Two gurus filed 13Ds to the SEC in the last two weeks. Mario Gabelli purchased shares of LGL Group Inc. (LGL, Financial) and Myers Industries Inc. (MYE, Financial), and Chris Davis reported buying shares of Iron Mountain (IRM, Financial).
Mario Gabelli
Mario Gabelli bought 56,717 shares of The LGL Group Inc. (LGL) at the average price of $13.78 on Monday, increasing his stake in the company by 141.65%. The LGL Group Inc. is a holding corporation for two manufacturing subsidiaries. The LGL Group Inc. has a market cap of $36.06 million. Its shares were traded around $12.78 with a P/E ratio of 3.29 and a P/S ratio of .77. He is the only guru invested in the company.
LGL Group Inc. has had robust earnings reports of late. For the fiscal year ended Dec. 31, 2010, revenues were approximately $46,656,000 equating to a 49.1% increase. Earnings per share for that year were $4.19, compared to a loss per share of $1.15 the year prior. The company reported in its annual stockholder letter that it would be concentrating on new design efforts in the year ahead, specifically timing applications it believes will be foundational for new products in the Telecom and MISA (Military Instrumentation, Space and Avionics) market segments. Their customer forecasts project that revenue growth will continue in the second half of 2011.
Gabelli also reported increasing his holdings in Myers Industries Inc. (MYE) by .26% at an average purchase price of $9.97, bringing his total investment to 1565377.
Myers Industries Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. Myers Industries Inc. has a market cap of $353.5 million; its shares were traded at around $9.97 with a P/E ratio of 25.56 and P/S ratio of 0.48. The dividend yield of Myers Industries Inc. stocks is 2.81%.
Myers Industries is a stock Gabelli has been periodically acquiring since June of 2010. No other gurus own the stock.
On March 14, the company increased its quarterly dividend 8% to $0.07 per share, beginning on April 4, 2011, to shareholders of record since March 10, 2011. The new payout has a yield of $2.9%. Meyers Industries heavily focuses on innovation, recently launching a material handling innovation in pallet-sized reusable containers, and receiving marine fuel tank certificate of conformity from the EPA, just ahead of new EPA requirements. The company has stated it plans to allocate resources toward developing further advancements in fuel tanks and systems for the marine industry.
Chris Davis
Guru Chris Davis of Davis Funds money management firm increased his stock holdings in Iron Mountain (IRM) by 8.44% at the average price of $30.9 on March 23, 2011.
Iron Mountain Incorporated is one of the world's largest records and information management services company. Iron Mountain has a market cap of $6.49 billion; its shares were traded at around $32.44 with a P/E ratio of 28 and P/S ratio of 2.1. The dividend yield of Iron Mountain stocks is 2.3%. Iron Mountain had an annual average earnings growth of 12.2% over the past 10 years. GuruFocus rated Iron Mountain the business predictability rank of 4-star.
On March 13, Iron Mountain moved to implement a “shareholders’ rights plan” that would ensure that shareholders “realize the full value of their investment in the company” and to reduce the likelihood that any one shareholder take over the company.
Warren Buffett sold out of this stock on Sept. 30, 2010. It is still owned by gurus Wallace Weitz and Arnold Van Den Berg.
Information regarding 13D filings comes from GuruFocus' Real Time Picks.
Mario Gabelli
Mario Gabelli bought 56,717 shares of The LGL Group Inc. (LGL) at the average price of $13.78 on Monday, increasing his stake in the company by 141.65%. The LGL Group Inc. is a holding corporation for two manufacturing subsidiaries. The LGL Group Inc. has a market cap of $36.06 million. Its shares were traded around $12.78 with a P/E ratio of 3.29 and a P/S ratio of .77. He is the only guru invested in the company.
LGL Group Inc. has had robust earnings reports of late. For the fiscal year ended Dec. 31, 2010, revenues were approximately $46,656,000 equating to a 49.1% increase. Earnings per share for that year were $4.19, compared to a loss per share of $1.15 the year prior. The company reported in its annual stockholder letter that it would be concentrating on new design efforts in the year ahead, specifically timing applications it believes will be foundational for new products in the Telecom and MISA (Military Instrumentation, Space and Avionics) market segments. Their customer forecasts project that revenue growth will continue in the second half of 2011.
Gabelli also reported increasing his holdings in Myers Industries Inc. (MYE) by .26% at an average purchase price of $9.97, bringing his total investment to 1565377.
Myers Industries Inc. is an international manufacturer of polymer products for industrial, agricultural, automotive, commercial, and consumer markets. Myers Industries Inc. has a market cap of $353.5 million; its shares were traded at around $9.97 with a P/E ratio of 25.56 and P/S ratio of 0.48. The dividend yield of Myers Industries Inc. stocks is 2.81%.
Myers Industries is a stock Gabelli has been periodically acquiring since June of 2010. No other gurus own the stock.
On March 14, the company increased its quarterly dividend 8% to $0.07 per share, beginning on April 4, 2011, to shareholders of record since March 10, 2011. The new payout has a yield of $2.9%. Meyers Industries heavily focuses on innovation, recently launching a material handling innovation in pallet-sized reusable containers, and receiving marine fuel tank certificate of conformity from the EPA, just ahead of new EPA requirements. The company has stated it plans to allocate resources toward developing further advancements in fuel tanks and systems for the marine industry.
Chris Davis
Guru Chris Davis of Davis Funds money management firm increased his stock holdings in Iron Mountain (IRM) by 8.44% at the average price of $30.9 on March 23, 2011.
Iron Mountain Incorporated is one of the world's largest records and information management services company. Iron Mountain has a market cap of $6.49 billion; its shares were traded at around $32.44 with a P/E ratio of 28 and P/S ratio of 2.1. The dividend yield of Iron Mountain stocks is 2.3%. Iron Mountain had an annual average earnings growth of 12.2% over the past 10 years. GuruFocus rated Iron Mountain the business predictability rank of 4-star.
On March 13, Iron Mountain moved to implement a “shareholders’ rights plan” that would ensure that shareholders “realize the full value of their investment in the company” and to reduce the likelihood that any one shareholder take over the company.
Warren Buffett sold out of this stock on Sept. 30, 2010. It is still owned by gurus Wallace Weitz and Arnold Van Den Berg.
Information regarding 13D filings comes from GuruFocus' Real Time Picks.
