The recent market downturn has sent a lot of good companies into 52-week lows. Last week's largest five stocks that have reached their 52-week low are Fannie Mae (FNM, Financial), Lowe’s Companies Inc (LOW, Financial), Cemex S.A.B. de C.V (CX, Financial), Washington Mutual Inc. (WM, Financial), and CBS Corp. (CBS, Financial).
This week’s top two out of favor industries are the same as the last weeks, which are the banking and the retail, the low/high ratios of both industries have increased, especially in the banking industry.. 114 banking companies have reached the 52-week low, and 9 have reached the 52-week high. The high/low ratio of the Banking Industry is 12.67. 39 retail companies have reached the 52-week low, and 15 have reached the 52-week high. The low/high ratio of the Retail Industry is 2.6. All these ratios are significantly higher than the last week, as these two industries continue to be out of favor.
Fannie Mae (FNM) Reached the 52-Week Low of $52.61
The prices of Fannie Mae (FNM) shares have declined to 52-week low of $52.61, which is 26.8% off the 52-week high of $70.57. Fannie Mae is owned by 11 Gurus we are tracking. Among them, 5 have added to their positions during the past quarter. 5 reduced their positions.
Fannie Mae, the semi-government corporation, provides funds to mortgage lenders through the purchase of mortgage assets, and issues and guarantees mortgage-related securities that facilitate the flow of funds into the mortgage market in the United States. Fannie Mae has a market cap of $51.21 billion; its shares were traded at around $52.61 with P/E ratio of 14.41 and P/S ratio of 6.70. The dividend yield of Fannie Mae stocks is 3.7%.
The earnings of Fannie Mae were eroded by reductions in interest income and steeper credit losses triggered by the decline in home prices and credit crisis. Fannie Mae’s profits dropped to $4.1 billion ($3.65 a share) in 2006.
Gurus' Positions with FNM
Fannie Mae is owned by 11 Gurus.
2 Gurus Initiated Positions in FNM: Ken Heebner bought 635,000 shares in the quarter ended 06/30/2007, which is 0.56% of the $7.45 billion portfolio of CAPITAL GROWTH MANAGEMENT LP. George Soros bought 3,477 shares in the quarter ended 06/30/2007, which is 0.01% of the $3.15 billion portfolio of Soros Fund Management LLC.
9 Gurus Kept Positions in FNM Unchanged or Slightly Adjusted: Among them Arnold Schneider owns 1,892,966 shares as of 06/30/2007, which accounts for 2.83% of the $4.37 billion portfolio of Schneider Capital Management. David Dreman owns 8,780,364 shares as of 06/30/2007, which accounts for 2.93% of the $19.55 billion portfolio of Dreman Value Management. NWQ Managers owns 21,510,640 shares as of 06/30/2007, which accounts for 4.05% of the $34.67 billion portfolio of NWQ Investment Management Co. Richard Pzena owns 18,131,299 shares as of 06/30/2007, which accounts for 4.2% of the $28.22 billion portfolio of Pzena Investment Management LLC. In his recent columns, David Dreman recommended FNM again, saying it is one of long term favorite.
Lowe's Companies Inc. (LOW) Reached the 52-Week Low of $26
The prices of Lowe's Companies Inc. (LOW) shares have declined to 52-week low of $26, which is 28.1% off the 52-week high of $35.74. Lowe's Companies Inc. is owned by 9 Gurus we are tracking. Among them, 6 have added to their positions during the past quarter. 2 reduced their positions.
Lowe's Companies, Inc. and its subsidiaries operate as a home improvement retailer in the United States and Canada. The company offers a range of products and services for home decoration, maintenance, repair, remodeling, and property maintenance. Lowe's Companies Inc. has a market cap of $38.44 billion; its shares were traded at around $26 with P/E ratio of 12.96 and P/S ratio of 0.81. The dividend yield of Lowe's Companies Inc. stocks is 1.2%.
Lowe’s Companies, Inc. profits have been hurt by the slumping real estate market, with fewer people willing to invest in home improvements. U.S. home foreclosures doubled in the third quarter from a year earlier with sub prime borrowers failing to keep up with higher payments on adjustable-rate mortgages.
