Tweedy Browne value team think they are seeing businesses with great economic fundamentals being driven down to unreasonable valuations in the stock markets around the world creating opportunities for patient, long-term capital. But it seems that they sold more than they bought during the third quarter, driven by fund redemptions? These are their buys and sells during the third quarter.
Tweedy Browne sells American International Group Inc., Con-way Inc. during the 3-months ended 09/30/2008, according to the most recent filings of his investment company, Tweedy Browne CO LLC. Tweedy Browne owns 62 stocks with a total value of $1.8 billion. These are the details of the buys and sells.
For the details of Tweedy Browne's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Tweedy+Browne
Added: American National Insurance Company (ANAT)
Tweedy Browne added to their holdings in American National Insurance Company by 38.53%. Their purchase prices were between $93.26 and $109.65, with an estimated average price of $96.5. The impact to their portfolio due to this purchase was 0.61%. Their holdings were 469,708 shares as of 09/30/2008.
American Nat'l Insurance's family of companies offers a broad line of products and services which include individual and group life and health insurance and annuities; personal lines property and casualty insurance; credit insurance and mutual funds. The life insurance business conducted by the American National family of companies is conducted in all states as well as in Mexico Puerto Rico Guam and American Samoa. American National is also authorized to sell its products to American military personnel in Western Europe. (Company Press Release) American National Insurance Company has a market cap of $1.87 billion; its shares were traded at around $71.77 with a P/E ratio of 7.75 and P/S ratio of 0.62. The dividend yield of American National Insurance Company stocks is 4.7%.
Added: Genuine Parts Company (GPC)
Tweedy Browne added to their holdings in Genuine Parts Company by 49.7%. Their purchase prices were between $37.52 and $42.48, with an estimated average price of $41. The impact to their portfolio due to this purchase was 0.03%. Their holdings were 36,670 shares as of 09/30/2008.
GENUINE PARTS COMPANY is a distributor of automotive replacement parts in the U.S. Canada and Mexico. The Company also distributes industrial replacement parts in the U.S. and in Canada through its Motion Industries subsidiary. S. P. Richards Company the Office Products Group distributes product nationwide in the U.S. and in Canada. The Electrical/Electronic Group EIS Inc. distributes electrical and electronic components throughout the U.S. and in Canada and Mexico. Genuine Parts Company has a market cap of $6.29 billion; its shares were traded at around $39.91 with a P/E ratio of 12.50 and P/S ratio of 0.58. The dividend yield of Genuine Parts Company stocks is 4.71%.
Added: AT&T Inc. (T)
Tweedy Browne added to their holdings in AT&T Inc. by 82.5%. Their purchase prices were between $29.53 and $32.07, with an estimated average price of $30.9. The impact to their portfolio due to this purchase was 0.03%. Their holdings were 39,895 shares as of 09/30/2008.
SBC Communications Inc. is in the communications industry. Through its subsidiaries' trusted brands and world-class network SBC and its affiliated companies provide voice data networking and e-business services including local and long-distance voice high-speed Internet access and data transport voice and data network integration software and process integration Web site and application hosting e-marketplace development paging and messaging as well as cable and satellite TV and directory advertising and publishing. (Company Press Release) AT&T Inc. has a market cap of $167.95 billion; its shares were traded at around $29.28 with a P/E ratio of 12.57 and P/S ratio of 1.40. The dividend yield of AT&T Inc. stocks is 6.48%.
Reduced: The Dow Chemical Company (DOW)
Tweedy Browne reduced to their holdings in The Dow Chemical Company by 23.33%. Their sale prices were between $31.32 and $37.11, with an estimated average price of $33.8. The impact to their portfolio due to this sale was -0.01%. Tweedy Browne still held 16,760 shares as of 09/30/2008.
Dow Chemical Company is a science and technology company that provides innovative chemical plastic and agricultural products and services to many essential consumer markets. Dow serves customers in countries across the globe and a wide range of markets that are vital to human progress including food transportation health and medicine personal and home care and building and construction among others. Committed to the principles of sustainable development Dow seeks to balance economic environmental and social responsibilities. (Company Press Release) The Dow Chemical Company has a market cap of $24.26 billion; its shares were traded at around $27.09 with a P/E ratio of 9.54 and P/S ratio of 0.41. The dividend yield of The Dow Chemical Company stocks is 7.04%.
