With all the negative publicity surrounding CLF, the share price has fallen to about half of it's book value ($34.86 according to Yahoo)
Wouldn't it be interesting to see a third party come in, offer a $24-26 tender for all outstanding shares, and try to #$%$ CLF at a about a 33% discount to book value?
Forest Labs up nearly 30% on buyout bid. The fund has a big position in the stock (second biggest holding). Right place, right time...
Well, they as just INCREASED the dividend about one month ago, I 'd say your query is moot.
Still, kudos for a great loaded question. It's like the divorce attorney asking the husband, "Have you stopped beating your wife?." If he says ,"Yes," he implies that he used to beat her; if he responds, "No" he implies that he still beats her. There is no correct answer to the question. lol
Solid report.. Stock has plenty of room on the upside,unless you think AH trading is reflective of true market sentiment in which case you don't belong in the market... Not many stocks out there with strong revs and earning plus 5% div.
Twenty years ago I would have agreed with you that a split would be imminent at this price, but not so much now. Stock splits have become unfashionable, especially among mega-cap companies that were spilt-happy during the 80s and 90s and have spent the past two decades trying to buy alot of those same shares back. They had become overly dilutive as to the percieved "value" of the stock among investors and were becoming increasingly ineffective in boosting the stock's post-split price.
A number of big companies over-capitalized during the heyday of stock-splitting.Intel and Cisco are just two examples. Both have about 5 billion and shares outstanding (due to a flurry of splits in the 90s). and both have share prices lower than when their shares last split--over ten years ago! The only company with a higher market value than Exxon is Apple Computer, and thier shares are currently selling at $550 each. What benefit would Exxon accrue by pricing their shres at $46?.
That said, I think your shares will continue to due well in the furture, slpit or not. Like I said, it's a great company.
Doesn't make much sense to me; they've spent the last 20 years buying back over 2 billion shares. Why issue it back in a split?