Michael Price Buys More Than 3.5 Million Shares of Building Materials Company

Guru sells stake in United States Steel in 4th quarter

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Mar 03, 2016
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Michael Price (Trades, Portfolio), manager of MFP Investors, bought 25 new stakes in the fourth quarter. The largest was his purchase of a 3,578,527-share stake in BMC Stock Holdings Inc. (STCK, Financial), an Atlanta-based building materials and solutions provider for professional contractors.

The guru paid an average price of $16.9 per share in a deal that had a 7.39% impact on his portfolio.

Price’s stake is 5.47% of the company’s outstanding shares and 7.39% of his total assets. Price is BMC’s leading shareholder among the gurus.

BMC Stock Holdings has a P/E of 29.8, a P/B of 2.7 and a P/S of 0.3. GuruFocus gives BMC Stock Holdings a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.

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BMC Stock Holdings sold for $15.49 per share Thursday.

Price acquired a 2,920,577-share stake in Trinity Place Holdings Inc. (TPHS, Financial), a real estate development company based in New York, for an average price of $6.11 per share. The transaction had a 2.21% impact on Price’s portfolio.

Price’s stake is 11.57% of Trinity Place’s outstanding shares and 2.21% of Price’s total assets. Price is Trinity Place’s leading shareholder among the gurus.

Trinity Place has a P/S of 155. GuruFocus gives Trinity Place a Financial Strength rating of 6/10 and a Profitability and Growth rating of 3/10.

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Trinity Place sold for $6.28 per share Thursday.

Price purchased a 951,893-share stake in Atlantic Capital Bancshares Inc. (ACBI, Financial), an Atlanta-based provider of commercial banking products and services, for an average price of $14.56 per share. The deal had a 1.76% impact on Price’s portfolio.

Price’s stake is 3.91% of Atlantic Capital’s outstanding shares and 1.76% of Price’s total assets. Price is Atlantic Capital’s only shareholder among the gurus.

Atlantic Capital has a forward P/E of 16.2 and a P/B of 1.1.

Atlantic Capital sold for $12.60 per share Thursday.

Price bought a 217,500-share stake in Fossil Group Inc. (FOSL, Financial), a Richardson, Texas-based designer and manufacturer of watches, jewelry, sunglasses, wallets, handbags and belts, for an average price of $45.22 per share. The transaction had a 0.98% impact on Price’s portfolio.

Price’s stake is 0.45% of Fossil’s outstanding shares and 0.98% of Price’s total assets. Fossil’s leading shareholder among the gurus is Columbia Wanger (Trades, Portfolio) with a stake of 1,534,706 shares. The stake is 3.19% of Fossil’s outstanding shares and 0.56% of Columbia Wanger (Trades, Portfolio)’s total assets.

Fossil has a P/E of 8.4, a forward P/E of 14.1, a P/B of 2.6 and a P/S of 0.8. GuruFocus gives Fossil a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

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Fossil sold for $50.57 per share Thursday.

Price acquired a 634,129-share stake in Crimson Wine Group Ltd. (CWGL, Financial), a Napa, California-based owner and operator of vineyard land and wineries in California, Oregon and Washington, for an average price of $8.98 per share. The deal had a 0.69% impact on Price’s portfolio.

Price’s stake is 2.6% of Crimson Wine Group’s outstanding shares and 0.69% of the guru’s total assets. Price is the only guru with shares in Crimson Wine Group.

Crimson Wine Group has a P/E of 52.7, a P/B of 1 and a P/S of 3.4. GuruFocus gives Crimson Wine Group a Financial Strength rating of 5/10 and a Profitability and Growth rating of 5/10.

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Crimson Wine Group sold for $8.40 per share Thursday.

Price sold his 513,017-share stake in FMC Corp. (FMC, Financial), a chemical manufacturing company based in Philadelphia, for an average price of $39.62 per share. The divestiture had a -2.6% impact on Price’s portfolio.

FMC’s leading shareholder among the gurus is Larry Robbins (Trades, Portfolio) with a stake of 11,891,522 shares. The stake is 8.9% of FMC’s outstanding shares and 2.62% of Robbins’ total assets.

FMC has a P/E of 10.6, a forward P/E of 12, a P/B of 2.8 and a P/S of 1.6. GuruFocus gives FMC a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.

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FMC sold for $38.61 per share Thursday.

Price sold his 850,000-share stake in United States Steel Corp. (X, Financial), a Pittsburgh-based steel company, for an average price of $9.79 per share. The deal had a -1.32% impact on Price’s portfolio.

