In the third quarter, the dropping price of aluminum made a direct impact on SUP’s bottom line. Superior Industries International reported financial results for the third quarter of 2013 with a net income of $5.2 million, compared to $15.1 in the third quarter of 2012. Earnings for the third quarter of 2013 were $0.19 per diluted share, down from $0.55 in the same quarter a year ago. The company reported consolidated net sales down 1% at $191.6 million in the third quarter of 2013, compared to $193.9 million in the same quarter of 2012, indicating the drop in aluminum’s value, hitting a four-year low. Superior’s gross profit was $15.4 million, up from last year’s same quarter at $15 million. In May 2013, the company broke ground on its new wheel plant in Chihuahua, Mexico, and anticipates the facility will be operation in early 2015, according to a company press release.
Here’s a company update and recent guru trade details.
Superior Industries International (SUP)
Up 1% over 12 months, Superior Industries International has a market cap of $525.1 million; its shares were traded at around $19.09 with a P/E ratio of 27.30. The dividend yield is 4.30%.
Here’s the GuruFocus analysis of SUP, showing two good signs and five warnings.
Tracking historical share price, revenue and net income:
Third Quarter Guru Action: As of Sept. 30, 2013, John Rogers made a new buy of 37,000 shares at an average price of $17.96 per share, for a gain of 6.3%.
In the same quarter, Joel Greenblatt sold out his SUP, after six quarters of trading. He sold 45,970 shares at an average price of $17.96 per share, gaining 6.3%.
Greenblatt’s highest gain of 10.8% was made on a new buy of 77,857 shares bought at an average price of $17.23 per share in the second quarter of 2012. The holding’s low point was a loss of 5.7% in the first quarter of 2013 when he bought 16,436 shares at an average price of $20.25 per share.
Also in the third quarter, Third Avenue Management reduced its position by 72.74%, selling 1,173,453 shares at an average price of $17.96 per share, gaining 6.3%.
The firm has averaged a gain of 7% on 331,213 shares bought at an average price of $17.85 per share. The firm also gained 14% on 4,147,640 shares sold at an average price of $16.77 per share.
Third Avenue’s holding history:
Here’s more third quarter trading of SUP. Check out the insider selling.
Real Time Trade
Guru Action: As of Nov. 25, 2013, Mario Gabelli reduced his position by 0.81%, selling shares in the average price range of $18.73. This trade follows his add of 6.85% made as of Nov. 7, 2013, buying shares in the average price range of $18.77, making a portfolio impact of 0.02%.
In the third quarter of 2013, Gabelli bought 429,702 shares at an average price of $17.96 per share, for a gain of 6.3%.
Over a five-year history, Gabelli has averaged a gain of 9% on 2,378,298 shares bought at an average price of $17.46 per share. He gained 24% selling 521,400 shares at an average price of $15.34 per share.
The largest guru stakeholder of SUP, Gabelli’s current shares are 2,361,198 or 8.58% of shares outstanding.
Gabelli’s holding history:
Check out more recent sells made by Mario Gabelli.
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