TTSE: Neal & Massy marches on to $63.70

Wednesday, 22nd January 2014 | Prices were mostly down on the Trinidad stock market as 12 securities traded with only 5 advancing, 4 declining and 3 trading firm.

The Composite Index inched by 0.23 0.07 points to close at 1,196.53, the all T&T Index eased up by 2.59 points to close at 2,021.45 and the Cross Listed Index declined by 0.27 points to 48.85. Trading resulted in 347,587 shares changing hands for value of $3,725,475.

Gainers | Clico Investment Fund traded a volume of 116,171 shares valued at $2,611,758, the price gained 21 cents to end at $22.48; Guardian Holdings traded 33,523 units with a value of $469,221 to close at $14 up 24 cents; Guardian Media traded just 100 shares at $19.75, gaining 25 cents at the close; Neal & Massy traded 2,000 shares and gained 67 cents to end the day at $63.70, a new 52 weeks high; One Caribbean Media traded 769 shares to close up 4 cents at $18.57 a new 52 weeks high.

Decliners | First Citizens Bank added 12,246 shares valued at $526,396 but the price slipped 3 cents to close at $42.94; National Commercial Bank traded 65,000 shares for a value of $65,030 as the price lost 4 cents to close at $1; Point Lisas Industrial Port Development lost 5 cents to close at $3.45; Sagicor Financial traded 1,800 to remain at $7.30; Scotia Investments traded 21,000 shares for $29,610 to close 2 cents down at $1.41.

TTSEJan22Stocks trading firm | Grace Kennedy had 59,040 shares changing hands for a value of $218,448, the price remained unchanged at $3.70; Jamaica Money Market Brokers added 32,092 shares valued at $16,047 with the price remaining at 51 cents; Trinidad Cement traded 27,387 units at $2.30; LJ Williams A shares traded 81,658 units firm at 29 cents.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had only 4 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

TTSE: Prices mostly down

Tuesday, 21st January 2014 | Prices were mostly down on the Trinidad stock market as 12 securities traded with only 1 advancing, 4 declining and 7 trading firm.

The Composite Index declined by 0.07 points to close at 1,196.30, the all T&T Index eased down by 0.01 points to close at 2,018.86 and the Cross Listed Index declined by 0.02 points to 49.12. Trading resulted in 368,276 shares changing hands for value of $7,605,670.

Gainers | Republic Bank was the sole stock with a price increase, climbing by a cent to end the day at $116.19 but only 15 units traded.

Decliners | Clico Investment Fund had a volume of 251,793 shares valued at $5,608,658, the price declined by 23 cents to end at $22.27; First Citizens Bank added 12,246 shares valued at $526,396 but the price lost 3 cents to close at $42.97, Scotia Investments traded 21,000 shares for $29,610 to close 2 cents down at $1.41. Scotiabank contributed 16,604 shares with a value of $1,213,881, its price fell 2 cents to $73.10.

TTSEJan21Stocks trading firm | Guardian Holdings traded 3,000 units to close at $13.76 and Grace Kennedy had 40,300 shares changing hands for a value of $148,986, the price remained unchanged at $3.70, Trinidad Cement traded 10,000 units at $2.30.

IC bid-offer Indicator| At the end of trading the Investor’s Choice bid-offer indicator had only 4 stocks with bids that were higher than the last selling prices and 3 stocks with offers that were lower.

TTSE: Small price changes greet week

Monday, 20th January 2014 | Trading on the Trinidad market started the week on a winning note with 10 securities changing hands of which 2 advanced, 1 declined and 7 traded firm. A volume of 265,019 shares changed hands with a value of $4,800,010 by the end of trading. Neal & Massy and First Citizens Bank closed at 52 weeks high.

The Composite Index advanced by 0.16 points to 1,196.37, the all T&T Index gained 0.32 points to close at 2,018.87 and the Cross Listed Index remained unchanged at 49.14.

Stocks gaining | First Citizens had volume of 54,628 shares traded for $2,348,347 with the price ending up 3 cents at $43 another all-time closing high; National Enterprises contributed 25,000 shares with a value of $450,142, the price inched up a cent to $18.01; Neal & Massy close up 3 cents at $63.03 with very small volume trading.

