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Van Den Berg Reduces WIRE, IIVI
Posted by: Sally Jones (IP Logged)
Date: October 18, 2013 05:06PM
Century Management’s Arnold Van Den Berg heads a portfolio of 64 stocks, seven of them new, and a total value of $1.01 billion, and a quarter over quarter turnover of 5%. The portfolio is currently weighted with top three sectors: technology at 33.3%, financial services at 16.3% and basic materials at 12.8%. Guru Van Den Berg has averaged a return of 12.19% over 12 months.
In third quarter trading, Arnold Van Den Berg sold out three companies and reduced these two positions, including Encore Wire, one of America's Most Trustworthy Companies, as named by Forbes.
Read about the three sell outs made by Guru Van Den Berg made in the third quarter of 2013.
Encore Wire Corporation (WIRE): Reduced
Impacts Portfolio: -0.55%
Up 35% over 12 months, Encore Wire Corporation has a market cap of $851 million; its shares were traded at around $41.14 with a P/E ratio of 26.10. The dividend yield is 0.20%.
Incorporated in 1989, Encore Wire Corporation is a Texas-based manufacturer of copper electrical building wire and cable. The company is a supplier of building wire for interior electrical wiring in commercial and industrial buildings, homes, apartments, and manufactured housing. Encore Wire Corporation offers an electric building wire product line that consists mainly of NM-B cable, UF-B cable, THWN-2 and other types of wire products, including armored cable.
In 2012 and for four consecutive years, Encore Wire Corporation made the Forbes list of America’s Most Trustworthy Companies in the small-cap category.
The company reported its 2013 second quarter financials with $15.5 million in net income for the quarter, up from $2.3 million in the same quarter of 2012. For the six months ending June 30, 2013, net income is reported as $21.8 million, compared to $9.06 million in the same period of 2012. The company reports EBITDA for the second quarter of 2013 at $27.7 million, up from $7.77 million in the same quarter of 2012.
Guru Action: As of Sept. 30, 2013, Arnold Van Den Berg reduced his position by 36.9%, unloading 156,540 shares at an average price of $39.01, for a gain of 5.5%.
The trading history shows nine quarters of gains. Van Den Berg gained 83% on 552,622 shares bought at an average price of $22.43. Selling 284,916 shares at an average price of $35.04, he gained 17%.
His current shares are 267,706.
Van Den Berg is one of five gurus holding WIRE. There is one insider trade in 2013.
Track historical pricing, revenue and net income:
II-VI Inc. (IIVI): Reduced
Impacts Portfolio: -0.03%
Up 8% over 12 months, II-VI Inc. has a market cap of $1.18 billion; its shares were traded at around $18.90 with a P/E ratio of 23.60.
Incorporated in 1971, II-VI Inc. is a global engineered materials and opto-electronics company that develops, manufactures and markets high-technology materials and derivative precision components and products for precision use in industrial, military, optical communication, photovoltaic, medical and aerospace applications. The company’s four reportable segments are Infrared Optics, Near-Infrared Optics, Military and Materials, and Advanced Products Group.
II-VI Inc. reported last week that it will acquire Oclaro Inc., a micro-optics business, for $88.6 million, pending approvals. The company also reported its financial results for fourth quarter of fiscal year ending June 30, 2013, with a 13% increase in revenue year-over-year. For the reporting quarter, revenue was a record $155 million compared to $136.9 million in the same quarter of 2012. For the fiscal year ending, revenue was up 4% year over year at $558.4 million, compared to $534.6 million for the previous fiscal year.
Guru Action: As of Sept. 30, 2013, Arnold Van Den Berg reduced his position by 30.27%, unloading 19,340 shares at an average price of $18.59, for a gain of 1.7%.
The trading history shows two quarters of gains, dating back to the second quarter of 2013, his highest quarter gaining 15.3% on a new buy of 63,895 shares bought at an average price of $16.39 per share.
His current shares stand at 44,555.
Van Den Berg is one of four gurus holding IIVI and there is active insider trading to report.
Track historical pricing, revenue and net income:
Since founding Century Management in 1974, Arnold "Arnie" Van Den Berg has beaten all of the indices. Guru Van Den Berg is a value investor, and considers himself a student of Benjamin Graham.
His top buys, sells and holdings:
Check out the rest of Arnold Van Den Berg’s portfolio.
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Guru Discussed: Arnold Van Den Berg: Current Portfolio, Stock Picks
Stocks Discussed: WIRE, IIVI,