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From: E_K_S5/22/2012 11:47:50 AM
of 51741
 
Ford Motor Company Common Stock (NYSE: F)- 20% reduction
Omega Protein Corporation Commo (NYSE: OME) - Peeled off some high priced shares
General Electric Company Common (NYSE: GE) - Peeled off some high priced shares


A few portfolio housekeeping sells. Reduced F buy 20% from shares purchased in 2005. Booked a 25% gain. Stock still looks like a good value hold with a forward PE of 6.7. Dividend is tiny at 2%. Company's debt profile continues to improve too. 5x annual earnings covers their long term debt now. If the U.S. and world economies grow, Ford should grow too.

OME produces fish oil & fish meal. They reported disappointing earnings earlier this month. I am still bullish on the company long term and trying to build a low cost position. I plan to buy more low cost shares at current levels. Their forward PE moved up to 10 but as they integrate their earlier fish oil manufacturing acquisition into their operation, their fish oil & distribution division should become more profitable.

GE had a decent earnings reports and resumed their dividend. Sold some high priced shares I own. Current position is now positive. Their Forward PE of 12 is just ok and when compared to SI at 9, this is really not that good of hold. My plan is to eventually move these shares into SI shares and thought GE might continue to gain traction (since they resumed their dividend) as SI sells off because of EU concerns. GE's value proposition is just average but I feel it is better to hold the shares than sit on the cash at this time. SI is the company I really want to own but still waiting on the sidelines.

EKS
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