Hedge Fund Buying Alerts: Michael Kors Holdings Ltd (KORS), J.C. Penney Company, Inc. (JCP) & More

Claus Moller’s P2 Capital has been increasing its already large ownership stake in Blount International Inc (NYSE:BLT) to nearly 7 million shares (research more stocks P2 owns).  Blount International Inc (NYSE:BLT) is a $590 million market cap provider of forestry, lawn, and farm tools (on average over 270,000 shares are traded per day, so at the current stock price of about $12 there is plenty of daily dollar volume). Earnings were down 29% last quarter compared to the second quarter of 2012. Given the respective trailing and forward P/Es of 15 and 11, the financial community seems to be expecting something of a rebound here.

About 5% of Quanex Building Products Corporation (NYSE:NX) is owned by Jeffrey Gates’s Gates Capital Management according to a recent 13G. Quanex Building Products Corporation (NYSE:NX) provides aluminum sheets as well as components used to install windows and doors; the company is therefore one possible way to play the housing market and construction activity in residential real estate. The stock trades at 44 times forward earnings estimates as investors are bullish on the industry; revenue was up 20% in its most recent quarter compared to the same period in the previous fiscal year, though Quanex Building Products Corporation (NYSE:NX) reported a net loss.

Disclosure: I own no shares of any stocks mentioned in this article.