Stocks that fell | Prestige Holdings was the only declining stock with 2,988 shares changing ownership at $9.40, down 4 cents from the final price on Friday.

TTSEJan20Stocks trading firm | Grace Kennedy added 12,500 shares valued at $46,250 closing at $3.70; Trinidad Cement swapped 90,613 shares at $2.30 with a value of $208,410; Clico Investment Fund traded unchanged at $22.50 with 71,953 shares valued at $1,618,943.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 4 stocks with bids higher than the last selling prices and 3 stocks with offers that were lower.

TTSE: Market up with 3 new highs

Friday, 17th January 2014 | The Trinidad Stock Market closed the week with 13 securities changing hands of which 3 advanced, none declined and 10 traded firm. Trading resulted in 604,185 shares with a value of $12,669,080.

The Composite Index advanced by 0.65 points to close at 1,196.21, the All T&T Index gained 1.31 points to finish the day at 2,018.55 and the Cross Listed Index remained unchanged at 49.14.

Winners | Stocks closing with gains include First Citizens Bank with 48,548 shares valued at $2,086,339, the price closed up 11 cents at $42.97 for another all-time closing high. Neal & Massy put on 38 cents to end the day at $63.01 while trading 4,862 units, another 52 weeks high. Scotiabank with a volume of 92,667 shares being traded for $6,775,811 the stock closed at a new 52 weeks high of $73.12 up 2 cents.

TTSEJan17Firm traders | While there were no stocks to close lower than the last sale price from the day before, a number traded without any price change. These include Grace Kennedy with 304,374 shares to close at $3.70, for a value of $1,126,184; National Enterprises 51,660 shares to close at $18 with a value of $929,880; Prestige Holdings, 3,150 shares to close at $9.44; Trinidad Cement 25,801 units at $2.30; Sagicor Financial 10,708 units at $7.30; Scotia Investments 3,951 shares at $1.43.

Clico Investment Fund traded 55,393 shares valued at $1,246,343, the price remained unchanged at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than the last selling prices and 3 stocks with offers lower.

TTSE: 3 new highs but volume back to earth

Thursday, 16th January 2014 | There were 3 new highs at the end of trading in Trinidad, and the volume of stocks trading fell back from Wednesday’s high, but with the same number of securities being active; 16 securities of which 5 advanced, 4 declined and 7 traded firm.

The Composite Index gained 2.27 points to close at 1,195.56, the all T&T Index advanced by 7.43 points to 2,017.24 and the Cross Listed Index inched down by 0.35 points to end at 49.14. Trading volume amounted to 562,147 shares with a value of $9,362,629, well down on the $33 million of trading on Wednesday.

Stocks advancing | Stocks to enjoy gains during the day include First Citizens Bank added 48,382 units valued at $2,056,291 with the price hitting yet another high, increasing by 40 cents to $43; Neal & Massy Holdings contributed 36,990 shares with a value of $2,316,565, the price rose by $1 to end the at $63, a new 52 weeks high; National Enterprises added 27,500 shares valued at $495,000 the price gained 40 cents to $18, for a 52 weeks high; Grace gained 8 cents to end at $370 with only 300 shares changing hands and Republic Bank gained 4 cents to close at $116.18 with just 270 units.

Stocks falling | Angostura Holdings traded 66,156 shares for $780,641 but the price slipped 19 cents to close at $11.80; Point Lisas Industrial Port Development lost 10 cents to close at $3.50 while trading 17,200 units; Scotia Investment lost 7 cents in closing at $1.43 with 1,800 units and National Commercial Bank ended up shedding 6 cents to close at $1.05 as 5,000 units traded.

TTSEJan16Stocks traded firm | Stocks that traded unchanged in price include Trinidad Cement with 180,299 shares changing hands for $414,688 with the price closing at $2.30; Sagicor Financial 20,000 units closing at 7.30; National Flour Mills 3,542 shares at 96 cents; Guardian Holdings 2,660 units at $13.76.