Gurus' Positions with LOW
Lowe's Companies Inc. is owned by 11 Gurus.
5 Gurus Increased Positions in LOW: Among them Wallace Weitz owns 3,191,890 shares as of 06/30/2007, an increase of 2483.48% from the previous quarter. This position accounts for 1.78% of the $5.38 billion portfolio of Weitz Wallace R & Co. Tom Gayner owns 65,400 shares as of 06/30/2007, an increase of 115.13% from the previous quarter. This position accounts for 0.1% of the $1.94 billion portfolio of Markel Gayner Asset Management Corp.
4 Gurus Kept Positions in LOW Unchanged or Slightly Adjusted: Among them Warren Buffett’s Berkshire Hathaway owns 7,000,000 shares as of 06/30/2007, which accounts for 0.32% of the $66 billion portfolio of Berkshire Hathaway. Ruane Cunniff owns 6,263,782 shares as of 06/30/2007, which accounts for 1.55% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc.
1 Guru Reduced Positions in LOW: Kenneth Fisher owns 55,818 shares as of 06/30/2007, a decrease of 99.17% of from the previous quarter. This position accounts for 0.01% of the $37.1 billion portfolio of Fisher Asset Management, LLC.
1 Guru Sold Out LOW: Ronald Muhlenkamp sold out his holdings in the quarter ended 06/30/2007.
Recent Insider Trades of Lowe's Companies Inc. CEO:
Chairman and CEO Robert A Niblock sold 107,452 shares of LOW stock on 08/23/2007 at the average price of $29.33, the price of the stock has decreased by 11.35% since.
Recent Insider Trades of Lowe's Companies Inc. Directors and Officers:
Chief Information Officer Steven M Stone sold 7,268 shares of LOW stock on 09/05/2007 at the average price of $30.15, the price of the stock has decreased by 13.76% since.
EVP Business Development Gregory M Bridgeford sold 84,532 shares of LOW stock on 08/23/2007 at the average price of $29.46, the price of the stock has decreased by 11.74% since.
President & COO Larry D Stone sold 268,732 shares of LOW stock on 06/04/2007 at the average price of $32.7, the price of the stock has decreased by 20.49% since.
Cemex S.A.B. de C.V. (CX) Reached the 52-Week Low of $28.49
The prices of Cemex S.A.B. de C.V. (CX) shares have declined to close to 52-week low of $28.49, which is 32.3% off the 52-week high of $41.36. Cemex S.A.B. de C.V. is owned by 4 Gurus we are tracking. Among them, 2 have added to their positions during the past quarter. 2 reduced their positions.
CEMEX, S.A.B. de C.V., through its subsidiaries, engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and other construction materials worldwide. Cemex S.A.B. de C.V. has a market cap of $21.39 billion; its shares were traded at around $28.49 with P/E ratio of 27.58 and P/S ratio of 1.18. The dividend yield of Cemex S.A.B. de C.V. stocks is 2.6%.
The recent slowed housing market certainly hurt Cemex’s business. Its share prices declined together with all housing related stocks such as Lowe’s.
Gurus' Positions with CX
Cemex S.A.B. de C.V. is owned by 4 Gurus.
1 Guru Increased Positions in CX: Dodge & Cox owns 29,211,992 shares as of 06/30/2007, an increase of 18.79% from the previous quarter. This position accounts for 0.78% of the $138.5 billion portfolio of Dodge & Cox.
3 Gurus Kept Positions in CX Unchanged or Slightly Adjusted:
Mason Hawkins owns 54,654,749 shares as of 06/30/2007, which accounts for 5.94% of the $33.96 billion portfolio of Southeastern Asset Management. Cemex is one of his largest holdings. Ronald Muhlenkamp owns 4,046,886 shares as of 06/30/2007, which accounts for 5.55% of the $2.69 billion portfolio of Muhlenkamp Fund.
