Stocks bought/sold November/December

 

Several stocks were bought and sold during this period. The trigger was that I considered the value of Netflix to be excessive and due to that I must now pay taxes in Sweden I decided to balance the gain by getting rid of some loss shares. I keep investing in my UK stock portfolio and any money in my German stock portfolio I directly take out in this case I took out >10k € from my German stock portfolio.

Sold shares

Netflix, 30 shares sold for 12,833.26 € with a gain of 6,938.77 € or 109%.

EasyJet, 947 shares sold for 4,560.53 € with a loss of -2,670.51 € or -38%.

Skanska, 250 shares sold for 3,743.12 € with a loss of -628.86 € or -14%. During the holding period an additional 717 € was paid out in dividends.

BASF, 140 shares sold for 6,073.38 € with a loss of -770.57 € or -12%. During the holding period an additional 2,716 € was paid out in dividends.

H&M, 250 shares sold for 3,856.83 € with a loss of -1,092.01 € or -22%. During the holding period an additional 1,605 € was paid out in dividends.

My current holding period of stocks is 45 months.

Bought shares

McDonalds, 20 shares bought for 5,082.50 €. I should never have sold them when I previously did. I bought them as a realty company and then in the pandemic I sold them as a fast food company. Stupid!

Berkshire, 20 more shares bought for 6,647.54 €. This means that I currently hold 45 shares for 11,399 €.

Burberry, 170 shares bought for 3,246.04 €.

ETF-All World, 35 shares bought for 3,653.23 €. This means that I currently hold 93 shares for 9,223 €.

Dividends in April 2023

Happily a lot of dividends have dropped in since the last report and especially RioTinto is a pleasure to receive dividends from during this day and age of change.

RioTinto - From my 325 shares I received a total of 685.66 € which was paid out as cash.

HSBC - My 700 shares paid out 149.24 € as cash.

Barclays - With my 1,900 shares I received 109.25 € as cash.

H&M - The 603 shares paid out 173.83 €, the taxman took 52.15 €, which left me with 121.69 € in cash.

Talanx - My 80 shares paid out 160 €, taxman took 42.20 €, and left me with 117.80 € in cash.

BASF - The 140 shares paid out 476 €, the German tax office took 125.54 €, leaving me with 350.46 € in cash.

Skanska - My 250 shares paid out 164.93 €, Swedish taxman took 49.48 €, and I got 115.45 € paid out in cash.

Nike - With my 40 shares I received 12.45 €, USA taxman kept 1.87 € and I was left with 10.58 € in cash.

A great period for dividend payments!

Dividends during May 2022

 

Several dividend payments were made during the month of May of which some were more substantial than others...

TJX paid out 17.65 €, 2.65 € going to taxes leaving me with 15 € in cash on my broker account.

RWE provided me with 297 € of which 78.33 € went to tax and 218.67 € ended up on my account.

BASF made a hefty payment of 476 € however 125.54 € went to the taxman and I ended up with 350.46 €.

Talanx paid out 128 €, 33.76 € to taxes and 94.24 € as cash to me.

H&M paid out 186 € and 23.13 € was withheld in taxes, leaving me with 162.87 € in cash.

K+S provided 48 €, 12.66 € to taxes, giving me 35.34 € in cash.

VW paid out 90.72 €, of which 23.92 € went to the taxman and I received 66.80 € in cash.

E.On. paid out 196 €, also here tax of 51.69 € was removed, and I got 144.31 € on my broker account.

DB paid out 84 € with 22.15 € withheld and 61.85 € as cash on my account.

And finally Intel paid out 45.97 €, US withheld 6.89 € in tax and I received 39.08 € to invest into new ventures.

Dividends May 2021

 

Three companies were kind enough to pay out dividends to me during May which is always very appreciated.

E.On, one of my German energy providers, paid out 188 € from which the taxman took his part and I received 138.42 € as cash on my broker account.

Talanx, my German insurance company and majority shareholder in Hannover Re, decided to pay out 120 € of which I in the end received 88.35 € on my broker account.

BASF, the chemical company have had a very good 2020 and this will continue also in 2021 for sure, decided to pay out a very nice dividend of 462 € which is the same as last year and from this was taken 121.85 € in taxes and I received out 340.15 € in cash.

Dividends during June 2020: Nike et al

A dividend payment was received from Nike in the size of 8.71 € from which 1.31 € was taken in taxes and I received 7.40 € paid into my broker account.

The Germany energy company RWE paid out a dividend of 264 € and from this was taken 69.63 € in taxes and I was left with 194.37 € on my broker account.

