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LORILLARD INC Message Board

  • axpkocop axpkocop Mar 1, 2013 11:49 AM Flag

    Bought More in IRA-38.348/sh

    LO is now the largest equity position in IRA #1.

    Sold all my PEP at 75.75 to fund half the purchase. I hate selling stocks to buy others because they seem to go in opposite directions after the trade.

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    • Increased my position by 12% today in IRA # 2. Paid 42.24/sh-note the stock was XD 55 cents today.

    • Bought more in IRA #1- 43.955

      LO increased their share repurchase program today by another $500 million adding to their existing buy back of $450 million. They plan to complete their purchases by year end. It works out to over 5% of their outstanding shares.

      • 1 Reply to axpkocop
      • Added myself at $43.99 this morning.

        Seen this borrow money and repurchase program from Kessler before. He has been a shareholder friendly CEO in the past and looks like he has not changed his stripes.

        I rolled out of a little PM to make the add here this morning, even though I do consider this a tiny bit more risky, I see the reward potential a lot higher. We'll see.

        Looks like the market did not really care about the extra added to the repurchase program at this point, but I agree with your thinking, should put a nice floor in the PPS, again we'll see.

        I will leave it at for the moment, as this is my first post here and I do not want to come off as a pumper, but a little dd on how the game played out at the old UST before MO took them out might be worthwhile for the longs. That story was the reason for my nibbling at the stock this morning.

        GLTA the longs here

    • Sold Sep 47.5 call options today and collected .56/sh. LO was trading around 43 at the time and heading down so I'm not sure why this trade filled. It was a GTC order placed yesterday on the big move up.

      That's an extra dividend in just 5 months.Note-LO goes XD in late August which works in my favor because the option buyers would have to exercise early in order to take my dividend.

      In other news-used the proceeds along with some other cash to buy USB at 33.3/sh.

    • Bought more at 38.38 today in my personal account.

      Thank you LO for the 6% dividend yield.

    • Did an IRA conversion today moving shares of LO from IRA to Roth thus paying taxes today and locking in all future gains and or losses in LO tax free.

      Wish me luck. Remember losses can't be written off so this move is very aggressive for an IRA. I did the same thing a few years ago when LO was trading in the mid 70s pre-split. It helped this account have a 20% gain that year.

    • I'm waiting to see if it drops to test the low at ~37.40 before I add more. Not sure it'll get there but ya never know

 
LO
71.400.00(0.00%)Jun 11 4:01 PMEDT