Legg Mason (LM)

BALTIMORE -- Legg Mason Inc. (NYSE:LM) has disclosed a 20.80 percent stake valued at $330.21 million in Eastman Kodak Co. (NYSE: EK) according to Form 13G filings with the U.S. Securities and Exchange Commission. The Baltimore-based investment firm said it owned 55.78 million shares in the Rochester, N.Y. maker of photographic equipment. The stake's value was based on Kodak's Feb. 22 closing stock price of $5.92 per share.
Is this a case of how low can you go with Kodak? Is Legg Mason seeing something traders have missed with EK now for years? Is the once might & powerful Rochester, NY company destined for a comeback? Long ago I actively followed Eastman Kodak, with it's fall from grace these past 6-8 years I took it off my monitor and forgot about it. Know what, I think it's time to put it back on the screens.

Feb 23 · 3:51:00 PM
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by Jerry Byrne