1 Guru Sold Out CX: George Soros sold out his holdings in the quarter ended 06/30/2007.
Washington Mutual Inc. (WM) Reached the 52-Week Low of $23.81
The prices of Washington Mutual Inc. (WM) shares have declined to 52-week low of $23.81, which is 49.1% off the 52-week high of $46.38. Washington Mutual Inc. is owned by 10 Gurus we are tracking. Among them, 3 have added to their positions during the past quarter. 4 reduced their positions.
Washington Mutual, Inc., together with its subsidiaries, operates as a consumer and small business banking company in the United States. It operates in four segments: Retail Banking, Card Services, Commercial, and Home Loans. Washington Mutual Inc. has a market cap of $20.54 billion; its shares were traded at around $23.81 with P/E ratio of 7.57 and P/S ratio of 1.76. The dividend yield of Washington Mutual Inc. stocks is 8.7%.
Banking Industry is hard hit by the recent news in sub-prime mortgages. Investors worries that mortgage default will rise significantly, Washington Mutual has been heavily involved in mortgage business.
Gurus' Positions with WM
Washington Mutual Inc. is owned by 9 Gurus.
1 Guru Initiated Positions in WM: Charles Brandes bought 12,856,011 shares in the quarter ended 09/30/2007, which is 0.83% of the $54.85 billion portfolio of Brandes Investment.
1 Guru Increased Positions in WM: HOTCHKIS & WILEY owns 7,297,692 shares as of 06/30/2007, an increase of 23.46% from the previous quarter. This position accounts for 0.94% of the $33.15 billion portfolio of HOTCHKIS & WILEY Capital Managment LLC.
6 Gurus Kept Positions in WM Unchanged or Slightly Adjusted: Among them David Dreman owns 12,476,152 shares as of 06/30/2007, which accounts for 2.72% of the $19.55 billion portfolio of Dreman Value Management. Bill Nygren is one of the largest owners of WaMu. He owns 20,167,400 shares as of 06/30/2007 in his Oakmark Select Fund, which accounts for 14.75% of the $5.8 billion of the fund’s portfolio.
We have seen some interesting insider buys from WaMu’s board of directors. Director Orin Smith bought 10,700 shares of WM stock on 10/30/2007 at the average price of $28.03, the price of the stock has decreased by 15.06% since. Director Michael K Murphy bought 500 shares of WM stock on 10/19/2007 at the average price of $28.7. Back in August, he bought 1000 shares. The prices has declined by one-third since. Insiders seem to be confident in WaMu’s business. No directors have sold shares since the prices declined to below $43.
CBS Corp. (CBS) Reached the 52-Week Low of $27.67
The prices of CBS Corp. (CBS) shares have declined to the 52-week low of $27.67, which is 23.9% off the 52-week high of $35.75. CBS Corp. is owned by 5 Gurus we are tracking. Among them, 3 have added to their positions during the past quarter. 8 reduced their positions.
CBS Corporation operates as a mass media company in the United States and internationally. It operates in four segments: Television, Radio, Outdoor, and Publishing. CBS Corp. has a market cap of $20.35 billion; its shares were traded at around $27.67 with P/E ratio of 16.60 and P/S ratio of 1.45. The dividend yield of CBS Corp. stocks is 3.5%.
Gurus' Positions with CBS
CBS Corp. is owned by 5 Gurus.
4 Gurus Kept Positions in CBS Unchanged or Slightly Adjusted: Among them, John Rogers owns 6,266,731 shares as of 06/30/2007, which accounts for 1.43% of the $13.23 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC. Brian Rogers owns 5,500,000 shares as of 09/30/2007, which accounts for 0.7% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. Jean-Marie Eveillard owns 3,148,910 shares as of 06/30/2007, which accounts for 0.73% of the $14.39 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. NWQ Managers owns 18,308,868 shares as of 06/30/2007, which accounts for 1.76% of the $34.67 billion portfolio of NWQ Investment Management Co.
1 Guru Reduced Positions in CBS: Richard Pzena owns 91,837 shares as of 06/30/2007, a decrease of 96.6% of from the previous quarter. This position accounts for 0.01% of the $28.22 billion portfolio of Pzena Investment Management LLC.
3 Gurus Sold Out CBS:
David Dreman, Ruane Cunniff, and Wallace Weitz all sold out their holdings in the quarter ended 06/30/2007.
