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Gurus and Insiders on Growing ManpowerGroup
Posted by: Sally Jones (IP Logged)
Date: November 25, 2013 05:24PM
In the third quarter, billionaire investors were actively trading and insiders were actively selling shares of ManpowerGroup (MAN), up 85% year-to-date. Started in 1948 through predecessor companies, ManpowerGroup provides innovative workforce solutions in the employment services industry. The company provides a range of services for the entire employment and business cycle, including recruitment for permanent, temporary and contract work. The company has a global network of over 3,800 offices in 80 countries and territories. Reaching all industry segments for global, multinational or local companies, Manpower has four brands, including ManpowerGroup Solutions, Experis, Manpower and Right Management.
Up 110% over 12 months, ManpowerGroup, a global employment and staffing company, has a market cap of $6.39 billion; shares trade with a P/E ratio of 26.70. The dividend yield is 1.10%.
The current share price is around $80.63, with a change from average up 20%.
The company reported financial results for the third quarter of 2013 with revenue of $5.2 billion. Third quarter net earnings were $94.7 million, up from $63.1 million in the same quarter of 2012. Earnings of $1.18 per diluted share were also up from $0.79 in the year-ago quarter. For the nine months ended September 30, 2013, ManpowerGroup reported earnings at $2.36 per diluted share. Last year during the same period, earnings were $1.79 per diluted share. In the same nine-month period, net earnings were $186.8 million up from $144.3 million in the prior year.
ManpowerGroup’s chairman and CEO, Jeffrey A. Joerres, commented on his company’s third quarter performance in a company press release: “We continue to experience positive momentum in all of the established strategic focus areas. Our strong results for the third quarter were driven by more positive revenue trends and operational leverage achieved through our re-calibration efforts. Our European operations’ revenue experienced slow but steadily improving trends throughout the quarter. Our team across the world remains positive and all of our brands are well positioned as we enter the fourth quarter…We are anticipating the fourth quarter of 2013 diluted earnings per share to be in the range of $1.18 to $1.26, which includes an estimated unfavorable currency impact of 1 cent. This is before considering anticipated restructuring charges of $12 million to $17 million.”
Guru Action: As of Sept. 30, 2013, the long-time stakeholder Steven Cohen made a new buy of 229,689 shares at an average price of $66.93 per share, for a gain of 20.9%. Cohen had sold out his MAN three times over a five-year history of gains.
Check out Cohen’s remarkable trading history:
Also in the third quarter of 2013, Chuck Royce reduced his position by 7.32%, selling 86,490 shares at an average price of $66.93 per share, making a gain of 20.9%. Over a five-year history of pure gains, Royce gained 67% buying 851,916 shares at an average price of $48.37 per share. Selling, he gained 48% on 310,755 shares sold at an average price of $54.84 per share.
As of Sept. 30, 2013, the top guru stakeholder Hotchkis & Wiley reduced its position by 53.27%. Hotchkis & Wiley sold in the average price range of $67.02 per share. This trade impacts their portfolio by -0.4%. Hotchkis & Wiley’s current shares are 1,294,590 or 1.65% of shares outstanding.
Since the fourth quarter of 2009, Paul Tudor Jones has sold out his holding five times, and has seen 11 quarters of double-digit and triple-digit gains. As of Sept. 30, 2013, he sold out 55,700 shares at an average price of $66.93 per share for a gain of 20.5%.
Manning & Napier Advisors also sold out the holding in the same quarter.
Check out more gurus trading and insiders selling MAN.
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Guru Discussed: Chuck Royce: Current Portfolio, Stock Picks
Paul Tudor Jones: Current Portfolio, Stock Picks
Stocks Discussed: MAN,