Why Fenner is still a solid buy for the long run

The price of shares in engineering company Fenner has slipped by almost a fifth recently. But the company is still a buy, says Phil Oakley. Here, he explains why.

Back in February I tipped engineering company Fenner(LSE: FENR) for its long-term potential. Since then, the shares have not done well - they are down 19%. This is clearly disappointing. But today's trading statement suggests that the long-term investment rationale is still intact.

Why have the shares gone down?

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Phil spent 13 years as an investment analyst for both stockbroking and fund management companies.

 

After graduating with a MSc in International Banking, Economics & Finance from Liverpool Business School in 1996, Phil went to work for BWD Rensburg, a Liverpool based investment manager. In 2001, he joined ABN AMRO as a transport analyst. After a brief spell as a food retail analyst, he spent five years with ABN's very successful UK Smaller Companies team where he covered engineering, transport and support services stocks.

 

In 2007, Phil joined Halbis Capital Management as a European equities analyst. He began writing for MoneyWeek in 2010.