Clico Investment Fund with 174,950 shares valued at $3,936,462 as the price remained at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 3 stocks with bids higher than the last selling prices and 4 stocks with offers that were lower.

TTSE: Trading picks up with $33m

Wednesday, 15th January 2014 | Trading activity picked up strongly on the Trinidad Stock market with trading in 16 securities of which 6 advanced, 1 declined and 9 traded firm as $$32,858,058 chased 676,587 shares.

All three indices gained during trading with the Composite Index moving up by 3.14 points and closed at 1,193.29, the All T&T Index advanced by 5.28 points to close at 2,009.81 and the Cross Listed Index inched up .13 points to 49.49.

Stocks advancing | The main trades to take place reflecting gains include First Citizens Bank which added 48,382 units valued at $2,056,291 with the price hitting yet another high, increasing by 20 cents to $42.60; Grace Kennedy gained 17 cents to end the day at $3.62 with 30,456 units; IC Insider Buy Rated Neal & Massy Holdings jumped $1.38 to end the day at $62 a new 52 weeks high with 3,35 shares changing hands; Scotiabank traded a relatively large volume of 103,134 shares for $7,539,163 with the price reaching a new 52 weeks high of $73.10 up 9 cents.

Angostura Holdings traded 13,098 units falling a cent to end the day at $11.99.

TTSEJan15Stocks traded firm | ANSA McAL closed at $66.30 with 250,000 shares changing hands for a value of $16,574,982; National Flour Mills contributed 103,070 shares with a value of $98,947 and the price closed at 96 cents; West Indian Tobacco 45,257 shares at $120; Sagicor Financial Corporation 41,691 shares at $7.30; Jamaica Money Market Brokers 10,000 shares at 50 cents; Guardian Media 3,609 shares at $19.50; Trinidad Cement, traded just 10,503 units to end at $2.30.

Clico Investment Fund, traded 10,785 shares valued at $242,663 but the price remained at $22.50.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids that were higher than the last selling prices and 4 stocks with offers that were lower.

TTSE: Market moving up slowly

Tuesday, 14th January 2013 | In trading on the Trinidad stock market, the Composite Index advanced by 0.57 points to close at 1,190.15; the All T&T Index gained 1.14 points to end at 2,004.53 while the Cross Listed Index remained unchanged at 49.36.

Trading activity resulted in 962,928 shares changing hands for a value of $34,050,938.

There were 14 securities trading on a day when there were two new 52 weeks highs and the price of 6 stocks advanced, 3 declined and 5 remained unchanged.

Stocks trading up in price include First Citizens Bank that reached yet another record closing high at $42.40 for a gain of 70 cents as investors traded 646,214 shares for a value of $27,237,021; Clico Investment Fund posted a volume of 206,562 shares valued at $4,646,748 with the price advancing by 25 cents to end at $22.50; Scotia Group gained 24 cents for a new 52 weeks high of $73.01 and Neal & Massy 2,125 units up 4 cents at $60.62.

Stocks declining include Angostura Holdings that fell 43 cents to close at $12.00; Point Lisa 5,845 units at $3.60 down by 5 cents, and Trinidad Cement off by 3 cents at $2.27.

Stocks trading unchanged include Guardian Holdings 4,101 units to close at $13.75; Jamaica Money Market Brokers with a volume of 39,340 shares being traded for $19,670 closing at 50 cents; National Flour Mills contributed 16,109 shares with a value of $15,464.64, while Trinidad Cement added 14,500 shares valued at $32,850.00.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 2 stocks with offers lower.

TTSE: Market slowly moving forward

Monday, 13th January 2013 | Market activity on the Trinidad Stock Exchange resulted from trading in 12 securities of which 2 advanced, 1 declined and 9 traded firm with 165,421 stock units changing hands for a value of $1,691,972.

The Composite Index advanced by 0.58 points to close at 1,189.58. The All T&T Index advanced by 1.18 points to close at 2,003.39 and the Cross Listed Index remained at 49.36.

