This article first appeared in The Edge Financial Daily, on July 27, 2016.

Astino Bhd (-ve)

SHARES in Astino Bhd (fundamental: 1/3, valuation: 2.4/3) triggered our momentum algorithm yesterday, as its share price gained 3.5 sen or 4.73% to close at 77.5 sen.

There were 2.56 million shares traded yesterday, compared with its 200-day average volume of 129,954 shares.

Last Thursday, Astino bought back 134,000 shares, which increased its treasury shares to 0.221%.

Astino’s net profit for the third quarter ended April 30, 2016 (3QFY16) rose 60% to RM9.92 million, from RM6.2 million in 3QFY15, mainly because in 3QFY15, it made an allowance for losses on receivables of RM2.8 million.

Revenue for 3QFY16, however, declined 8.34% to RM126.2 million, from RM137.7 million.

Astino is involved in the manufacturing and sale of metal roof sheets and other building-related products like PVC panels, doors and frames.

At its current share price, the stock is trading at a trailing 12-month price-earnings ratio of 9.04 times, and 0.72 times its book value.