The chemical company BASF arrived with a dividend payment of 462 € of which Mr. Taxman (or woman) took 121.85 € and left on my broker account as cash was 340.15 €.

My trusted dividend payer BP sent over 73.41 € of dividends and all of it was paid out in cash on my broker account.

K+S provided me with 9.60 € of which 2.53 € went to taxes and I received 7.07 € as cash on my account.

IBM sent some dollars to me that converted became 35.69 € of which 5.35 € went to taxes and 30.34 € was added to my cash account.

Tradition was followed and Intel paid out 39.93 € with 5.99 € kept in taxes and 33.94 € was added to my broker account.

And finally my second German energy company E.On arrived with 184.00 €, of which 48.53 € was kept in taxes and I received 135.47 € in cash.

To see a bit more in details please visit my Stock Dividends page.

Analysis of BASF 2020

Company: BASF

ISIN DE000BASF111 | WKN BASF11

Business: A German chemistry and polymer company. They are active with six different business segments and those are: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and finally Agricultural Solutions.

Active: World wide and as they say themselves "in almost every country in the world". 

P/E: 4.9 (without discontinued P/E of 16.4)

For the previous analysis please see analysis of BASF 2018.

The P/E for BASF is great with 4.9 however if one excludes the discontinued activities then it lands on 16.4 which is border case. However the P/B has improved significantly and is now at 1.0 which indicates that Graham even with the discontinued activities would have been interested in buying BASF.

The earnings to sales are good with 14% but better yet it has significantly increased. The ROE is up at 20% which is great and the book to debt ratio is ok with 0.9.

In the last five years they have had a negative yearly revenue growth rate of -3.4% which comes from divestment and conversion of their business strategy but I would still say that we have a motivated P/E of around 9 which means that BASF is if one excludes the discontinued activities are undervalued by the market and if one includes it in the evaluation then they are overvalued by the market.

They pay a good dividend of 7.2% which then corresponded to 35% of their earnings but it is not sustainable if one accounts for discontinued activites.

Future: The new CEO of BASF that I personally are very pleased with are changing BASF and setting the company up for the long term future. They are leaving the old things behind such as wintershall with oil and gas and are instead embrazing sustainability and recycling. This means a massive loss in revenue but it also brings a more stable revenue flow that is not in the hands of some countries whim. For me their major problem today is how heavily they are connected to the automotive industry. This goes for both their chemical segment as well as for their catalysis business. For my point of view this conversion should probably have started even earlier but BASF - "Big And Slow Factory" will get there with their new focus on the consumer and sustainability.

Conclusion: Graham is actually this time round happy with BASF and so am I. The P/E is acceptable, the P/B is good and even if they end up paying only half the dividends then I would find that reasonable. Their new approach of sustainability is also 100% correct and I recently increased my holding in BASF. I will remain as a shareholder.

Dividends from RWE, VW, Hugo Boss, BASF, Talanx, Fast Retailing, E.On, H&M, K+S, DB and ETF Russia: May 2018

May has been a massive month when it comes to dividends but I am still far from what I need to get for securing retirement.

From my 330 shares in RWE I received in total dividends in the size of 495 €. From this the German government happily removed 130.55 € in taxes and I was left with 364.45 € as cash on my broker account.

To find out more about RWE then please click here.

In VW I have 12 shares and in total they paid out 47.52 €. Also here taxes were removed in the size of 12.53 € and I received out 34.99 € in cash.

To find out more about VW then please click here.

Also Hugo Boss paid out dividends and for my 35 shares I received in total 92.75 €. Germany once again took taxes in the size of 24.46 € and I received a total of 68.29 € as cash.

To find out more about Hugo Boss then please click here.

The wonderful chemical company BASF paid out dividends on my 80 shares in the size of 248 €. In this case I paid 38.43 € in taxes and therefore received 209.57 € paid out as cash on my broker account.

To find out more about BASF then please click here.

My only insurance company Talanx paid out 112 € for my 80 shares and from this was taken 29.54 € in taxes which left me with 82.46 € in cash.

To find out more about Talanx then please click here.

For my 6 shares in Fast Retailing I received a gift of 9.18 €. On this I paid 1.41 € in taxes which left me with around two beers or 7.77 € in cash.

To find out more about Fast Retailing then please click here.

My 400 shares in E.On gave be 120 € in dividends even though they probably could have used that money more wisely. From this was taken 31.65 € in taxes and I received 88.35€ in cash on my broker account.

To find out more about E.On then please click here.

For my 603 shares in H&M I received a total of 285.34 € in dividends. From this was taken 35.49 € in taxes and I received 249.85 € as cash in my hand.

To find out more about H&M then please click here.

