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Strategies & Market Trends : Value Investing

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From: E_K_S	10/11/2011 4:54:56 PM
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Gas Natural Inc. Common Stock ((AMEX: EGAS) - Closed out position in taxable account Verizon Communications Inc. Com(NYSE: VZ) - peeled off 40% of shares Friedman Industries Inc. Common(AMEX: FRD) - closed out small tracking position Digital Realty Trust, Inc. Comm(NYSE: DLR) - upped position by 25% Three sells and one buy today. Trying to raise some cash to deploy into other better value buys that also pay equivalent dividends. DLR seems to fit the bill w/ a forward PE of 12.5 (as long as analysts estimates are correct). DLR should provide better growth than VZ with 5yr EPS growth at 21.9% vs -16.1% for VZ and 5yr Sales growth of 35.2% vs 8.9% for VZ. Both companies carry similar LTDebt/equity ratios around 1.4. Dividend yields are about the same at 5%. I purchased FRD as a small cap value buy with an entry point of $8.56/share. Stock is too thinly traded. I closed my tracking position in FRD for a small profit and find that Gerdau S.A. (GGB) might provide a better value buy in the rolled steel sector (w/ more liquidity). My last buy for GGB was 8/16/11 at $8.20/share. I would like to take the proceeds from FRD and up my GGB position if I can buy shares in the $7.50/share price range. That would make the Buy at close to BV ($7.63/share) with a forward PE of 4.5. Seems like a low risk value entry point. I am looking at putting the proceeds of EGAS into the TPZ fund that yields a bit more and is selling at a 6% discount to it's NAV. However, I might be able to buy shares at a lower price if I wait to see where oil eventually settles in the next days/weeks. TPZ can maintain such a good yield as they hold several MLP shares and high yielding preferred shares in the Oil & NG pipeline sector. Their portfolio is fairly conservative and spin's off a lot of income. It should be a good place to park some funds while the economy struggles w/ the high unemployment levels. EKS

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