Wednesday, July 1, 2009

Daily Wrapup For July 1st

The averages were slightly up today; so was the P/E cutoff for the lowest quintile. (Unsophisticate that I am, I use the 12-month trailing.) 10.1 P/E was July 1st's cutoff. The dividend cutoff went down 0.01% to 2.86%.

Ninety-one companies made it through the screen, after those companies with less than 500M market cap and yield of greater than 10% were chopped out, along with ETFs. The changes in the Bin are dash-listed below:

- Compania Cervecerias Unidas SA (ADR)
- CVB Financial Corp.
- Merck & Co., Inc.

- Cooper Industries, Ltd.
- Cracker Barrel Old Country Store, Inc.
- Lincoln Electric Holdings, Inc.
- Permian Basin Royalty Trust
- Polaris Industries Inc.
- Spectra Energy Corp.

Of the arrivals, two got on the list because they didn't keep pace with the market. CVB Financial, on the other hand, had a good day; it got (back) on because its market cap rose to above 500M. Of the departures, all of them except for Permian Basin got out through P/E expansion. Permian dove out: its market cap fell below 500M.

Cervecerias is an interesting one, because it's from an industry not often seen in the Low P/E Bin: alcoholic beverages. It services boozers in Chile and Argentina; CCU's the symbol. Because it's a foreign-company ADR, its most recent earnings in Google Finance are from the second quarter of 2008. The SEC has no annuals for it at IDEA, and its symbol matches to a completely different company there. A company you may remember.

This being the first daily wrapup, I'm keeping it brief. Thanks for reading, and may the market treat you well tomorrow.

No comments:

Post a Comment