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Brian Rogers’ Highest Sells: Kimberly-Clark, Pinnacle West Capital and Amgen Inc.
Posted by: Dianne Tordillo (IP Logged)
Date: October 17, 2012 05:18PM
Brian Rogers is the chairman of T. Rowe Price Group, and has been a major player in value investing for more than 33 years. He practices a conservative investment philosophy, pursuing the common stocks of established firms that are expected to pay above-average dividends and appear to be out of favor, or undervalued.
T. Rowe Price has been publicly traded since 1986, under the symbol (TROW), upholding an equity value of $21.98 billion.
Recently, Rogers has reported to making reductions to his stakes in several companies, with an average reduction rate of about 50 percent.
In total, he shed his holding of five companies as of Sept. 30, 2012: Kimberly-Clark Corp. (KMB), Pinnacle West Capital Corporation (PNW), Marriott International Inc. (MAR), Amgen Inc. (AMGN) and Avery Dennison Corporation (AVY).
He also sold out his entire shareholdings for the following companies: Monsanto Company (MON), Credit Suisse Group (CS), Bank of NY Mellon (BK), International Flavors & Fragrances Inc. (IFF), NYSE Euronext (NYX), PPL Corporation (PPL), and Valero Energy Corporation (VLO)
Among others, the highest sell transaction amounts by Rogers were Kimberly-Clark Corp. at more than $204 million, Pinnacle West at more than $76 million and Amgen Inc. at almost $67 million.
Kimberly-Clark Corp. (KMB)
Rogers reduced more than 75 percent of his shares of Kimberly-Clark Corp. in the third quarter. From his 3.5 million shares in the second quarter, he sold 2.3 million shares at $87.43 per share, bringing his current holding down to 745,600.
This transaction positions Rogers at his lowest holding of Kimberly Clark Corp. in five years.
Under Kimberly-Clark are a variety of global brands known in the health, hygiene and personal care sectors. These brands include Kleenex, Scott, HUGGIES, Pull-Ups, Kotex and Depend, all distributed in more than 175 countries.
Kimberly-Clark's stock value has been on the rise currently nearing its highest level since last year’s fourth quarter.
Pinnacle West Capital Corporation (PNW)
After reducing more than 58 percent of his shares of Pinnacle West, Rogers now has a total holding of the company at a little over a million shares; he sold about 1.4 million shares of Pinnacle in the third quarter, at $53.89 per share.
The transaction positions Rogers at his lowest holding of Pinnacle in the last five years.
Pinnacle West is an Arizona-based company that distributes electricity and sells energy products and services.
Hotter temperatures this year improved the company’s second quarter results, according to a Pinnacle report. Company earnings experienced a 51-percent increase compared to last year’s second quarter.
Pinnacle’s current price, too, is near the same level as its highest price in the last 12 months, at $54.05.
Amgen Inc. (AMGN)
At $89.20 per share, Rogers sold almost 760,000 of his Amgen shares, bringing his holding down to 1.75 million in the third quarter; this transaction accounted for 30.23 percent of his shares.
His current Amgen holdings trend actually shows intermittent trades compared to his previous two high sells; his current holdings of Amgen appear similar to quarters in 2009 and 2010, before increasing in shares in 2011 and early 2012.
Amgen is selling at its highest price in the past 12 months.
Earlier this month, Amgen announced a $0.36 per share dividend for the fourth quarter of 2012, which will be paid to all of its shareholders on Dec. 7
Amgen is a biotechnology company that delivers human therapeutics, and has been a staple in the medical industry since it was founded in 1980.
To see more of Brian Rogers’ portfolio, click here.
Stocks Discussed: TROW, KMB, PNW, MAR, AMGN, AVY, MON, CS, BK, IFF, NYX, PPL, VL,