A quarterly peek into Oakmark Intl. Small Cap’s portfolio is like seeing a snapshot of global business activity for that time period. No single region or country tends to stand out – unless you look at the numbers, which could be reacting to or anticipating events outside the marketplace.
Oakmark’s most noteworthy third-quarter transaction was its purchase of a 3,195,000-share stake in Metso Corp. (OHEL:MEO1V, Financial), a Helsinki-based industrial machinery company, for an average price of €22.85 (about $24.45 in U.S. currency) per share. The transaction had a 2.47% impact on Oakmark’s portfolio.
Metso has a market cap of $3.49 billion and an enterprise value of $3.69 billion. It has a P/E of 9.5, a forward P/E of 15.3, a P/B of 2.5 and a P/S of 2.0. GuruFocus has given Metso a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.
Metso sold for €23.3 (around $24.80 in American dollars) per share Friday.
Oakmark also bought a 10,014,000-share stake in Melrose Industries PLC (LSE:MRO, Financial), a British-based investment company, for an average price of £2.64 (roughly $4.03 in American money) per share. The deal had a 1.49% impact on Oakmark’s portfolio.
Melrose Industries has a market cap of $2.85 billion and an enterprise value of $3.58 billion. It has a P/E of 15.2, a forward P/E of 25.3, a P/B of 2.2 and a P/S of 2.1. GuruFocus has given Melrose Industries a Financial Strength rating of 7/10 and a Profitability and Growth rating of 4/10.
Friday Melrose Industries sold for £2.86 (roughly $4.34 in U.S. currency) per share.
Oakmark acquired a 2,402,000-share stake in Kansai Paint Co. Ltd. (TSE:4613, Financial), an Osaka, Japan-based chemicals company, for an average price of ¥1908.26 (approximately $15.49 in U.S. dollars) per share. The acquisition had a 1.21% impact on Oakmark’s portfolio.
Kansai Paint has a market cap of $527.15 billion and an enterprise value of $509.05 billion. It has a P/E of 23.9, a P/B of 2.0 and a P/S of 1.5. GuruFocus has given Kansai Paint a Financial Strength rating of 9/10 and a Profitability and Growth rating of 7/10.
Kansai Paint sold for ¥1979 (about $16.11 in American money) per share Friday.
Oakmark added to its existing stake in ALS Ltd. (ASX:ALQ, Financial), an Australian-based testing, inspection and certification provider operating under the banner of Campbell Brothers (ASX:CPB), a soap and chemicals company that went into analytical lab services with its acquisition of ALS in the 1980s.
Oakmark raised its stake in ALS by nearly 3,400%, acquiring 10,139,000 shares for an average price of AUD 5.19 (approximately $3.75 in U.S. dollars) per share. The transaction had a 1.21% impact on Oakmark’s portfolio.
ALS has a market cap of $2.06 billion and an enterprise value of $2.83 billion. It has a forward P/E of 16.4, a P/B of 1.7 and a P/S of 1.4. GuruFocus has given ALS a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10.
Friday ALS sold for AUD 5.06 (roughly $3.66 in American currency) per share.
Oakmark more than doubled its stake in Applus Services SA (XMCE:APPS, Financial), a Spanish testing, inspection, certification and technological company, with the purchase of 2,739,000 shares for an average price of €9.46 (about $10.07 in U.S. money) per share. The deal had a 0.96% impact on Oakmark’s portfolio.
Applus Services has a market cap of $1.07 billion and an enterprise value of $1.82 billion. It has a forward P/E of 11, a P/B of 1.7 and a P/S of 1.7. GuruFocus has given Applus Services a Financial Strength rating of 4/10 and a Profitability and Growth rating of 2/10.
Applus Services sold for €8.21 (approximately $8.74 in American dollars) per share Friday.
Oakmark reduced its existing stake in Davide Campari-Milano SpA (MIL:CPR), a Milan-based beverage company, by more than 40%, selling 3,947,000 shares for an average price of €7.01 (roughly $7.46 in U.S. currency) per share. The transaction had a -1.02% impact on Oakmark’s portfolio.
Davide Campari-Milano has a market cap of $4.74 billion and an enterprise value of $4.74 billion. It has a P/E of 31.7, a forward P/E of 23.9, a P/B of 2.9 and P/S of 2.9. GuruFocus has given David Campari-Milano a Financial Strength rating of 6/10 and a Profitability and Growth rating of 8/10.
MS Global Franchise Fund (Trades, Portfolio) also owns shares of David Campari-Milano.
Friday Davide Campari-Milano sold for €8.27 (about $8.80 in American money) per share.
Oakmark reduced its stake in Sulzer AG (XSWX:SUN), a Swiss industrial engineering and manufacturing company, by nearly one-third, selling 289,000 shares for an average price of CHF98.23 (approximately $96.38 in U.S. currency) per share.
Sulzer has a market cap of $3.54 billion and an enterprise value of $2.95 billion. It has a P/E of 12.9, a forward P/E of 29.7, a P/B of 1.6 and a P/S of 1.1. GuruFocus has given Sulzer a Financial Strength rating of 4/10 and a Profitability and Growth rating of 5/10.
Sulzer sold for CHF104 (roughly $102.04 in American dollars) per share Friday.
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