My only mining company K+S paid out 84 € in dividends for my 240 shares. The German government once again comes with their little fingers and removed 22.15 € which gives me in the end 61.85 € as cash on my account.

To find out more about K+S then please click here.

These guys could and should really not have paid out a dividend but still for my 420 shares in DB I received a total of 46.20 €. From this 12.18 € went to taxes and I was left with 34.02 € in cash.

To find out more about DB then please click here.

My 550 shares in ETF Russia reinvested a total of 101.16 € and no taxes were paid out on this.

To find out more about ETF Russia then please click here.

That was everything for the month of May I wish that it would be like this every month.

To see my total dividend flow then please visit the Stock Dividends page that has now been updated.

Analysis of BASF 2018

Company: BASF

ISIN DE000BASF111 | WKN BASF11

Business: A German chemistry and polymer company. They are still active with five different business units and those are: Chemicals (with intermediates and polymers), Performance Products (pigments, care chemicals, health chemicals and paper chemicals), Functional Materials & Solutions (catalysts, construction chemicals and coatings), Agricultural Solutions (crop protection) and finally Oil & Gas (exploration and extraction).

Active: World wide and as they say themselves "in almost every country in the world". 

P/E: 12.8

For the previous analysis please see analysis of BASF 2017.

The P/E for BASF is excellent with 12.8 but the P/B is a little bit too high with 2.3 which indicates that Graham would not have been interested in buying BASF at this point in time.

The earnings to sales are ok with 9% but better yet it increased from last year. The ROE is up at 18% which is great and the book to debt ratio is ok with 0.8.

In the last five years they have had a negative yearly revenue growth rate of -2.7% which comes from divestment but I would still say that we have a motivated P/E of around 12 which means that BASF is currently normally valued by the market.

They pay a good dividend of 3.7% which correspond to 47% of their earnings so they can sustain it but they need to push up their earnings a bit.

Conclusion: Graham is not fully satisfied with BASF but I am. I consider the P/E, ROE and dividends to be fully acceptable for stepping into BASF which I also did. I will remain as a shareholder.

BASF annual report 2017

It is interesting when one talks to employees in BASF. Once you have been hired you apparently pretty much cannot get fired. The possibilities to promotions are also weak. This means that many of the ambitious employees with a drive leave the company and the people that remains are well... there between nine to five. It is sad to hear and it would be interesting to get statistics on what a person must do to actually get fired in Europe (ex. UK).

For the report in full please go here and for the latest summary which was the BASF annual report 2016 then please click on that link and to find out more about The Chemical Company then please visit analysis of BASF 2017.

In the last three years BASF has taken a significant drop in revenue due to divesting however last year looked pretty weak and by the look of things their new strategy is taking off. Less revenue but more profit. I like it! I only wish that IBM would at some stage actually manage to close that equation instead of having both go down year after year. Back to BASF... they are now stepping into lower volume products that sells at a higher margin. They never did this in the past. No matter how large the margin was if the product did not reach a certain volume they simply shut it down. In my book that is idiocy but hey... they are slow but they appear to get it in the end. The revenue was up by

12% which is good but even better then earnings was up by almost 50%. Well done!

Conclusion: I hope that BASF will stay on the path that they are now walking so that those profit margins and earnings can keep increasing! I increased by holding not that long ago and I will remain as a shareholder in BASF for a long time.

Stock bought March 2018: BASF

I, in my opinion, once again took advantage of the drop in share price of many excellent companies and therefore decided to push in some more money into BASF. Oil prices have increased lately which means that the oil and gas part of BASF should be doing pretty ok and their decision to step more into the consumer market has really taken off. For a long time BASF has been about volumes, volumes, volumes but since the last two years they have stepped into the consumer market that is more risky, yes, but it also provides much higher margins. If you go out into a store and pick up a pair of light weight Adidas sneakers then the sole comes from BASF polymers and from their in-house development. Since they own it that means they can join hands with every other sneaker company in the world. Well done BASF!

At the moment they are trading at a P/E of around 12.5 and yes that is with high earnings still, in my book, it is worth it. I am in this for the long run with my initial investment made 3.5 years ago in BASF.

Before this I had 47 shares with a price of 64.11 € per share including fees. I now bought 33 more shares at a price of 82.18 € which totals 2721.94 € including fees.

I therefore now own 80 shares in BASF with the total price per share of 71.68 € including fees and the entire investment is up at 5734 €.

To find out more regarding BASF then please click here.

If you want to see my current Stock Portfolio then click on the link but the portfolio will not be fully updated until the end of the month.

