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Strategies & Market Trends : Value Investing

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To: E_K_S who wrote (70893)9/27/2022 8:17:09 PM
From: E_K_S   of 71702
 
Re: Buys today include; NWN, ALE, LXP, KRO, LUMN, HON, XRX

Sells; ANDE, DE,

NWN & ALE are NG/Electric utility companies; ALE also has a water subsidiary both yielding >4% div; I continue to build position in these as well as NWE; been taking profits in WEC & SRE and putting proceeds into these higher dividend payers.

LXP continue to add to this Industrial Single Tenant REIT, now yielding 5% at the current price of $8.81/share; 2 year low

KRO 6.9% div yield; they manufacture the pigment in paints specially TIO2. 7 PE; highly cyclical. Will add more every 5%-10% lower and in size at/below $6/share

LUMN 12% dividend, generates huge FCF; Price/Cash Flow 1.37; this is the broadband service supplier the market hates; Big news is they called in their 6 1/2% bond debt so I expect dividend may/will be cut. They did sell off legacy landlines and looks like those proceeds will go to pay down that debt. Company is on track w/ their Enterprise 'Edge' cloud service and that is their growth engine.

HON small buy at $168.87 to buy back 30% of the shares I sold 10/2021 at $217. Have other buys for the remaining 70% of shares but at lower prices (maybe get some at the 2020 low price at/near $110. PE relatively high at 19x and only pay 2.3% div.

XRX - continue to build a core position in taxable account (2% portfolio position is the goal); including a small add today in the ROTH. Stock goes xdiv 9/29 yielding 7% div based on $14/share
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Closed out DE for small gain

peeled off 13% of ANDE; booked a nice gain from shares I bought 7/2021 at $26 but really think this goes higher as they generate huge FCF Price/Cash Flow 3.6x and they hold very little debt.

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UNFI had a good earnings report today and increased guidance. 7.5 PE & Price/Cash Flow 4.24. Pretty incredible when they have very high transportation costs just due to fuel prices. They are able to pass that on to the retailer through their distribution contracts. Company is also implementing new robot/software automation systems in it's five distribution centers.

United Natural Foods' (UNFI) Deal With Symbotic To Aid Growth

I continue to hold many of the shares I bought in 2019 w/ an avg price of $6.56/share (thanks to Paul Senior's support in buying as well). The company's story continues to be positive and the current value proposition makes this a hold for higher prices.
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