Robert Olstein

Robert Olstein

Last Update: 2014-08-11

Number of Stocks: 123
Number of New Stocks: 11

Total Value: $741 Mil
Q/Q Turnover: 15%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Robert Olstein Watch

  • Robert Olstein Comments on International Game Technology

    On July 16, 2014, International Game Technology (IGT) announced that it has entered into a definitive merger agreement with GTECH S.p.A. for the acquisition of International Game Technology at a premium to the Fund’s cost. Following the announcement, the Fund liquidated its remaining position in International Game Technology based on a small deviation between the stock price and our calculation of intrinsic value.

    From Robert Olstein (Trades, Portfolio)’s The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders.  


  • Robert Olstein Comments on URS Corp

    On July 13, 2014, URS Corporation (URS) announced the execution of a definitive agreement under which AECOM Technology Corporation will acquire all outstanding shares of URS Corporation again at a premium to the Fund’s average cost. Similarly, on news of this announcement, the Fund sold its remaining holding in URS Corporation as the stock approached our calculation of intrinsic value.

    From Robert Olstein (Trades, Portfolio)’s The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders.  


  • Robert Olstein Comments on MICROS Systems Inc

    On June 23, 2014, MICROS Systems, Inc. (MCRS) announced that it has entered into a definitive agreement to be acquired by Oracle Corporation at a premium to the Fund’s cost. Following the news of the announcement, the Fund sold its remaining holdings in MICROS Systems, Inc., believing the acquirer paid a fair price.

    From Robert Olstein (Trades, Portfolio)’s The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders.  


  • Robert Olstein Comments on Express Inc

    On June 12, 2014, Express, Inc (EXPR). confirmed that it had received a letter from Sycamore Partners, a private equity firm that owns approximately 9.9% of the company’s outstanding shares, indicating interest in acquiring the company.

    From Robert Olstein (Trades, Portfolio)’s The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders.  


  • The Olstein Strategic Opportunities Fund’s 2014 Second Quarter Letter to Shareholders

    Dear Fellow Shareholders:


    For the fiscal year ended June 30, 2014, load-waived Class A shares of the Olstein Strategic Opportunities Fund had a return of 26.25% compared to total returns of 25.58% for the Russell 2500® Index and 24.61% for the S&P 500® Index. The past fiscal year also marked an important milestone – it was five years ago that equity markets began their strong recovery from the market low of March 9, 2009. For the five years ended June 30, 2014, load-waived Class A shares of the Olstein Strategic Opportunities Fund had an average annual return of 22.31%. Over the same time period, the Russell 2500 Index and the S&P 500 Index and had average annual returns of 21.63% and 18.83%, respectively.

      


  • Robert Olstein Comments on Teradata Corp

    Similarly, we believe investor sentiment has turned unduly negative on Teradata Corporation (TDC), (a long-time holding in the Fund since 2008), based on fears that newer technologies may effectively replace the company. We believe newer technologies will, in fact, complement Teradata Corporation’s data warehousing and analytic capabilities in a growing market segment.

    From Robert Olstein (Trades, Portfolio)’s The Olstein All Cap Value Fund’s 2014 Second Quarter Letter to Shareholders.  


  • Robert Olstein Comments on Bed Bath & Beyond Inc

    Despite Bed Bath & Beyond, Inc.’s (BBBY) recent weak stock performance caused by investor fear that internet-based retailers (particularly Amazon) would cause a permanent deterioration in sales, we believe Bed Bath & Beyond, Inc. can continue to grow its free cash flow, albeit at a slower growth rate. The current stock price, in our opinion, discounts too pessimistic of a scenario in view of the fact that the company continues to generate more than sufficient free cash flow growth and we believe that growth should continue into the foreseeable future. After the close of the fiscal year, the stock has rebounded on news that the company would undertake an aggressive $1.1 billion accelerated stock repurchase program.

    From Robert Olstein (Trades, Portfolio)’s The Olstein All Cap Value Fund’s 2014 Second Quarter Letter to Shareholders.  


  • The Olstein All Cap Value Fund’s 2014 Second Quarter Letter to Shareholders

    Dear Fellow Shareholders:


    For the fiscal year ended June 30, 2014, Class C shares of the Olstein All Cap Value Fund appreciated 21.74%, compared to total returns of 24.61% and 25.22% for the S&P 500® Index and the Russell 3000® Index, respectively. For the quarter ended June 30, 2014, Class C shares of the Olstein All Cap Value Fund appreciated 3.39% compared to total returns of 5.23% and 4.87% for the S&P 500 Index and the Russell 3000 Index, respectively.

      


  • The Olstein All Cap Value Fund’s 2014 First Quarter Letter to Shareholders

    Dear Fellow Shareholders:


    For the quarter ended March 31, 2014, Class C shares of the Olstein All Cap Value Fund had a return of 1.32% compared to total returns of 1.81% and 1.97% for the S&P 500® Index and the Russell 3000® Index, respectively. The first quarter also marked an important milestone – it was five years ago that equity markets began their strong recovery from the market low of March 9, 2009. For the five years ended March 31, 2014, the Class C share of All Cap Value Fund had an average annual return of 21.97%. Over the same time period, the S&P 500 Index and the Russell 3000 Index had average annual returns of 21.16% and 21.93%, respectively.

