Two gurus filed 13Ds in the last two days reporting that they reduced their holdings in companies in which they owned a 5% or more stake. The companies they shed shares of were Iris International (IRIS, Financial), Meyers Industries Inc. (MYE, Financial) and Nabi Biopharmaceuticals (NABI, Financial).
Mario Gabelli
Mario Gabelli, founder, chairman, and CEO of Gabelli Asset Management Company Investors (GAMCO Investors), sold 80.97% of his shares of Iris International Inc. at the average price of $9.39. He owns 305,000 shares as of April 7.
[GuruFocus Correction April 13, 2011: Mario Gabelli did not sell 80.97% of his shares of Iris International Inc. and does not own 305,000 shares. Rather, he increased his position by 6.2% and owns 1,702,640 shares as of April 7.)
IRIS International Inc., based in Chatsworth, Calif., creates in vitro diagnostic systems and consumables. Iris International Inc. has a market cap of $167.1 million; its shares were traded at around $9.39 with a P/E ratio of 34.7 and P/S ratio of 1.5. Iris International Inc. had an annual average earnings growth of 1.5% over the past 5 years.
IRIS International’s shares have been trending downward for the last year as has its operating income – it has fallen from $2.52 to $0.06 million from Dec. 2009 to Dec. 2010. Revenues, however, have increased from $92.6 million for 2009 to $107.6 million for 2010.
Gabelli also reduced his shares of Myers Industries Inc. (MYE) by 0.19% at the average price of $10.51. He owns 1,562,377 shares as of April 6, 2011. He increased his holdings 0.26% two days prior, on April 4, at $9.97 per share.
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 $378.3 million; its shares were traded at around $10.67 with a P/E ratio of 27.3 and P/S ratio of 0.5. The dividend yield of Myers Industries Inc. stocks is 2.6%.
On March 4, Meyers Industries increased its quarterly dividend 8% to $0.07 per share. The new dividend was payable on April 4. The company’s before-taxes income for the quarter ended Sept. 30, 2010, was $4.6 million, up from a loss of $1.8 million in the same quarter in 2009. The company attributes increase to higher sales. Additionally, earnings the year prior were marred by restructuring expenses of approximately $3.9 million.
Daniel Loeb
Daniel Loeb, hedge fund manager and founder of Third Point LLC, reduced his holdings in Nabi Biopharmaceuticals by 8.13% at the average price of %5.76 per share. He now owns 3,493,100 shares. Additionally, he reduced his holdings on Dec. 20, 2010; June 30, 2010; May 5, 2010; and April 15, 2010; with no increases.
Nabi Biopharmaceuticals is a vertically integrated company committed to unlocking the power of the human immune system to help people with serious, unmet medical needs. Nabi Biopharmaceuticals has a market cap of $246.9 million; its shares were traded at around $5.8 with and P/S ratio of 7.
The company’s stock has risen only marginally in the first quarter. Its revenue growth over the past 10 years was -24%, and -26.4% over the last 5 years. In the quarter ended Dec. 20, the company had a $6.37 million loss. The stock has remained rather stable over the past year.
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Mario Gabelli
Mario Gabelli, founder, chairman, and CEO of Gabelli Asset Management Company Investors (GAMCO Investors), sold 80.97% of his shares of Iris International Inc. at the average price of $9.39. He owns 305,000 shares as of April 7.
[GuruFocus Correction April 13, 2011: Mario Gabelli did not sell 80.97% of his shares of Iris International Inc. and does not own 305,000 shares. Rather, he increased his position by 6.2% and owns 1,702,640 shares as of April 7.)
IRIS International Inc., based in Chatsworth, Calif., creates in vitro diagnostic systems and consumables. Iris International Inc. has a market cap of $167.1 million; its shares were traded at around $9.39 with a P/E ratio of 34.7 and P/S ratio of 1.5. Iris International Inc. had an annual average earnings growth of 1.5% over the past 5 years.
IRIS International’s shares have been trending downward for the last year as has its operating income – it has fallen from $2.52 to $0.06 million from Dec. 2009 to Dec. 2010. Revenues, however, have increased from $92.6 million for 2009 to $107.6 million for 2010.
Gabelli also reduced his shares of Myers Industries Inc. (MYE) by 0.19% at the average price of $10.51. He owns 1,562,377 shares as of April 6, 2011. He increased his holdings 0.26% two days prior, on April 4, at $9.97 per share.
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 $378.3 million; its shares were traded at around $10.67 with a P/E ratio of 27.3 and P/S ratio of 0.5. The dividend yield of Myers Industries Inc. stocks is 2.6%.
On March 4, Meyers Industries increased its quarterly dividend 8% to $0.07 per share. The new dividend was payable on April 4. The company’s before-taxes income for the quarter ended Sept. 30, 2010, was $4.6 million, up from a loss of $1.8 million in the same quarter in 2009. The company attributes increase to higher sales. Additionally, earnings the year prior were marred by restructuring expenses of approximately $3.9 million.
Daniel Loeb
Daniel Loeb, hedge fund manager and founder of Third Point LLC, reduced his holdings in Nabi Biopharmaceuticals by 8.13% at the average price of %5.76 per share. He now owns 3,493,100 shares. Additionally, he reduced his holdings on Dec. 20, 2010; June 30, 2010; May 5, 2010; and April 15, 2010; with no increases.
Nabi Biopharmaceuticals is a vertically integrated company committed to unlocking the power of the human immune system to help people with serious, unmet medical needs. Nabi Biopharmaceuticals has a market cap of $246.9 million; its shares were traded at around $5.8 with and P/S ratio of 7.
The company’s stock has risen only marginally in the first quarter. Its revenue growth over the past 10 years was -24%, and -26.4% over the last 5 years. In the quarter ended Dec. 20, the company had a $6.37 million loss. The stock has remained rather stable over the past year.
For the latest stock trades by Gurus, go to: Real Time Picks.
