GuruFocus Premium Membership

Serving Intelligent Investors since 2004. Only 96 cents a day.

Free Trial

Free 7-day Trial
All Articles and Columns »

105-Year-Old Irving Kahn Buys Is Finding Value: C, NYT, ASTE

November 10, 2011 | About:

gurufocus

350 followers
Irving is the only value investor of our time who experienced the great depression as an adult. In 1928, at the age of 23, he went to work on Wall Street as a stock analyst and brokerage clerk. By the tail end of the Great Depression, in 1939, he’d made enough money in the market to move his wife and two children out of public housing and into their own house in the suburbs. Today, at the age of 105, he still goes work every day. “There are a lot of opportunities out there, and one shouldn’t complain, unless you don’t have good health,” says Kahn.

In the quarter ended on Sept. 30, Irving Kahn buys Citigroup Inc., New York Times Co. Cl A, Astec Industries Inc., sells Flushing Financial Corp., Medco Health Solutions Inc., NewMarket during the 3-months ended 09/30/2011, according to the most recent filings of his investment company, Kahn Brothers. As of 09/30/2011, Kahn Brothers owns 49 stocks with a total value of $425 million. These are the details of the buys and sells.

This is the portfolio chart of Irving Kahn. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Irving Kahn's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Irving+Kahn

This is the sector weightings of his portfolio:

Health Care 39.3%
Financials 30.2%
Consumer Goods 9.6%
Consumer Services 5.9%
Oil & Gas 4.9%
Industrials 4.2%
Telecom 3.5%
Technology 2.3%
Basic Materials 0.1%
Not Assigned 0.1%
Utilities 0.1%


These are the top 5 holdings of Irving Kahn

  1. BristolMyers Squibb Co. (BMY) - 1,610,881 shares, 11.9% of the total portfolio. Shares reduced by 3.79%
  2. Pfizer Inc. (PFE) - 2,588,862 shares, 10.7% of the total portfolio. Shares reduced by 1.72%
  3. New York Community Bancorp Inc. (NYB) - 3,633,261 shares, 10.1% of the total portfolio. Shares reduced by 1.46%
  4. Merck & Co. Inc. (MRK) - 1,309,532 shares, 10.1% of the total portfolio. Shares reduced by 9.19%
  5. Seaboard Corp. (SEB) - 15,230 shares, 6.5% of the total portfolio. Shares reduced by 1.87%


Added: Citigroup Inc. (C)

Irving Kahn added to his holdings in Citigroup Inc. by 19.59%. His purchase prices were between $23.96 and $42.63, with an estimated average price of $32.61. The impact to his portfolio due to this purchase was 0.84%. His holdings were 849,308 shares as of 09/30/2011.

Citigroup Inc. has a market cap of $84.18 billion; its shares were traded at around $28.85 with a P/E ratio of 7.7 and P/S ratio of 0.9. The dividend yield of Citigroup Inc. stocks is 0.1%.

Added: New York Times Co. Cl A (NYT)

Irving Kahn added to his holdings in New York Times Co. Cl A by 6.87%. His purchase prices were between $5.65 and $9.21, with an estimated average price of $7.72. The impact to his portfolio due to this purchase was 0.29%. His holdings were 3,306,240 shares as of 09/30/2011.

New York Times Company is a diversified media company including newspapers, television and radio stations, magazines, electronic information and publishing, Internet businesses, and forest products investments. New York Times Co. Cl A has a market cap of $1.02 billion; its shares were traded at around $6.9 with a P/E ratio of 10.6 and P/S ratio of 0.7. New York Times Co. Cl A had an annual average earnings growth of 0.1% over the past 5 years.

Added: Astec Industries Inc. (ASTE)

Irving Kahn added to his holdings in Astec Industries Inc. by 30.93%. His purchase prices were between $28.85 and $39.37, with an estimated average price of $34.21. The impact to his portfolio due to this purchase was 0.21%. His holdings were 127,000 shares as of 09/30/2011.

Astec Industries Inc. designs, engineers, manufactures, markets, and finances equipment and components used primarily in road building and related construction activities. Astec Industries Inc. has a market cap of $747.9 million; its shares were traded at around $32.97 with a P/E ratio of 19.9 and P/S ratio of 0.9.

Reduced: Flushing Financial Corp. (FFIC)

Irving Kahn reduced to his holdings in Flushing Financial Corp. by 43.16%. His sale prices were between $10.17 and $13.27, with an estimated average price of $11.69. The impact to his portfolio due to this sale was -0.26%. Irving Kahn still held 150,586 shares as of 09/30/2011.

FLUSHING FINANCIAL CORP. is a unitary savings and loan holding company, which, under existing laws, is generally not restricted as to types of business activities in which it may engage, provided that the subsidiary, continues to be a qualified thrift lender. Flushing Financial Corp. has a market cap of $384.6 million; its shares were traded at around $12.2 with a P/E ratio of 10.5 and P/S ratio of 1.6. The dividend yield of Flushing Financial Corp. stocks is 4.2%. Flushing Financial Corp. had an annual average earnings growth of 1.9% over the past 10 years.

Reduced: Medco Health Solutions Inc. (MHS)

Irving Kahn reduced to his holdings in Medco Health Solutions Inc. by 52.25%. His sale prices were between $47.93 and $65.96, with an estimated average price of $54.55. The impact to his portfolio due to this sale was -0.07%. Irving Kahn still held 6,618 shares as of 09/30/2011.

Medco Health Solutions, Inc. is the nation's largest pharmacy benefit manager, or PBM. Medco Health Solutions Inc. has a market cap of $21.66 billion; its shares were traded at around $56.19 with a P/E ratio of 14.5 and P/S ratio of 0.3. Medco Health Solutions Inc. had an annual average earnings growth of 24.3% over the past 10 years.

Reduced: NewMarket (NEU)

Irving Kahn reduced to his holdings in NewMarket by 31.48%. His sale prices were between $135.01 and $178.16, with an estimated average price of $162.25. The impact to his portfolio due to this sale was -0.04%. Irving Kahn still held 3,265 shares as of 09/30/2011.

NewMarket Corporation through its subsidiaries, Afton Chemical Corporation and Ethyl Corporation, develops, manufactures, blends, and delivers chemical additives that enhance the performance of petroleum products. NewMarket has a market cap of $2.58 billion; its shares were traded at around $186.63 with a P/E ratio of 12.7 and P/S ratio of 1.4. The dividend yield of Newmarket stocks is 1.4%. NewMarket had an annual average earnings growth of 52.9% over the past 5 years.

About the author:

gurufocus
GuruFocus - Stock Picks and Market Insight of Gurus

Rating: 3.6/5 (12 votes)

Comments

Please leave your comment:


Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
Free 7-day Trial
FEEDBACK