The market saw price movement in a number of stocks which include Angostura Holdings as the price  lost a cent to end the day at $12.43 with 1,978 units trading. First Citizens Bank gained 16 cents to close at $41.70, a new high, while trading 10,135 shares.  Trinidad Cement added 13,522 shares valued at $31,101 with the price closing at $2.30 as it gained 5 cents.

Stocks trading unchanged include Agostini’s with 1,381 units trading at $17.80; Grace Kennedy 14,010 shares with a value of $48,335 as the price closed at $3.45; Jamaica Money Market Brokers, 53,848 shares changing hands for a value of $26,924 with the price closing at 50 cents; Prestige Holdings exchanged 44,573 shares for $421,125 as the price closed firm at $9.45; Scotia Investments 7,000 units to close at $1.50; West Indian Tobacco 2,864 units, closing at $120.00; and Sagicor Financial Corporation, 1,300 units at $7.30.

TTSEJan13Clico Investment Fund posted a volume of 14,800 shares valued at $329,362 as the price remained at $22.25.

IC bid-offer Indicator | At the end of trading the Investor’s Choice bid-offer indicator had 7 stocks with bids higher than the last selling prices and 3 stocks with offers lower.

First Citizens doubles in 5 months

When Trinidad’s First Citizens Bank stock price hit $41.54 on Friday 10th January, investors who bought shares at the initial public issue price and held until this week doubled their money in just over 5 months. The stock price gained 89 percent from the initial IPO price of $22 per shares in August. The bank declared a $1.09 per share final dividend to be paid January 24, to shareholders on record as of December 31, 2013, the Ex-dividend Date is December 27.

The dividend equivalent to a 12 percent rate of return on the IPO price, when added to the return of the stock price for persons, who got shares at the IPO price and held, have seen a 100 percent gain on their investment.

The dividend policy of the First Citizens Bank enunciated in the propectus is to distribute to its ordinary shareholders funds surplus to the operating capital and strategic requirements of the Group, as determined by the Directors, with an annual target dividend pay-out percentage range of 45 to 55 percent of net profit after-tax. The 2013 dividends translates to around $273 million versus $263 million paid for 2012.

The bank reported profits of $742 million before tax and $606.5 million after tax compared to 2012 pre-tax profit of $714 million and $446 million after tax but the big increase after tax is due to tax adjustment in 2012 that depressed the after-tax profit. Based on the 2013 results IC Insider return the stock to the BUY RATED list and project the stock price to exceed $50 per share during the course of 2014.

First Citizens Bank is an ICInsider Buy Rated stock. To view the full list, click here.

Related posts | First Citizens paying 12% dividend | First Citizens staff lose huge payday | First Citizens’ $1B IPO opens today

Buy Rated: Active price movements

Friday, 10th January 2014 | Price changes saw 9 of the Buy Rated stock selection gaining during the week and 13 declining.

On the Jamaica Stock Market, the largest move was by Pan Jamaica Investment falling from $54 last week to $48.13 at the end of the week. Jamaican Teas fell 10 percent on small volume, back to $3.60. Grace Kennedy fell by 45 cents to $54.05; Hardware & Lumber dropped 9 percent from $8.down to $7.28, Lasco Manufacturing ended down 6 percent as the stock shed 8 cents to end at $1.20.

The week was not without its winners. Caribbean Producers put on 5 cents or 2 percent to close the week at $2.75 and is up 35 percent so far. General Accident is up only 2 percent since selection but gained 9 cents or 5 percent during the week.

BuyRated10JanLasco Distributors gained 10 cents for a gain of 8 percent; Carib Cement, in making it relentless climb from obscurity, hit $4 this week but only held on to $3.80 at the end for a week’s gain of 30 cents or 9 percent. The stock is up 41 percent so far. National Commercial Bank put on 80 cents or 5 percent for the week but is still under water since selection at 12 percent.

In Trinidad, First Citizens Bank climbed to the $50 forecast level and put on 91 cents in the week. Neal & Massy gained 55 cents in the week as it is gradually gaining traction with its price moving forward.

Related posts | Buy Rated: H&L up 74%