This week’s top two out of favor industries are the same as the last weeks, which are the banking and the retail, the low/high ratios of both industries have increased, especially in the banking industry.. 114 banking companies have reached the 52-week low, and 9 have reached the 52-week high. The high/low ratio of the Banking Industry is 12.67. 39 retail companies have reached the 52-week low, and 15 have reached the 52-week high. The low/high ratio of the Retail Industry is 2.6. All these ratios are significantly higher than the last week, as these two industries continue to be out of favor.
Fannie Mae (FNM) Reached the 52-Week Low of $52.61
The prices of Fannie Mae (FNM) shares have declined to 52-week low of $52.61, which is 26.8% off the 52-week high of $70.57. Fannie Mae is owned by 11 Gurus we are tracking. Among them, 5 have added to their positions during the past quarter. 5 reduced their positions.
Fannie Mae, the semi-government corporation, provides funds to mortgage lenders through the purchase of mortgage assets, and issues and guarantees mortgage-related securities that facilitate the flow of funds into the mortgage market in the United States. Fannie Mae has a market cap of $51.21 billion; its shares were traded at around $52.61 with P/E ratio of 14.41 and P/S ratio of 6.70. The dividend yield of Fannie Mae stocks is 3.7%.
The earnings of Fannie Mae were eroded by reductions in interest income and steeper credit losses triggered by the decline in home prices and credit crisis. Fannie Mae’s profits dropped to $4.1 billion ($3.65 a share) in 2006.
Gurus' Positions with FNM
Fannie Mae is owned by 11 Gurus.
2 Gurus Initiated Positions in FNM: Ken Heebner bought 635,000 shares in the quarter ended 06/30/2007, which is 0.56% of the $7.45 billion portfolio of CAPITAL GROWTH MANAGEMENT LP. George Soros bought 3,477 shares in the quarter ended 06/30/2007, which is 0.01% of the $3.15 billion portfolio of Soros Fund Management LLC.
9 Gurus Kept Positions in FNM Unchanged or Slightly Adjusted: Among them Arnold Schneider owns 1,892,966 shares as of 06/30/2007, which accounts for 2.83% of the $4.37 billion portfolio of Schneider Capital Management. David Dreman owns 8,780,364 shares as of 06/30/2007, which accounts for 2.93% of the $19.55 billion portfolio of Dreman Value Management. NWQ Managers owns 21,510,640 shares as of 06/30/2007, which accounts for 4.05% of the $34.67 billion portfolio of NWQ Investment Management Co. Richard Pzena owns 18,131,299 shares as of 06/30/2007, which accounts for 4.2% of the $28.22 billion portfolio of Pzena Investment Management LLC. In his recent columns, David Dreman recommended FNM again, saying it is one of long term favorite.
Lowe's Companies Inc. (LOW) Reached the 52-Week Low of $26
The prices of Lowe's Companies Inc. (LOW) shares have declined to 52-week low of $26, which is 28.1% off the 52-week high of $35.74. Lowe's Companies Inc. is owned by 9 Gurus we are tracking. Among them, 6 have added to their positions during the past quarter. 2 reduced their positions.
Lowe's Companies, Inc. and its subsidiaries operate as a home improvement retailer in the United States and Canada. The company offers a range of products and services for home decoration, maintenance, repair, remodeling, and property maintenance. Lowe's Companies Inc. has a market cap of $38.44 billion; its shares were traded at around $26 with P/E ratio of 12.96 and P/S ratio of 0.81. The dividend yield of Lowe's Companies Inc. stocks is 1.2%.
Lowe’s Companies, Inc. profits have been hurt by the slumping real estate market, with fewer people willing to invest in home improvements. U.S. home foreclosures doubled in the third quarter from a year earlier with sub prime borrowers failing to keep up with higher payments on adjustable-rate mortgages.
Gurus' Positions with LOW
Lowe's Companies Inc. is owned by 11 Gurus.
