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Diamond Hill Capital Buys 12 New Stocks

February 05, 2014 | About:

Holly LaFon

273 followers
Diamond Hill Capital (Trades, Portfolio) is an Ohio-based value firm managing alternative equity strategies, mutual funds and private investment funds. Its assets managed have grown substantially over the past year, reaching $11 billion as of Sept. 30, 2013, up from around $9.4 billion a year prior.

In the fourth quarter, Diamond Hill’s Select Fund returns came in about even with the Russell 3000 Index, with fund managers attributing the relative performance to “security selection in the consumer discretionary sector. Security selection in the information technology sector and the Fund’s cash position detracted from relative return,” managers wrote in their fourth quarter 2013 commentary.

The managers in the fourth quarter also purchased 12 new stocks, for a total of 152 in their $10.96 billion portfolio. Below are the largest of the new buys.

Franklin Resources Inc. (BEN)

Diamond Hill bought 2,166,665 shares of Franklin Resources, which take a 1.1% portion of its portfolio. In the fourth quarter Franklin Resource’s share price averaged $54.

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Franklin Resources Inc. is a global investment management organization with offices in 35 countries. Franklin Resources Inc. has a market cap of $31.86 billion; its shares were traded at around $50.50 with a P/E ratio of 15.10 and P/S ratio of 3.90. The dividend yield of Franklin Resources Inc. stocks is 0.80%. Franklin Resources Inc. had an annual average earnings growth of 10.90% over the past 10 years. GuruFocus rated Franklin Resources Inc. the business predictability rank of 3.5-star.

Marsh & McLennan Companies Inc. (MMC)

Diamond Hill bought 2,398,483 shares of the stock for a 1.1% portfolio holding. The fourth quarter share price averaged $46.

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Marsh & McLennan Companies Inc. is a global professional services firm. Marsh & McLennan Companies Inc. has a market cap of $24.51 billion; its shares were traded at around $44.66 with a P/E ratio of 19.00 and P/S ratio of 2.00. The dividend yield of Marsh & McLennan Companies Inc. stocks is 2.20%. Marsh & McLennan Companies Inc. had an annual average earnings growth of 0.50% over the past 10 years.

Actavis PLC (ACT)

Diamond Hill bought 93,086 million Actavis PLC shares in the fourth quarter, giving the holding a 0.14% portfolio weight. The average price was $156 a share in the fourth quarter.

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Actavis PLC's initial public offering was in February 1993 and is a global pharmaceutical companies offering generic, brand-name and biosimilar products. Actavis PLC has a market cap of $32.22 billion; its shares were traded at around $185.06 with and P/S ratio of 3.51. Actavis PLC had an annual average earnings growth of 13.60% over the past five years.

Provident New York Bancorp (PBNY)

Diamond Hill purchased 887,694 shares of Provident New York Bancorp, a 0.11% portfolio weight. The fourth quarter share price averaged $12.

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Provident New York Bancorp, a Delaware corporation, is a unitary savings and loan holding company. Provident New York Bancorp has a market cap of $1.03 billion; its shares were traded at around $11.72 with a P/E ratio of 20.10 and P/S ratio of 3.83. The dividend yield of Provident New York Bancorp stocks is 1.96%. Provident New York Bancorp had an annual average earnings growth of 0.80% over the past 10 years.

Post Holdings Inc. (POST)

Diamond Hill bought 190,675 shares of Post Holdings Inc. in the fourth quarter, for a 0.086% portfolio weight. The stock’s fourth quarter price averaged $45 a share.

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Post Holdings Inc. is a cereal company founded over a century ago. Post Holdings Inc. has a market cap of $1.76 billion; its shares were traded at around $53.95 with a P/E ratio of 184.00 and P/S ratio of 1.70.

See more Diamond Hill stocks at its portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days here!


Rating: 3.6/5 (5 votes)

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