Dividends from Deere, VW, Fast Retailing, K+S, Talanx, BASF, DB & Hugo Boss: May 2017

Sorry for the long title but plenty of companies have paid out dividends during the last month and since I no longer have so much time I just try to bunk them all together as much as possible.

For my 30 shares I received 16.44 € in dividend. From this was taken 2.47 € in taxes and I was left with 13.97 € as cash on my broker account.

To find out more about Deere then please click here.

For my 12 shares in VW I received a total of 24.72 € in dividends. From this was taken 6.51 € in taxes and I was left with 18.21 € as cash on my broker account.

To find out more about VW then please click here.

For my 6 shares in Fast Retailing I received a total of 8.47 €. From this was taken 1.30 € in taxes and I was left with 7.17 € as cash on my broker account.

To find out more about Fast Retailing then please click here.

For my 240 shares in K+S I received in total 72 € in dividends (awful!). From this was taken 18.99 € in taxes and I was left with 53.01 € in cash on my broker account.

To find out more about K+S then please click here.

For my 80 shares in Talanx I received in total 108 € in dividends. From this was taken 28.48 € in taxes and I was left with 79.52 € as cash on my broker account.

To find out more about Talanx then please click here.

From my 47 shares in BASF I received a total of 141 €. From this was taken 37.18 € in taxes and I was left with 103.82 € as cash on my broker account.

To find out more about BASF then please click here.

From my 420 shares in DB I received 79.80 € in dividends. From this was taken 21.04 in taxes and I was left with 58.76 € as cash on my broker account.

To find out more about DB then please click here.

From my 35 shares I received 91 € and from this was taken 24 € in taxes which leaves me with 67 € as cash on my broker account.

To find out more about Hugo Boss then please click here.

To see my total dividend flow then please visit the Stock Dividends page that will soon be updated. It should be mentioned that this will not become a good year for dividends for me.

Analysis of BASF 2017

Company: BASF

ISIN DE000BASF111 | WKN BASF11

Business: A German chemistry and polymer company. They are still active with five different business units and those are: Chemicals (with intermediates and polymers), Performance Products (pigments, care chemicals, health chemicals and paper chemicals), Functional Materials & Solutions (catalysts, construction chemicals and coatings), Agricultural Solutions (crop protection) and finally Oil & Gas (exploration and extraction).

Active: World wide and as they say themselves "in almost every country in the world". 

P/E: 20.3

For the previous analysis please see analysis of BASF 2016.

The P/E of BASF is far too high for me with 20.3 and the P/B is a little bit on the high side with 2.6 which gives a clear no go from Graham. Earnings to sales are reasonable at 7% but the ROE is a bit too low with only 12.8%. The book to debt ratio ends up at 0.7 which is ok.

In the last five years they have had an extremely poor revenue development with yearly -6% which is truly awful and this then gives us a motivated P/E of between 8 to 10 which means that BASF today is highly overvalued by the market.

They spend a nice chunk of money on R&D and I know for a fact that it is keeping them ahead of competitors so it is indeed worth those 45%.

They pay a decent dividend in the size of 3.4% which unfortunately correspond to almost 70% of their earnings which means that they better start bringing home some more money and soon!

Conclusion: Graham says no to BASF due to the high P/E, P/B and the poor ROE as well as the high percentage of paid out dividend. I own BASF today and I am more forgiving. They are indeed up at a high P/E and I would not buy them but they are not crazy high which would make it worth my while to sell them and they additionally have less than "common" earnings which leads to an inflated P/E value. I will remain as a shareholder in BASF.

BASF annual report 2016

I have a love/hate relationship to BASF. The "hate" started back in 2007 when I was refused a job with them due to that I completely crashed with the big boss of that department. As an old, old chemist he did not know about IUPAC rules for how to name compounds and as a wet behind the ears chemist I did not know the trade names of various compounds. It is just one of those moments in life when things went wrong. Already back then they had an extremely good hiring procedure and a lot of money was invested in trying to make sure that they hired the correct person but looking back they probably had one issue and that was that if the big boss says no then the person will not be hired. Today, in other professional companies, employees can get hired based on the HR department. Some bosses wants people that says yes and agree to everything they say but it is destructive for the company and hence HR should every now and then step in and make the decision when weak bosses are trying to have their way. One of my friends where hired like that via the HR but against the direct line manager and he have had the good fortune of having a splendid career which simply comes form him being excellent and people pushing careers often do not stay longer than 1 to 2 years in one place. Anyway...

After my incident with BASF I had a dislike towards them and their pompous employees / bosses. Afterwards in my career I ended up working with them and I must admit that I enjoy that. They are good and their slogan THE chemical company is correct. They do a lot of good stuff and they should be better known among people but it is hard when you are so focused on B2B sales.

