One of John Rogers (Trades, Portfolio)’ responsibilities at Ariel Investment, which he founded in 1983, is the management of Ariel Fund, and he has been successful at it. In the difficult investing environment of 2014, Ariel Fund enjoyed returns of almost 11%. The Fund’s returns were even better in 2013 (nearly 45%) and 2012 (exceeding 20%).
Consequently, his personal trading activity is worth a long look, and Rogers’ new purchases and additions to existing stakes in the third quarter deserve attention.
Rogers’ top transaction in the third quarter was his addition of 2,646,670 shares to his existing stake in Mattel Inc. (MAT, Financial), an El Segundo, Calif.-based toy company, for an average price of $23.4 per share. The deal had a 0.69% impact on Rogers’ portfolio.
Mattel has a market cap of $8.38 billion and an enterprise value of $10.35 billion. It has a P/E of 27.2, a forward P/E of 16.5, a P/B of 3.3 and a P/S of 1.5. GuruFocus has given Mattel a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
Brian Rogers (Trades, Portfolio), Jana Partners (Trades, Portfolio), Sarah Ketterer (Trades, Portfolio), Meridian Funds (Trades, Portfolio), Tom Gayner (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Richard Snow (Trades, Portfolio) and John Hussman (Trades, Portfolio) have shares of Mattel in their portfolios.
Mattel sold for $24.53 per share Friday afternoon.
Rogers also increased his stake in Bristow Group Inc. (BRS, Financial), an Aberdeen, Scotland-based civil helicopter operator, by nearly 38%. Rogers acquired 1,887,230 shares for an average price of $39.95 per share. The transaction had a 0.62% impact on Rogers’ portfolio.
Bristow Group has a market cap of $1.03 billion and an enterprise value of $1.9 billion. It has a forward P/E of 11.3, a P/B of 0.7 and a P/S of 0.6. GuruFocus has given Bristow Group a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
Rogers is Bristow Group’s leading shareholder among the gurus with 6,893,094 shares. Jim Simons (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Steven Cohen (Trades, Portfolio), John Buckingham (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), John Keeley (Trades, Portfolio) and Joel Greenblatt (Trades, Portfolio) have shares of Bristow Group in their portfolios.
Friday afternoon Bristow Group sold for $29.31 per share.
Rogers raised his stake in Baidu Inc. (BIDU, Financial), a Beijing-based web services company, by more than 79%. Rogers acquired 337,808 shares for an average price of $164.85 per share. The deal had a 0.58% impact on Rogers’ portfolio.
Baidu has a market cap of $71.69 billion and an enterprise value of $66.77 billion. It has a P/E of 38.3, a forward P/E of 29.3, a P/B of 8.2 and a P/S of 7.5. GuruFocus has given Baidu a Financial Strength rating of 9/10 and a Profitability and Growth rating of 7/10.
Frank Sands (Trades, Portfolio), Dodge & Cox, David Herro (Trades, Portfolio), First Pacific Advisors (Trades, Portfolio), Manning & Napier Advisors Inc., Jeremy Grantham (Trades, Portfolio), Matthews Pacific Tiger Fund (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Mason Hawkins (Trades, Portfolio), Jim Simons (Trades, Portfolio), Matthews China Fund (Trades, Portfolio), Chris Davis (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Ron Baron (Trades, Portfolio) and First Eagle Investment (Trades, Portfolio) have shares of Baidu in their portfolios.
Baidu sold for $208.01 per share Friday afternoon.
Rogers added 1,661,953 shares to his stake in Tegna Inc. (TGNA, Financial), a McLean, Va.-based broadcast and digital media company, for an average price of $26.47 per share. The transaction had a 0.46% impact on Rogers’ portfolio.
Tegna has a market cap of $6.2 billion and an enterprise value of $10.81 billion. It has a P/E of 6.5, a forward P/E of 12.2, a P/B of 2.9 and a P/S of 1.0. GuruFocus has given Tegna a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Carl Icahn (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Manning & Napier Advisors Inc., Joel Greenblatt (Trades, Portfolio), John Keeley (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Scott Black (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Tegna in their portfolios.
Friday afternoon Tegna sold for $28.08 per share.
Rogers added 1,401,210 shares to his stake in Kennametal Inc. (KMT, Financial), a Latrobe, Pa.-based metals company, for an average price of $29.88 per share. The acquisition had a 0.43% impact on Rogers’ portfolio.
Kennametal has a market cap of $2.19 billion and an enterprise value of $2.85 billion. It has a forward P/E of 17.3, a P/B of 1.7 and a P/S of 0.9. GuruFocus has given Kennametal a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.
Rogers is Kennametal’s leading shareholder among the gurus with a stake of 9,612,523 shares. Chuck Royce (Trades, Portfolio), Richard Snow (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Columbia Wanger (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), Jim Simons (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Mario Gabelli (Trades, Portfolio) and Ray Dalio (Trades, Portfolio) also have shares of Kennametal in their portfolios.
Kennametal sold for $27.47 per share Friday afternoon.
Rogers increased his stake in Viacom Inc. (VIAB, Financial), a New York-based mass media company, by more than 63%. He bought 726,885 shares for an average price of $49.63 per share. The deal had a 0.39% impact on Rogers’ portfolio.
Viacom has a market cap of $20.87 billion and an enterprise value of $20.73 billion. It has a P/E of 11.5, a forward P/E of 8.8, a P/B of 6.1 and a P/S of 1.6. GuruFocus has given Viacom a Financial Strength rating of 4/10 and a Profitability and Growth rating of 8/10.
Donald Yacktman (Trades, Portfolio), Yacktman Fund (Trades, Portfolio), NWQ Managers (Trades, Portfolio), Yacktman Focused Fund (Trades, Portfolio), Brian Rogers (Trades, Portfolio), Murray Stahl (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Richard Snow (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Robert Olstein (Trades, Portfolio), Scott Black (Trades, Portfolio), Chuck Royce (Trades, Portfolio), David Dreman (Trades, Portfolio), Jeff Auxier (Trades, Portfolio) and Manning & Napier Advisors Inc. have shares of Viacom in their portfolios.
Friday afternoon Viacom sold for $52.66 per share.
Rogers acquired a 2,711,983-share stake in Media General Inc. (MEG, Financial), a media company with offices in Richmond, Va., Providence, R.I., and Austin, Texas, for an average price of $13.57 per share. The transaction had a 0.47% impact on Rogers’ portfolio.
Media General has a market cap of $2.01 billion and an enterprise value of $4.25 billion. It has a forward P/E of 11.2, a P/B of 1.4 and a P/S of 1.6. GuruFocus has given Media General a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.
Mario Gabelli (Trades, Portfolio), Warren Buffett (Trades, Portfolio), John Keeley (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Chuck Royce (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) have shares of Media General in their portfolios.
Media General sold for $15.68 per share Friday afternoon.
Rogers bought a 1,115,810-share stake in Progressive Corp. (PGR, Financial), a Mayfield Village, Ohio-based insurance company, for an average price of $30.21 per share. The deal had a 0.43% impact on Rogers’ portfolio.
Progressive has a market cap of $18.42 billion and an enterprise value of $18.81 billion. It has a P/E of 14.2, a forward P/E of 15.5, a P/B of 2.4 and a P/S of 0.9. GuruFocus has given Progressive a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
PRIMECAP Management (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Manning & Napier Advisors Inc., Ruane Cunniff (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Chris Davis (Trades, Portfolio) have shares of Progressive in their portfolios.
Friday afternoon Progressive sold for $31.53 per share.
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