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Third Avenue Management's Second Quarter Top Increases and Decreases

July 02, 2013 | About:
Monica Wolfe

Monica Wolfe

133 followers
Marty Whitman’s fund, Third Avenue Management, released their second quarter portfolio changes on July 1. The fund currently holds 36 stocks valued at $2.4 billion. The following five companies represent the largest increases and decreases in Third Avenue’s holdings during the second quarter 2013.

Increases

Encana Corp. (TSX:ECA)


During the second quarter, Third Avenue made their second increase of Encana Corp. Third Avenue made their initial buy into the company during the first quarter 2013. The fund added 300,000 shares at an average price of $18.94 per share. Since their increase the price per share has decreased 6.1% from the average purchase price. Third Avenue now holds on to 1,715,824 shares of Encana, representing 1.4% of their total portfolio.

The holding history of Encana:



Click here to see the holding history of other gurus.

Encana is an energy producer that is focused on growing its strong portfolio of diverse resource plays producing natural gas, oil and NGLs. Encana's other operations include the transportation and marketing of natural gas, oil and NGLs.

Encana Corp. has a market cap of $13.08 billion; its shares were traded at around $17.79 with a P/S ratio of 2.82. The dividend yield for Encana is at 4.50%.

Encana’s historical price, revenue and net income:

1372775990840.png

Tellabs (TLAB)

Third Avenue increased their holdings on Tellabs by 8.97% during the first quarter. The fund added a total of 1,942,435 shares at an average price $2.05 per share. Since the increase, the price per share has dropped 2% from the average purchase price. Third Avenue now owns 23,590,610 shares of Tellabs, representing 2.1% of the fund’s total portfolio.

Historical holding history of Tellabs:



Click here to see the holding histories of other gurus.

Tellabs designs, develops and supports telecommunications networking products. It generates revenue mainly through the sale of these products to communications service providers worldwide as both stand-alone network elements and as elements of solutions integrated under a common network management system.

Tellabs’ historical price, revenue and net income:

1372777304247.png

Tellabs has a market cap of $736.5 million; its shares were traded at around $2.03 with a P/S ratio of 0.70. The dividend yield for the company is at 2%.

NVIDIA Corp. (NVDA)

Third Avenue increased their position in NVIDIA 8.69% during the first quarter by adding 186,868 shares to their holdings at an average price of $13.81 per share. Since this increase, the price per share has increased 2.1% from the average purchase price. Third Avenue now owns 2,336,868 shares of NVIDIA, representing 1.4% of their total portfolio.

Holding history of NVIDIA as of the end of the second quarter:



Click here for the holding history of other gurus.

NVIDIA is engaged in creating the graphics chips used in personal computers that bring games and home movies to life. It has three main financial reporting segments: GPU Business; Professional Solutions Business, or PSB; and Consumer Products Business, or CPB.

NVIDIA’s historical price, revenue and net income:

1372779795483.png

NVIDIA has a market cap of $8.24 billion; its shares were traded at around $14.28 with a P/E ratio of 15.40 and a P/S ratio of 2.10. The dividend yield for NVIDIA is at 1.60%. The company had an annual average earnings growth of 8.9% over the past 10 years.

Decreases

Daiwa Securities (TSE:8601)

Third Avenue reduced their holdings in Daiwa Securities by 26.02%. The fund sold 5,397,600 shares at an average price of ¥834.84. Since their sell, the price per share has increased approximately 4.9%. Third Avenue currently holds on to 15,343,700 shares of Daiwa, representing 5.8% of their portfolio.

Holding history of Daiwa as of the end of the second quarter:



Click here for the holding history of other gurus

Daiwa Securities Group Inc. is engaged in providing comprehensive financial services by operating in businesses such as retail and wholesale securities, investment, asset management, as well as system support and research services. Daiwa is the second largest Japanese brokerage company.

Third Avenue Management released a statement about Daiwa. Click here to read what they had to say about the company.

Daiwa Securities’ historical price, revenue and net income:

1372781440729.png

Daiwa Securities has a market cap of ¥1329.97 billion; its shares were traded at around ¥876 with a P/E ratio of 20.28 and a P/S ratio of 2.45. The dividend yield of Daiwa is 1.54%.

Toyota Industries (TSE:6201)

During the second quarter, Third Avenue decreased their holdings in Toyota Industries by 12.86%. They sold 489,500 shares at an average price of ¥3191.40 per share. Since this reduction, the price per share has increased an additional 2.4%. Third Avenue currently holds on to 3,317,200 shares, representing 5.8% of their total portfolio.

Holding history as of the end of the second quarter:



Click here to see the holding histories of other gurus.

Toyota Industries is a Japanese machine maker. The company was originally a manufacturer of automatic looms, and is the company from which Toyota Motor Corporation developed. The company is the world’s largest manufacturer of forklifts measured by revenues.

Toyota’s historical price, revenue and net income:

1372782677337.png

Toyota Industries has a market cap of ¥1220.73 billion; its shares were traded at around ¥4115.00 with a P/E ratio of 24.15 and a P/S ratio 0.79. The dividend yield of Toyota is 1.20%. The company had an annual average earnings growth of 9% over the past five years.

You can view Third Avenue’s current portfolio here.

Rating: 3.0/5 (8 votes)

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