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EPIC SMIN
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It is a Friday - and you might be bored with large caps - but Smiths Group is still cheap

Six months ago  I observed that the British multinational diversified engineering business Smiths Group (SMIN) was worth sixteen to seventeen quid a share. The share price has risen about 10% since then, meaning a just shy of a fifteen quid share price this morning.  After all its first half numbers showed a 3.4% rise in organic revenue growth and an 11.1% rise in operating profits given it saw “strong demand across most end markets”.  And it also sold its Medical business in recent months too allowing it to focus on other parts of its business and buying back some shares too.  

EPIC SMIN
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Good news for both easyJet and Smiths Group shareholders

I may not have been on a plane since January 2020 but I still like easyJet (EZJ) shares and was pleased to read earlier today on the ‘31 for 47 rights issue of 301m New Shares at 410p per New Share...valid acceptances representing approximately 93.0%'. Whilst most money raisings will induce volatility, earlier this month I wrote about how I backed this deal. Frankly, I am amazed that 7% of investors failed to do this. That's their mistake in my view. Easyjet remains a buy for me. I might even get the chance to travel on one of its planes over the next year. Also earlier this year I talked about looking for the opportunities to buy the ‘British multinational diversified engineering business’ Smiths Group (SMIN) when its shares fell below £15.

EPIC SMIN
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Smiths Group cans its CEO, will the next change be to split the business? It is now time to BUY

A couple of months ago I noted on the multinational diversified engineering company Smiths Group (SMIN) that you could see why the share price was ‘kicking around the £17 level a number of times from mid 2017’. And hence my perception back in March was that it was worth waiting for a ‘couple of bad days back below a £15 share price’ which would justify a buy.

EPIC SMIN
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Another smart deal at Aviva and one upcoming at Smiths Group

First some more positive news for Aviva (AV) shareholders.  A month ago, here, I discussed the positive decision that the UK listed insurance giant would sell its French business.  Today it also announced the sale of its Polish business and yet again it is for a decent amount of money of over Euro 2.5 billion.  This means that Aviva is now almost exclusively focused on their UK, Ireland and Canada businesses but also later this year can choose to pay a special dividend or seek to build further its core businesses.  Frankly, I would do more of the latter, even if the yield is already c5%.  As noted a month ago, I remain positive on this one and have a target share price well above the current 400p level.  

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