Adams Express (ADX) Reports Q1 Net Capital Gain of 7c/Share
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Adams Express (NYSE: ADX) reported the following first-quarter 2012 updates:
"For the three months ended March 31st, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was12.5%. Comparable figures for the Standard & Poor's 500 Index (S&P 500) and the Lipper Large-Cap Core Mutual Fund Average (Lipper Peer Group) were 12.6% and 12.4%, respectively. The total return on Adams Express' market value was 14.4%. The net capital gain realized by Adams Express on its investments for the three months was $0.07 per share.
"During the first quarter, the Company added ten new names to its portfolio with the purchases of shares of Affiliated Managers Group (asset management), AT&T Corp., Diageo plc ADR (beverages), Express Scripts Inc. (health care), Kansas City Southern (railroad), McKesson Corp. (health care), MetLife Inc., NiSource Inc. (utility), Terex Corp. (industrial machinery), and Verizon Communications Inc. The Company added to its existing holdings in AXIS Capital Holdings, CF Industries, Emerson Electric, General Electric, Honeywell, Schlumberger, South Jersey Industries, and Wisconsin Energy. The Company eliminated one name from the portfolio with the sale of its shares of Abbott Laboratories. Holdings were reduced in ADTRAN, Apple, Bank of America, BorgWarner, Broadcom, Bunge, Caterpillar, Celgene, Chevron, F5 Networks, Freeport-McMoRan, Hewlett-Packard, MDU Resources, Morgan Stanley, NetApp, Norfolk Southern, Northeast Utilities, Oracle, Peabody Energy, Potash Corporation, Prudential, T. Rowe Price, Teva Pharmaceutical, United Technologies, and Zimmer."
"For the three months ended March 31st, the total return on Adams Express' net asset value, with dividends and capital gains reinvested, was12.5%. Comparable figures for the Standard & Poor's 500 Index (S&P 500) and the Lipper Large-Cap Core Mutual Fund Average (Lipper Peer Group) were 12.6% and 12.4%, respectively. The total return on Adams Express' market value was 14.4%. The net capital gain realized by Adams Express on its investments for the three months was $0.07 per share.
"During the first quarter, the Company added ten new names to its portfolio with the purchases of shares of Affiliated Managers Group (asset management), AT&T Corp., Diageo plc ADR (beverages), Express Scripts Inc. (health care), Kansas City Southern (railroad), McKesson Corp. (health care), MetLife Inc., NiSource Inc. (utility), Terex Corp. (industrial machinery), and Verizon Communications Inc. The Company added to its existing holdings in AXIS Capital Holdings, CF Industries, Emerson Electric, General Electric, Honeywell, Schlumberger, South Jersey Industries, and Wisconsin Energy. The Company eliminated one name from the portfolio with the sale of its shares of Abbott Laboratories. Holdings were reduced in ADTRAN, Apple, Bank of America, BorgWarner, Broadcom, Bunge, Caterpillar, Celgene, Chevron, F5 Networks, Freeport-McMoRan, Hewlett-Packard, MDU Resources, Morgan Stanley, NetApp, Norfolk Southern, Northeast Utilities, Oracle, Peabody Energy, Potash Corporation, Prudential, T. Rowe Price, Teva Pharmaceutical, United Technologies, and Zimmer."
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