Post by
babybunny on May 02, 2022 8:14pm
Rock Solid Q1 😀🤩😎
Q1 was very good, and Hammond indicate there is plenty of business for the foreseeable future ... i.e., the next couple of quarters. Readers, expect to see several future posts with titles similar to this one.
First stage of Palmerston facility is expected to go into production around March 2023. This will take the load off some of the other operations that are groaning under the weight of strong sales. Ultimately, the expansion may contribute more to efficiency and margin expansion than to raw sales.
I am still astonished that Hammond trades at a P/E of 5. I have a full position already, but am sorely tempted to add more.
Just my opinions, as always.
Comment by
HyperCube on May 02, 2022 9:49pm
Yes, me too. HMM.A is currently my largest position. Up to 2 years ago it was BRK.B that was my largest position. Compared to BRK.B, HMM.A is smaller ( !!! ) and more volatile. I'm not buying more because I don't want to have a too large proportion of my portfolio in a single stock. But with such a P/E and with the company growing I think HMM.A is quite a sure bet.