5 Gurus Increased Positions in LOW: Among them Wallace Weitz owns 3,191,890 shares as of 06/30/2007, an increase of 2483.48% from the previous quarter. This position accounts for 1.78% of the $5.38 billion portfolio of Weitz Wallace R & Co. Tom Gayner owns 65,400 shares as of 06/30/2007, an increase of 115.13% from the previous quarter. This position accounts for 0.1% of the $1.94 billion portfolio of Markel Gayner Asset Management Corp.
4 Gurus Kept Positions in LOW Unchanged or Slightly Adjusted: Among them Warren Buffett’s Berkshire Hathaway owns 7,000,000 shares as of 06/30/2007, which accounts for 0.32% of the $66 billion portfolio of Berkshire Hathaway. Ruane Cunniff owns 6,263,782 shares as of 06/30/2007, which accounts for 1.55% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc.
1 Guru Reduced Positions in LOW: Kenneth Fisher owns 55,818 shares as of 06/30/2007, a decrease of 99.17% of from the previous quarter. This position accounts for 0.01% of the $37.1 billion portfolio of Fisher Asset Management, LLC.
1 Guru Sold Out LOW: Ronald Muhlenkamp sold out his holdings in the quarter ended 06/30/2007.
Recent Insider Trades of Lowe's Companies Inc. CEO:
Chairman and CEO Robert A Niblock sold 107,452 shares of LOW stock on 08/23/2007 at the average price of $29.33, the price of the stock has decreased by 11.35% since.
Recent Insider Trades of Lowe's Companies Inc. Directors and Officers:
Chief Information Officer Steven M Stone sold 7,268 shares of LOW stock on 09/05/2007 at the average price of $30.15, the price of the stock has decreased by 13.76% since.
EVP Business Development Gregory M Bridgeford sold 84,532 shares of LOW stock on 08/23/2007 at the average price of $29.46, the price of the stock has decreased by 11.74% since.
President & COO Larry D Stone sold 268,732 shares of LOW stock on 06/04/2007 at the average price of $32.7, the price of the stock has decreased by 20.49% since.
Cemex S.A.B. de C.V. (CX) Reached the 52-Week Low of $28.49
The prices of Cemex S.A.B. de C.V. (CX) shares have declined to close to 52-week low of $28.49, which is 32.3% off the 52-week high of $41.36. Cemex S.A.B. de C.V. is owned by 4 Gurus we are tracking. Among them, 2 have added to their positions during the past quarter. 2 reduced their positions.
CEMEX, S.A.B. de C.V., through its subsidiaries, engages in the production, distribution, marketing, and sale of cement, ready-mix concrete, aggregates, and other construction materials worldwide. Cemex S.A.B. de C.V. has a market cap of $21.39 billion; its shares were traded at around $28.49 with P/E ratio of 27.58 and P/S ratio of 1.18. The dividend yield of Cemex S.A.B. de C.V. stocks is 2.6%.
The recent slowed housing market certainly hurt Cemex’s business. Its share prices declined together with all housing related stocks such as Lowe’s.
Gurus' Positions with CX
Cemex S.A.B. de C.V. is owned by 4 Gurus.
1 Guru Increased Positions in CX: Dodge & Cox owns 29,211,992 shares as of 06/30/2007, an increase of 18.79% from the previous quarter. This position accounts for 0.78% of the $138.5 billion portfolio of Dodge & Cox.
3 Gurus Kept Positions in CX Unchanged or Slightly Adjusted:
Mason Hawkins owns 54,654,749 shares as of 06/30/2007, which accounts for 5.94% of the $33.96 billion portfolio of Southeastern Asset Management. Cemex is one of his largest holdings. Ronald Muhlenkamp owns 4,046,886 shares as of 06/30/2007, which accounts for 5.55% of the $2.69 billion portfolio of Muhlenkamp Fund.
1 Guru Sold Out CX: George Soros sold out his holdings in the quarter ended 06/30/2007.
Washington Mutual Inc. (WM) Reached the 52-Week Low of $23.81
The prices of Washington Mutual Inc. (WM) shares have declined to 52-week low of $23.81, which is 49.1% off the 52-week high of $46.38. Washington Mutual Inc. is owned by 10 Gurus we are tracking. Among them, 3 have added to their positions during the past quarter. 4 reduced their positions.