Reduced: The PNC Financial Services Group Inc. (PNC)
Tweedy Browne reduced to their holdings in The PNC Financial Services Group Inc. by 42.11%. Their sale prices were between $54.54 and $80.44, with an estimated average price of $69.1. The impact to their portfolio due to this sale was -0.31%. Tweedy Browne still held 180,086 shares as of 09/30/2008.
The PNC Financial Services Group Inc. is one of the nation's largest diversified financial services organizations providing regional banking corporate banking real estate finance asset-based lending wealth management asset management and global fund services. (Company Press Release) The PNC Financial Services Group Inc. has a market cap of $25.11 billion; its shares were traded at around $72.63 with a P/E ratio of 19.14 and P/S ratio of 3.81. The dividend yield of The PNC Financial Services Group Inc. stocks is 4.48%.
Reduced: UniFirst Corp. (UNF)
Tweedy Browne reduced to their holdings in UniFirst Corp. by 20.31%. Their sale prices were between $42.99 and $47.39, with an estimated average price of $45.6. The impact to their portfolio due to this sale was -0.74%. Tweedy Browne still held 1,566,076 shares as of 09/30/2008.
UniFirst Corporation is a provider of workplace uniforms and protective clothing. They rent manufacture and sell a wide range of uniforms and protective clothing including shirts pants jackets coveralls jumpsuits lab coats smocks and aprons and also rent industrial wiping products floormats and other non-garment items to a variety of manufacturers retailers and service companies. They serve businesses of all sizes in numerous industry categories. UniFirst Corp. has a market cap of $604.95 million; its shares were traded at around $31.54 with a P/E ratio of 9.94 and P/S ratio of 0.60. The dividend yield of UniFirst Corp. stocks is 0.48%.
Reduced: Wells Fargo & Company (WFC)
Tweedy Browne reduced to their holdings in Wells Fargo & Company by 31.98%. Their sale prices were between $22.75 and $39.8, with an estimated average price of $30.4. The impact to their portfolio due to this sale was -0.88%. Tweedy Browne still held 1,351,169 shares as of 09/30/2008.
Wells Fargo & Company is a diversified financial services company providing banking insurance investments mortgage and consumer finance services through stores its Internet site and other distribution channels across North America as well as internationally. (Company Press Release) Wells Fargo & Company has a market cap of $114.89 billion; its shares were traded at around $35.11 with a P/E ratio of 17.04 and P/S ratio of 3.56. The dividend yield of Wells Fargo & Company stocks is 4.4%.
Sold Out: American International Group Inc. (AIG)
Tweedy Browne sold out their holdings in American International Group Inc.. Their sale prices were between $3.15 and $26.97, with an estimated average price of $19.8. The impact to their portfolio due to this sale was less than 0.01%.
American International Group Inc. world leaders in insurance and financial services is the leading international insurance organization with operations in more than one hundred thirty countries and jurisdictions. AIG companies serve commercial institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition AIG companies are leading providers of retirement services financial services and asset management around the world. American International Group Inc. has a market cap of $6.1 billion; its shares were traded at around $2.41 with P/S ratio of 0.08.
Sold Out: Con-way Inc. (CNW)
Tweedy Browne sold out their holdings in Con-way Inc.. Their sale prices were between $43.41 and $53.87, with an estimated average price of $48.7. The impact to their portfolio due to this sale was less than 0.01%.
Con-way Inc.is a freight transportation and logistics company with businesses in less-than-truckload and full truckload freight services brokerage logistics warehousing supply chain management and trailer manufacturing. The company and its subsidiaries operate across North America. Con-way?s principal component companies: Con-way Transportation Services Menlo Worldwide and Road Systems operate in regional trucking ground expedite truckload brokerage air freight forwarding regional asset based truckload global logistics management e-commerce fulfillment and trailer manufacturing. The combined components of Con-way today provide the full range of supply chain management services. Con-way has operations on five continents and provides service to essentially every major business address in the United States. Con-way Inc. has a market cap of $1.52 billion; its shares were traded at around $34.98 with a P/E ratio of 11.08 and P/S ratio of 0.31. The dividend yield of Con-way Inc. stocks is 1.26%.
ANAT,GPC,T,DOW,PNC,UNF,WFC,AIG,CNW,
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