Holding company Norfolk Southern Corp. (NYSE:NSC) is also involved in the railroad business, owning Norfolk Southern Railway Company. The company’s stock has endured a volatile stretch of track over the past ten months, characterized by multiple peaks and valleys, the end result of which has been a stock at nearly level from where it started that stretch at. Skylands’ position in the stock has been much less volatile in terms of its ownership, with the position remaining nearly unchanged at 509,450 shares valued at $52.43 million. As with Union Pacific, Norfolk Southern Corp. (NYSE:NSC)’s most recent earnings results, released on May 1, showed a dip in revenues due partially to a decline in coal volume due to the slumping price of that commodity. Matthew Mark’s Jet Capital Investors was a fund betting against Norfolk Southern Corp. (NYSE:NSC) at the end of 2014, with a position consisting of put options underlying 100,000 shares. Shares are down by 5.32% year-to-date.
Skylands’ Apple Inc. (NASDAQ:AAPL) holding was the only one of its top five holdings to have a change of at least 1%, being increased by that much to 351,715 shares valued at $43.76 million. Despite a massive sales performance in the first quarter and dominating growth in China, along with an aggressive plan to return money to shareholders, Apple Inc. (NASDAQ:AAPL) shares have had a rather moribund second quarter thus far, gaining less than 4%. Still, that has to be pleasing news for Carl Icahn, Apple Inc. (NASDAQ:AAPL)’s largest shareholder in our database, who has pushed for greater shareholder returns. Icahn opened a position in Apple, which owns one of the most profitable businesses ever, in August 2013, after shares had slumped for a year, though he acquired the bulk of his position during the second quarter of 2014. Icahn has made over $1.5 billion on his investment over the past 10 months.
Lastly we come to General Motors Company (NYSE:GM), its position in which Skylands increased by just under 1% to 884,250 shares with a value of $33.16 million. General Motors Company (NYSE:GM) latest earnings missed the mark by more than 10%, with earnings per share landing at $0.86 and estimates expecting $0.97. It’s difficult to know what to make of GM’s stock. On the one hand it boasts a dividend yield of over 4%, which should entice dividend players. On the other hand shares have seen virtually no growth in the four-and-a-half years since the resurrected automaker’s IPO, and its prospects for growth appear limited in the short-term. Warren Buffett continues to be one of General Motors Company (NYSE:GM)’s biggest supporters though, so that has to count for something.
Disclosure: None