Washington Mutual, Inc., together with its subsidiaries, operates as a consumer and small business banking company in the United States. It operates in four segments: Retail Banking, Card Services, Commercial, and Home Loans. Washington Mutual Inc. has a market cap of $20.54 billion; its shares were traded at around $23.81 with P/E ratio of 7.57 and P/S ratio of 1.76. The dividend yield of Washington Mutual Inc. stocks is 8.7%.
Banking Industry is hard hit by the recent news in sub-prime mortgages. Investors worries that mortgage default will rise significantly, Washington Mutual has been heavily involved in mortgage business.
Gurus' Positions with WM
Washington Mutual Inc. is owned by 9 Gurus.
1 Guru Initiated Positions in WM: Charles Brandes bought 12,856,011 shares in the quarter ended 09/30/2007, which is 0.83% of the $54.85 billion portfolio of Brandes Investment.
1 Guru Increased Positions in WM: HOTCHKIS & WILEY owns 7,297,692 shares as of 06/30/2007, an increase of 23.46% from the previous quarter. This position accounts for 0.94% of the $33.15 billion portfolio of HOTCHKIS & WILEY Capital Managment LLC.
6 Gurus Kept Positions in WM Unchanged or Slightly Adjusted: Among them David Dreman owns 12,476,152 shares as of 06/30/2007, which accounts for 2.72% of the $19.55 billion portfolio of Dreman Value Management. Bill Nygren is one of the largest owners of WaMu. He owns 20,167,400 shares as of 06/30/2007 in his Oakmark Select Fund, which accounts for 14.75% of the $5.8 billion of the fund’s portfolio.
We have seen some interesting insider buys from WaMu’s board of directors. Director Orin Smith bought 10,700 shares of WM stock on 10/30/2007 at the average price of $28.03, the price of the stock has decreased by 15.06% since. Director Michael K Murphy bought 500 shares of WM stock on 10/19/2007 at the average price of $28.7. Back in August, he bought 1000 shares. The prices has declined by one-third since. Insiders seem to be confident in WaMu’s business. No directors have sold shares since the prices declined to below $43.
CBS Corp. (CBS) Reached the 52-Week Low of $27.67
The prices of CBS Corp. (CBS) shares have declined to the 52-week low of $27.67, which is 23.9% off the 52-week high of $35.75. CBS Corp. is owned by 5 Gurus we are tracking. Among them, 3 have added to their positions during the past quarter. 8 reduced their positions.
CBS Corporation operates as a mass media company in the United States and internationally. It operates in four segments: Television, Radio, Outdoor, and Publishing. CBS Corp. has a market cap of $20.35 billion; its shares were traded at around $27.67 with P/E ratio of 16.60 and P/S ratio of 1.45. The dividend yield of CBS Corp. stocks is 3.5%.
Gurus' Positions with CBS
CBS Corp. is owned by 5 Gurus.
4 Gurus Kept Positions in CBS Unchanged or Slightly Adjusted: Among them, John Rogers owns 6,266,731 shares as of 06/30/2007, which accounts for 1.43% of the $13.23 billion portfolio of ARIEL CAPITAL MANAGEMENT LLC. Brian Rogers owns 5,500,000 shares as of 09/30/2007, which accounts for 0.7% of the $23.8 billion portfolio of T Rowe Price Equity Income Fund. Jean-Marie Eveillard owns 3,148,910 shares as of 06/30/2007, which accounts for 0.73% of the $14.39 billion portfolio of Arnhold & S. Bleichroeder Advisers, LLC. NWQ Managers owns 18,308,868 shares as of 06/30/2007, which accounts for 1.76% of the $34.67 billion portfolio of NWQ Investment Management Co.
1 Guru Reduced Positions in CBS: Richard Pzena owns 91,837 shares as of 06/30/2007, a decrease of 96.6% of from the previous quarter. This position accounts for 0.01% of the $28.22 billion portfolio of Pzena Investment Management LLC.
3 Gurus Sold Out CBS:
David Dreman, Ruane Cunniff, and Wallace Weitz all sold out their holdings in the quarter ended 06/30/2007.
