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Third Quarter Guru Action on Broadly Held JOY, EOG

October 29, 2013 | About:
Sally Jones

Sally Jones

49 followers
Joy Global Inc. (JOY) and EOG Resources (EOG) are two global companies broadly held by billionaires and traded in the third quarter of 2013. Numerous billionaires hold JOY as of the second quarter of 2013, and two insiders have sold so far in 2013. As of the third quarter of 2013, Manning & Napier Advisors is still the top JOY stakeholder after the firm reduced its position.

At EOG Resources, there are also numerous guru stakeholders, and five sell outs made in the first half of 2013. The third quarter of 2013 has seen trading by Diamond Hill Capital and Manning & Napier Advisors. EOG Resources has seen very active insider selling this year.

Here are the trade highlights from the third quarter:

Guru: Manning & Napier Advisors Inc.

Joy Global Inc. (JOY): Reduced

Portfolio Impact: -0.11%

Remaining Shares: 3,719,570

Down 8% over 12 months, Joy Global Inc.has a market cap of $6.12 billion; its shares were traded at around $57.55 with a P/E of 8.60. The dividend yield is 1.20%.

Joy Global Inc. is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The company’s equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands and other minerals. The company operates in two business segments: Underground Mining Machinery and Surface Mining Equipment. Joy Global has manufacturing facilities in Australia, South Africa, China, the UK and the U.S., as well as offices and facilities in India, Poland and Russia.

Guru Action: As of Sept. 30, 2013, of Manning & Napier Advisors Inc. reduced its position by 9.77%, unloading 402,575 shares at an average price of $51.01, gaining 11.8%.

Across six quarters, Manning & Napier had a loss of 2% on 4,136,795 shares bought at an average price of $58.00 per share. The firm gained 11% on 417,225 shares bought at an average price of $51.44 per share.

Manning & Napier holds 3.5% of JOY shares outstanding.

Other Guru Action: As of Sept. 30, 2013, Brian Rogers increased his position by 10%, buying 250,000 shares at an average price of $51.01, for a gain of 12.8%.

Brian Rogers has held for three quarters, averaging a gain of 1% buying 2,750,000 shares at an average price of $56.91 per share.

Track historical pricing, revenue and net income:

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Check out more guru trading action for JOY.

Guru: Diamond Hill Capital

EOG Resources (EOG): Reduced

Portfolio Impact: -0.26%

Remaining Shares: 1,408,249

Up 59% over 12 months, EOG Resources Inc. has a market cap of $50.54 billion; its shares were traded at around $185.54 with a P/E ratio of 50.60. The dividend yield is 0.40%.

Organized in 1985, EOG Resources Inc. explores for, develops, produces and markets natural gas and crude oil mainly in major producing basins in the U.S., Canada, Republic of Trinidad and Tobago and the UK. EOG focuses on the cost-effective utilization of advances in technology to reduce the risks associated with all aspects of oil and gas exploration, development and exploitation.

Guru Action: As of Sept. 30, 2013, Diamond Hill Capital reduced its position by 11.36%, selling 180,493 shares at an average price of $155.20, for a gain of 17.5%.

Diamond Hill has averaged a gain of 81% buying 2,479,949 shares at an average price of $100.73 per share. The firm has also averaged a gain of 47% selling 1,071,700 shares at an average price of $123.98 per share.

Diamond Hill Capital holds 0.52% of EOG shares outstanding.

Other Guru Action: As of Sept. 30, 2013, Manning & Napier Advisors also reduced its position by 4.79%, selling 51,217 shares at an average price of $155.20, for a gain of 19.5%.

The firm has averaged a gain of 85% buying 1,293,138 shares at an average price of $100.12 per share. On the sell side, the firm has also averaged a gain of 49% selling 275,725 shares at an average price of $124.37 per share.

Chris Davis is the top guru stakeholder, as of the second quarter of 2013, with 4,181,418 shares of 1.14% of shares outstanding.

Check out more guru trading action for EOG.

Track historical pricing, revenue and net income:

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About the author:

Sally Jones
Sally Jones writes about Real Time Picks. She says, "I truly enjoy watching the Gurus in realtime and telling their story."

Rating: 3.5/5 (2 votes)

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