      


  • Number-Focused Robert Olstein Reports Top Five of Q1

    Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value.


    Over the past quarter Olstein purchased 16 new stocks bringing his total to 129 stocks valued at $731 million. The following five companies represent Olstein’s top five stock holdings.

      


  • Guru Robert Olstein's Top Five Fourth Quarter Stocks

    Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value.


    Over the past quarter Olstein purchased 10 new stocks bringing his total to 125 stocks valued at $698 million. The following five companies represent Olstein’s top five stock holdings.

      


  • Olstein Top 3 Buys Last Quarter

    Robert Olstein (Trades, Portfolio) is the chairman and chief investment officer of the Olstein Financial Alert Fund (OFALX). He is considered to be an expert in corporate financial disclosure and reporting practices.


    A description of their investment philosophy can be found here.

      


  • Weekly 3-Year Lows Highlight: FWM, FST, LAND, RDNT

    According to GuruFocus list of 3-year lows; Fairway Group Holdings Corp, Forest Oil Corp, Gladstone Land Corp, and RadNet Inc. have all reached their 3-year lows.


    Fairway Group Holdings Corp (FWM) Reached the 3-year Low of $14.49

      


  • Bob Olstein on the Economy, Amazon, Internet Stocks



  • Value Investor Robert Olstein - Don't Chase Fad Stocks

    Robert Olstein says the music has changed but the dance is the same.

    He is talking about the valuations of tech companies/social media stocks and he believes that we are again in a situation that is going to end badly for investors.  


  • Robert Olstein Decreases 37 Companies - MSFT, CSCO, HAR, THO

    The changes in the third quarter portfolio of the Olstein All-Cap Value Fund, managed by Guru Robert Olstein, include 37 reductions and sells combined, including high-impact decreases of his positions in Microsoft Corporation (MSFT), Thor Industries Inc. (THO), Cisco Systems Inc. (CSCO) and Harman International Industries Inc. (HAR).

    Robert Olstein updated portfolio lists 123 stocks, 8 of them new, and a total value at $652 million. The quarter-over-quarter turnover is 10%. Olstein’s portfolio is weighted with consumer cyclical at 22.7%, industrials at 22.7 and technology at 17.4%. He is averaging a return of 20.13% over 12 months.  


  • KSS and Tell – 16 Gurus Hold Kohl’s as Cold Weather Increases Sales

    Kohl’s Corp. (KSS) resides in the consumer cyclical sector that is home to companies engaged in retail operations and services, as well as the production of automobiles, homebuilding, household goods, textiles and apparel, to name a few.

    According to a sector review last week, Schwab boosted its rating on the consumer discretionary sector “to outperform from marketperform.” This year Schwab has been optimistic about consumers, commenting in the review: “Despite some much-understood handwringing over the state of the consumer, the labor market continues to improve, confidence among consumers appears to be rising, and housing has been steadily adding to many Americans' net worth over the past couple of years. And with what we believe continues to be some pent-up demand in the pipeline, the possibility of consumer discretionary stocks outperforming is very real. Additionally, on the company side of the ledger, we continue to see businesses aggressively manage their costs, while also seeming to better control their inventory in an attempt to maximize their profits. Finally, we believe the recent rise in oil prices largely due to Middle Eastern concerns will be short lived, and that the pullback we see coming will provide a further tailwind to consumers.”  


  • Robert Olstein's Top Second Quarter Portfolio Increases

    Robert Olstein is the chairman and chief investment officer of the Olstein Financial Fund. Olstein selects stocks by looking behind the numbers. He emphasizes a detailed look behind the numbers of a company's financial statement to assess the company's financial strength and assess potential downside risk. To be considered for his selection, a company must generate more cash flow than necessary to sustain the business, avoid aggressive accounting practices, demonstrate balance sheet fundamentals that are consistent with his defense first approach and be selling at a discount to the private market value.

      


  • Robert Olstein: A Little Closer Look

    Consider downside risk when purchasing a security before considering upside potential.” — Robert A. Olstein

    Last week, I wrote an article about Robert Olstein, the famed value investor, and his predilection for studying the shareholder letters of CEOs in their quarterly and annual reports, looking for “heat” or “trigger” items. Those items, according to Olstein, may provide either a warning for an upcoming disaster not previously noticed or a potential catalyst for unleashing cash flows even higher. This prompted me to dig further into his methodology for choosing stocks and had me reading from several sources, including those from his own website.  


  • Shareholder Letters a Worthy Read?

    Most investors are familiar with Warren Buffett’s penchant for reading annual reports regularly, but it is incumbent upon all good value investors (or investors of any stripe) to acquire a taste for reading these reports in order to obtain a more accurate or clearer picture of the equity being studied. While we attribute this habit to Buffett, all good investors should find themselves scouring the pages looking for the little details that define a “yes” or a “no” when it comes to choosing an investment.

    Robert Olstein of Olstein Capital is no different and has built a successful career as a value investor by attempting to separate the winners from the losers with his Quality of Earnings Reports. Olstein is known for looking closely at the financials or looking “behind the numbers,” watchful for aggressive accounting techniques, essentially scouring all of the SEC filings with a skeptical eye as he completes a thorough forensic analysis.  


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