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Gabelli’s GAMCO Investors Increases Stake in Robbins & Myers, 302%
Posted by: Dianne Tordillo (IP Logged)
Date: November 6, 2012 09:23PM
As of Nov. 2, Gabelli Asset Management Company (GAMCO) Investors grew its shares in energy, industrial, chemical and pharmaceutical equipment supplier, Robbins & Myers Inc. (RBN) by 302.31 percent, reported on GuruFocus Real Time Picks. This gives GAMCO a total of 2.7 percent ownership, with more than 1.14 million shares of Robbins & Myers common stock.
With a market cap of $2.5 billion, Robbins & Myers is currently trading at $59.59 per share.
Headquartered in Texas, Robbins & Myers’ fourth quarter ended Aug. 31, which prompted the release of its fourth quarter and full-year fiscal results in mid-October. According to the report, consolidated sales and diluted earnings per shares both underwent increases for the quarter, as well as its business segments of energy services and process and flow control.
Robbins & Myers also announced distribution of its quarterly cash dividend payment of $0.05 per share, payable to shareholders Nov. 20.
Last August, Robbins & Myers announced a merger agreement with National Oilwell Varco Inc. (NOV), a sale worth $60 per share in cash of Robbins & Myers’ 42.4 million shares outstanding. The merger was initially set for the fourth quarter; however, the company recently decided the closing could slip into 2012 due to a request for information from the U.S. Justice department.
Besides GAMCO, other funds managed by billionaire Guru Mario Gabelli, also maintain holdings of Robbins & Myers including: Gabelli Funds at 2.2 percent ownership and 927,149 shares of common stock; Gabelli Securities Inc. at 0.93 percent ownership and 392,823 shares of common stock; Gabelli Asset Management (GBL) at .05 percent ownership and 23,100 shares of common stock; Gabelli Group Capital Partners (GGCP) at .04 percent ownership at 14,937 share of common stock; and lastly, Mario Gabelli himself at 0.16 percent ownership and 64,500 shares of common stock, according to a 13D filing with the SEC.
RBN data by GuruFocus.com
In a five-year timeframe, Robbins & Myers has undergone intermittent price hikes, as it nears its 10-year high of $60.19 per share.
GuruFocus ranks Robbins & Myers a Business Predictability rank of 2 out of 5 stars, a Financial Strength rank of 6 out of 10 and a Profitability & Growth rank of 7 out of 10.
Besides Gabelli, other Gurus who have holding of the company include Joel Greenblatt, Chuck Royce, RS Investment Management, John Keeley and Jim Simons.
To view Robbins & Myers’ holding history with Gabelli and other Gurus, visit RBN: Holding History.
Guru Discussed: Mario Gabelli: Current Portfolio, Stock Picks
Stocks Discussed: RBN, NOV,
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