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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (45646)1/27/2012 3:01:05 PM
From: E_K_S  Read Replies (2) of 78523
 
New York Community Bancorp, Inc (NYSE: NYB) - started small position
Honeywell International Inc. Co (NYSE: HON) - closed out position
Corning Incorporated Common Sto (NYSE: GLW) - added more shares based on the discount to their calculated GN.

Started a small position in NYB. Stock goes ex-dividend 2/3/2012 which yields 8%. Looking to use this stock to park some funds, collect the dividend and maybe will see a small capital gain over the next 6-8 months.

Closed out my HON shares originally purchased 10/8/2008 around $35.00/share. Based on today's price, the stock is selling 57% above it's Graham No value of $37.06. When I originally purchased the stock it was selling at a discount to it's GN. The dividend yield was dropping too, now only yielding 2.5%.

I am putting 50% of the proceeds from my HON sale into GLW, a position I continue to add to at these levels. GLW has a Graham No. value of $22.93. At the current price, GLW is selling at an 83% discount to this value at $12.55/share. Stock also pays a 2.4% dividend.

GLW's BV has increased each year over the last 5 years.


One must be careful with the reported BV numbers on the Yahoo Finance site. I have noted several instances where the number was overstated. On the ADVFN site they also state the tangible BV which is the better number to use when calculating the GN. (NOTE: HON has a -$3.01/share tangible BV probably as a result of their recent acquisition(s) and the goodwill they paid in their transaction).

EKS
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