For the report in full please go here and for the latest summary which was the BASF annual report 2015 then please click on that link and to find out more about The Chemical Company then please visit analysis of BASF 2015.

In the financial statement below we can see that they sales dropped like crazy! With a minus of almost 20% it is bad, bad news. The beautiful thing though is that A. they did not have a party and B. they managed to control their costs which leads to a fairly good earning at the bottom line. Sure compared to 2015 they are only up less than 2% in earnings but comparing that to the sales loss then it is pretty impressive! The earnings per share ended up at 4.3 € and they are paying out 3 € in dividends which means that they are confident in the future.

Conclusion: BASF had another bad year which comes to a very large extent from their oil and gas business. last year they sold for well over 10 billion € and this year they were down at a bit over 2 billion €. A massive change! I might be wrong but to me that looks as if when they are not making any money they simply close the tap to keep the oil and gas until prices reach a more acceptbale level. If that is true then I personally fully agree with that behaviour. I will continue to be a shareholder in BASF.

Chemical report Q2 2016

In the chemical group I decided to push in BASF, BP, Fugro as well as Tessenderlo. Fugro is indeed not a chemical company but it is very strongly influences by the chemical industry and especially then the oil industry that I decided that it makes more sense to bring them in here. If I will see a dramatic change in the business for Fugro then I will know that BASF and BP is once again taking off and start to see the end of the tunnel.

BASF

For the report in full please go here and for the latest summary which was the BASF report Q1 2016 then please click on that link and to find out more about The Chemical Company then please visit analysis of BASF 2016.

In the financial statement below there is not much to be happy about. The revenue has definitely crashed for BASF and it is now down by -27% the only good part there is that they have tightened up their costs that are happily down by -33%.This year they additionally have not held a party for 0.5 billion € so we end up with almost 2.5 billion € in earnings which is pretty similar to the party year so it is not good but at least they are showing earnings.

Conclusion: BASF is struggling and their oil and gas business is down on its knees with -86% in revenue. Disturbing enough also the Chemistry is down by -15% which really surprises me since that goes against my thoughts. I will of course remain as a shareholder in BASF.

BP

For the report in full please click here and to see the previous summary regarding BP report Q1 2016 or why not take a look at the latest analysis of BP 2016. 

In the financial statement below we can see how hard BP is still suffering. The revenue was increased for Q2 in comparison to Q1 2016 but still it is far from what it was back in 2015. We can see that Rosneft start to recover a little so the flow from associates have kicked up a little but still I do not really see the light in the end of this tunnel based on these figures. Th earnings are yet again a loss in the size of, for the half year, 2 billion USD. I do not know if it should be stated as being light in the end of tunnel but they have increased their spending on exploration... Let us see if any of that has gone to Fugro.

Conclusion: BP is still doing awful. Crashed revenue, crashed earnings and for us poor shareholders the cannibalising continues with paid out dividend and a strongly decreasing equity that follows. I understand why they do not stop it but sometimes one really should. I will remain as shareholder.

Fugro

For the report in full please go here and to see my previous summary then visit Fugro report Q2 2016 and to find out more about Fugro then please click on analysis of Fugro 2016.

In the financial report below things are not a rose garden for Fugro. Revenue has crashed from 1.2 billion to less than 1 billion €. They keep firing people and selling out not only vessels but also entire divisions. Right now they are eating up the few retained earnings that they had from the good years and we can even see that their backlog is dying. They very strongly emphasise that many customers are pulling back their contracts within the oil and gas industry. So that BP increased their exploration does not seem to have landed in the hands of Fugro.

Conclusion: Fugro is still not doing well and they will not until oil prices goes up much higher. They are cutting, cutting and cutting which is purely a matter of surviving which makes it very sad for me to watch as a shareholder. I should never have entered in Fugro but I will not sell them at this time.

Tessenderlo

For the report in full please click here and to see my previous summary then please visit Tessenderlo report Q1 2016 and to find out more concerning Tessenderlo then please go to analysis of Tessenderlo 2016.

From the statement below we can see there has not been any large changes when one compares 2015 with 2016. The revenue is pretty much flat, costs have decreased ever so slightly and we end up pretty much the same earnings as we had in 2015 for the running six months.

Conclusion: Tessenderlo made that jump up from disaster to back on track in 2015 and as of yet they have not managed to bring it to the next level of having increased revenue and earnings. I am sure that it will come soon enough and I do not mind if I have to wait another year for it. I will remain as a shareholder in Tessenderlo.

Conclusion Overall: The chemical sector is not doing very well. Most of them have dropped back in revenue and earnings and if you are a service company to that sector then you will have serious problems right now.