Strix (KETL)

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Strix KETL Logo

The AIM listed global leader in the design, manufacture and supply of kettle safety controls and other complementary water temperature management components.

22-Jan-2018 – 138p – £262.2m – PER 11.1

Trading Update For The 12 Months To End December 2017 – Inline.

Looks OK but probably priced about right for what looks like a slow grower with a small Dividend yield.

22-Mar-2018 – 130p – £247.0m – PER 10.5

Preliminary Results For The 12 Months To End December 2017 – In-line with an in-line outlook.

Still doesn’t much appeal to me, looks like a slow grower with a small Dividend yield.

Subsequent note: On an annualised basis the dividend equates to 5.4%, that makes this much more attractive. It’s on the Watchlist at 130p.

18-Jul-2018 – 168.6p – £320.3m – PER 12.2

Trading Update For The 6 Months To End June 2018 – In-line.

As long as it protects its patents could be a decent dividend play – I am going to take this off my Watchlist now and go Neutral as I prefer Revenue and Profit growth to Dividend growth.

19-Sep-2018 – 168p – £319.2m – PER 11.4

Interim Results For The 6 Months To End June 2018 – In-line with FY expectations.

Perhaps attractive for the yield but growth forecasts seems to suggest a fair price here. I’m Neutral.

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