FMD surge in weak market
Unicredito Italiano has disclosed a 5.1% stake in FMD according to 13D filings. This bank has been pretty active with M&A in the past. As I've mentioned many times now, FMD is significantly undervalued at these levels.
posted by Never-Limp at 11:26 AM
2 Comments:
Unrelated to the position disclosure... but, FMD announced a hefty quarterly dividend increase from 15c to 25c. And, in the same press release, it seems that they are authorized to buy back quite a few more shares.
If they bought back 100% of the authorized, then I think we'd be looking at almost 10% boost to EPS by virtue of decreased share count.
That press release came after the close.
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