David Dreman (Trades, Portfolio) is a contrarian investor who runs Dreman Value Management LLC. The firm was founded in 1997. Dreman has been a contrarian value investor for over 30 years.
In the third quarter of 2015, Dreman reduced his position in Canon (CAJ, Financial) selling 84,443 shares, a reduction of 70.34%. He now owns 35,612 shares of Canon.
Canon is also traded in Switzerland, Japan and Argentina.
Canon was incorporated under the laws of Japan in 1937. The company is a manufacturer of office multifunction devices, plain paper copying machines, laser multifunction printers, inkjet printers, cameras and lithography equipment. Canon operates in three business segments: Office business, imaging system business, and industry and other business. Today the company has a market cap of $32.77 billion and employs more than 170,000 people worldwide.
Canon has five good signs for their company:
- They are expanding - operating expansion is usually a good sign.
- They have a comfortable interest coverage, meaning they have enough cash to cover all of their financial debt.
- The company's dividend yield is close to a three-year high.
- The P/S ratio is close to a one-year low.
- P/B ratio is close to a one-year low.
Below is a Peter Lynch chart for Canon.
It’s noteworthy that Dreman has drastically reduced his holding in Canon, a 70.34% reduction, even when the company has strong financials and good signs looking forward.
Cheers to your investment success.
