David Dreman (Trades, Portfolio), founder, CIO and chairman of Dreman Value Management LLC, made two dozen new buys in the fourth quarter, but most were comparatively small. Only three exceeded 13,000 shares or had an impact greater than 0.07% on his portfolio.
That isn’t unusual for Dreman. He made three significant acquisitions (by volume) out of more than 80 new buys in the third quarter as well. The smaller purchases were larger than the smaller ones in the fourth quarter, but they were still comparatively small.
Dreman’s most noteworthy new fourth-quarter buy was a 561,770-share stake in Aircastle Ltd. (AYR, Financial), a Stamford, Connecticut-based commercial aircraft sales and leasing company, for an average price of $21.09 per share. The transaction had a 3.55% impact on Dreman’s portfolio.
Dreman’s stake is 0.69% of Aircastle’s outstanding shares and 3.55% of his total assets. Aircastle’s leading shareholder among the gurus is Diamond Hill Capital (Trades, Portfolio) with a stake of 2,358,600 shares. Diamond Hill’s stake is 2.91% of Aircastle’s outstanding shares and 0.33% of the guru’s total assets.
Aircastle has a P/E of 9.7, a forward P/E of 6.7, a P/B of 0.8 and a P/S of 1.6. GuruFocus gives Aircastle a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Aircastle sold for $17.37 per share Friday.
Dreman invested in a 37,843-share stake in Aflac Inc. (AFL, Financial), a Columbus, Georgia-based financial services company, for an average price of $62.33 per share. The deal had a 0.69% impact on Dreman’s portfolio.
Dreman’s stake is 0.01% of Aflac’s outstanding shares and 0.69% of Dreman’s total assets. Aflac’s leading shareholder among the gurus is Bill Nygren (Trades, Portfolio) with a stake of 5,670,000 shares. Nygren’s stake is 1.33% of Aflac’s outstanding shares and 2.09% of the guru’s total assets.
Aflac has a P/E of 10.1, a forward P/E of 8.2, a P/B of 1.4 and a P/S of 1.2. GuruFocus gives Aflac a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
Aflac sold for $57.31 per share Friday.
Dreman purchased a 128,492-share stake in Bloomin Brands Inc. (BLMN, Financial), a Tampa, Florida-based owner of several casual dining chains, for an average price of $17.34 per share. The transaction had a 0.66% impact on Dreman’s portfolio.
Dreman’s stake is 0.11% of Bloomin Brands’ outstanding shares and 0.66% of Dreman’s total assets. Bloomin Brands’ leading shareholder among the gurus is Steven Cohen (Trades, Portfolio) with a 1,689,300-share stake. Cohen’s stake is 1.41% of Bloomin Brands’ outstanding shares and 0.24% of the guru’s total assets.
Bloomin Brands has a P/E of 16.1, a forward P/E of 11.3, a P/B of 4.8 and a P/S of 0.5. GuruFocus gives Bloomin Brands a Financial Strength rating of 4/10 and a Profitability and Growth rating of 5/10.
Bloomin Brands sold for $16.68 per share Friday.
Among the other companies in which Dreman acquired new stakes were Skyworks Solutions Inc. (SWKS, Financial), Bluerock Residential Growth REIT Inc. (BRG, Financial), Range Resources Corp. (RRC, Financial), Bank of Nova Scotia (BNS, Financial) and China Eastern Airlines Corp. Ltd. (CEA, Financial).
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