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Chuck Royce's Top Five Second Quarter Portfolio Increases

August 07, 2013 | About:
Monica Wolfe

Monica Wolfe

133 followers
Chuck Royce of Royce & Associates grew his large portfolio even more so over the second quarter. The guru now holds on to a considerable 1,438 stocks, purchasing 148 over the duration of the second quarter. His portfolio is currently valued at over $32 billion.



Acacia Research Corp. (ACTG)

During the second quarter Chuck Royce made his largest increase in Acacia Research. The guru upped his position in the company 5,2142% by purchasing a total of 1,094,982 shares. He bought these shares at an average price of $25.14 per share. Since his buy, the price per share is down about -11%.

Royce now holds 1,097,082 shares of Acacia, representing 2.23% of the company’s shares outstanding and 0.076% of his total portfolio. Royce’s holding history as of the second quarter:



Acacia Research subsidiaries partner with inventors and patent owners, license the patents to corporate users, and share the revenues. Acacia Research subsidiaries control over 250 patent portfolios, covering technologies used in a variety of industries.

Acacia’s historical price, revenue and net income:

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Acacia’s second quarter financials:

· Revenues of $23.11 million, compared to $50.484 million last year.

· GAAP net loss was $12,503,000, or $0.26 per share in comparison to a net income of $6.321 million, or $0.13, reported in the second quarter 2012.

· Non-GAAP net income was $6,481,000, or $0.13 per share.

· Declared a dividend of $0.125 per share.

Acacia Research Corporation has a market cap of $1.1 billion. Its shares are currently trading at around $22.28 with a P/E ratio of 74.30, a P/S ratio of 4.70 and a P/B ratio of 1.60.

There are currently seven gurus that maintain a position in Acacia. Click here to see their holding histories.

Broadridge Financial Solutions (BR)

During the second quarter, Royce increased his position in Broadridge Financial Solutions by 16885.4%. The guru bought a total of 692,300 shares at an average price of $25.72. Since this buy, the share price has increased approximately 13.1%. Royce now owns 696,400 shares of Broadridge, representing 0.57% of the company’s shares outstanding and 0.057% of his total portfolio.

Royce’s holding history of BR as of the second quarter:



Broadridge Financial Solutions is a provider of investor communications and technology-driven solutions for broker-dealers, banks, mutual funds and corporate issuers globally. Broadridge’s infrastructure underpins proxy voting services for over 90% of public companies and mutual funds in North America.

Broadridge’s historical price, revenue and net income:

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The company is set to release its second quarter financial results tomorrow, Aug. 8, before the opening of the New York Stock Exchange.

Broadridge Financial Solutions has a market cap of $3.53 billion. Its shares are currently trading at around $29.09 with a P/E ratio of 22.90, a P/S ratio of 1.60 and a P/B ratio of 4.60. The company currently offers a 2.50% dividend yield.

There are currently six gurus that hold a position in Broadridge. Click here to see their holding histories.

John Wiley & Sons (JW.A)

During the second quarter Royce made an increase in his position in the publishing company John Wiley & Sons. The guru bought a total 195,100 shares representing a 3981.63% increase to his holdings. He purchased these shares at an average price of $38.83 per share. The price per share has increased approximately 17.8% from his average purchase price.

Royce now owns 200,000 shares of John Wiley, representing 0.34% of the company’s shares outstanding and 0.025% of his total portfolio. Royce’s holding history of John Wiley & Sons:

Wiley is a global provider of knowledge and knowledge-based solutions that improve outcomes in research, education and professional practice. The company’s core businesses produce scientific, technical, medical and scholarly journals along with reference works, books and database services.



John Wiley & Sons’ historical price, revenue and net income:

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The company released its fourth quarter and fiscal year 2013 results in June which reported:

· Fiscal year adjusted year revenue grew 1%.

· Fiscal year GAAP EPS was $2.39 per share, down from $3.47 the prior year.

· Adjusted FCF of $270 million, up from $260 million in FY12.

· Restructuring on-track to realize $80 million run rate expense savings starting in FY15.

John Wiley & Sons has a market cap of $2.68 billion. Its shares are currently trading at around $45.65 with a P/E ratio of 19.20, a P/S ratio of 1.60 and a P/B ratio of 2.60. The company has seen an annual average earnings growth of 6.1% over the past ten years.

There are eleven gurus that hold a stake in Wiley. Click here to see their holding histories.

Cutera (CUTR)

Royce increased his position in Cutera by 2271.03% during the second quarter. The guru purchased a total of 243,000 shares at an average price of $10.30 per share. Since this buy, the share price is trading down about -11.9%. Royce now holds a total of 253,700 shares, representing 1.73% of the company’s shares outstanding and 0.0069% of his total portfolio.

Royce’s holding history of Cutera:



Cutera is a global medical device company headquartered in Brisbane, California specializing in the design, development, manufacture, marketing and servicing of laser and light-based aesthetics systems for practitioners worldwide.

Cutera’s historical price, revenue and net income:

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The company’s second quarter financials reported:

· Revenue stayed flat at $19.6 million.

· Gross margin improved to 57%, up from 53% last year.

· Net loss was $0.6 million, or $0.04 per diluted share.

· Cash generated from operations was $1.9 million.

Cutera has a market cap of $133.1 million. Its shares are currently trading at around $9.06 with a P/S ratio of 1.70 and a P/B ratio of 1.40. The company has seen an annual average earnings growth of 15.5% over the past five years.

Mario Gabelli, Chuck Royce, Steven Cohen and Jim Simons all hold a stake in CUTR.

Griffon Corporation (GFF)

Another notable increase made by Royce during the second quarter was in Griffon Corporation. Royce made a 744.69% to his holdings in the company by purchasing 666,500 shares of the company’s stock. He bought these shares at an average price of $10.98 per share. Since his buy, the share price has increased about 4.7%.

Chuck Royce now owns 756,000 shares of Griffon, representing 1.24% of the company’s shares outstanding and 0.026% of his total portfolio. Royce’s holding history of GFF:



Griffon Corporation is a diversified management and holding company that conducts business through wholly-owned subsidiaries. Griffon oversees the operations of its subsidiaries, allocates resources among them and manages their capital structures. The company’s subsidiaries include Ames True Temper, Clopay Building Products, Clopay Plastic Products and Telephonics.

Griffon’s historical price, revenue and net income:

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The company’s third quarter results released yesterday highlight:

· Revenue of $510 million, up 6% from last year.

· EBITDA totaled $46.8 million compared to $51.8 million from last year.

· Net income totaled $3.6 million, or $0.06 per diluted share, compared to $9.0 million, or $0.16 per share during the third quarter 2012.

Griffon has a market cap of $702.4 million. Its shares are currently trading at around $11.71 with a P/E ratio of 53.80, a P/S ratio of 0.40 and a P/B ratio of 1.20. The company has seen an annual average earnings growth of 14.4% over the past five years.

There are six gurus that hold a position in Griffon. Click here to see their holding histories.

You can view Chuck Royce’s complete second quarter portfolio here.

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