United States Steel’s leading shareholder among the gurus is Richard Snow (Trades, Portfolio) with a stake of 259,895 shares. The stake is 0.18% of the company’s outstanding shares and 0.08% of Snow’s total assets.

United States Steel has a forward P/E of 500, a P/B of 0.7 and a P/S of 0.1. GuruFocus gives United States Steel a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.

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United States Steel sold for $12.40 per share Thursday.

Price raised his stake in FMC Technologies Inc. (FTI, Financial), a Houston-based provider of oil and gas equipment services, by more than 234%. Price purchased 445,000 shares for an average price of $32.47 per share in a transaction that had a 1.85% impact on his portfolio.

Price’s stake, now 635,000 shares, is 0.28% of FMC Technologies’ outstanding shares and 2.64% of Price’s total assets. Frank Sands (Trades, Portfolio) is FMC Technologies’ leading shareholder among the gurus with a stake of 13,903,990 shares. The stake is 6.13% of FMC Technologies’ outstanding shares and 1.04% of Sands’ total assets.

FMC Technologies has a P/E of 15.6, a forward P/E of 21, a P/B of 2.4 and a P/S of 1. GuruFocus gives FMC Technologies a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.

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FMC Technologies sold for $26.43 per share Thursday.

Price boosted his stake in Plains All American Pipeline LP (PAA, Financial), a Houston-based oil pipeline company, by more than 3,677%. Price bought 407,500 shares for an average price of $26.76 per share. The deal had a 1.16% impact on Price’s portfolio.

Price’s stake in the company is now 418,581 shares, which is 0.11% of the company’s outstanding shares and 1.19% of Price’s total assets. Plains All American’s leading shareholder among the gurus is Jim Simons (Trades, Portfolio) with a stake of 984,314 shares. The stake is 0.25% of the company’s outstanding shares and 0.05% of Simons’ total assets.

Plains All American has a P/E of 18.8, a forward P/E of 10, a P/B of 1.1 and a P/S of 0.4. GuruFocus gives Plains All American a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.

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Plains All American sold for $22.50 per share Thursday.

Price hiked his stake in Allison Transmission Holdings Inc. (ALSN, Financial), a manufacturer of commercial duty automatic transmissions and hybrid propulsion systems based in Indianapolis, by 900%. Price acquired 225,000 shares for an average price of $27.34 per share. The transaction had a 0.72% impact on Price’s portfolio.

Price’s stake, now 250,000 shares, is 0.15% of Allison Transmission Holdings’ outstanding shares and 0.8% of Price’s total assets. Allison Transmission Holdings’ leading shareholder among the gurus is Jeff Ubben (Trades, Portfolio) with a stake of 19,125,204 shares. The stake is 11.18% of the company’s outstanding shares and 3.43% of Ubben’s total assets.

Allison Transmission Holdings has a P/E of 24.4, a forward P/E of 10.6, a P/B of 3.7 and a P/S of 2.2. GuruFocus gives Allison Transmission Holdings a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.

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Allison Transmission Holdings sold for $25.03 per share Thursday.

Price trimmed his stake in Baker Hughes Inc. (BHI, Financial), a Houston-based oilfield services company, by more than 81%. Price sold 87,500 shares for an average price of $51.16 per share. The deal had a -0.68% impact on Price’s portfolio.

Price’s remaining stake is 20,00 shares, which is 0.11% of his total assets. Baker Hughes’ leading shareholder among the gurus is Dodge & Cox with a stake of 33,970,635 shares. The stake is 7.76% of Baker Hughes’ outstanding shares and 1.54% of Dodge & Cox’s total assets.

Baker Hughes has a forward P/E of 82, a P/B of 1.2 and a P/S of 1.3. GuruFocus gives Baker Hughes a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.

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Baker Hughes sold for $46.51 per share Thursday.

Price reduced his stake in National Presto Industries Inc. (NPK), a small kitchen appliances company based in Eau Claire, Wisconsin, by more than 39%. Price sold 51,918 shares for an average price of $86.69 per share. The transaction had a -0.66% impact on Price’s portfolio.

Price’s remaining stake of 81,082 shares is 1.17% of the company’s outstanding shares and 0.83% of the guru’s total assets. Chuck Royce (Trades, Portfolio) is National Presto Industries’ leading shareholder among the gurus with a stake of 585,100 shares. The stake is 8.44% of the company’s outstanding shares and 0.29% of Royce’s total assets.

National Presto Industries has a P/E of 14.9, a P/B of 1.7 and a P/S of 1.3. GuruFocus gives National Presto Industries a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.

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National Presto Industries sold for $81.74 per share Thursday.

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