John Keeley

John Keeley

Last Update: 2014-05-15

Number of Stocks: 412
Number of New Stocks: 36

Total Value: $5,807 Mil
Q/Q Turnover: 11%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

John Keeley' s Profile & Performance

Profile

John Keeley is President and Portfolio Manager/Analyst at Keeley Asset Management Corp., a registered investment advisor that he established in 1982.

Web Page:http://www.keeleyfunds.com

Investing Philosophy

John Keeley seeks capital appreciation through long-term value investing in small-cap stocks. He emphasizes the purchase of companies undergoing corporate redevelopment such as spin-offs, companies emerging from bankruptcy, securities trading below actual or perceived book-value, savings & loan and insurance conversions, and distressed utilities.

Total Holding History

Performance of Small Cap Value Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
201334.6331.553.1
201223.8115.48.4
2011-7.292.08-9.4
3-Year Cumulative54.5 (15.6%/year)55 (15.7%/year)-0.5 (-0.1%/year)
201025.9815.0610.9
200921.6726.46-4.8
5-Year Cumulative136.9 (18.8%/year)125.5 (17.7%/year)11.4 (1.1%/year)
2008-40.18-37-3.2
20077.175.611.6
200619.5515.793.8
200516.124.9111.2
200432.941220.9
10-Year Cumulative180.2 (10.9%/year)104.1 (7.4%/year)76.1 (3.5%/year)
200318.6528.7-10.1
20022.72-22.124.8
200115.12-11.927.0
20006.61-9.115.7
19993.3221-17.7
15-Year Cumulative333.1 (10.3%/year)98.3 (4.7%/year)234.8 (5.6%/year)
199812.9928.6-15.6
19970.5233.4-32.9
19969.4223-13.6
19950.9437.6-36.7
1994-7.021.3-8.3
20-Year Cumulative405.2 (8.4%/year)483.2 (9.2%/year)-78 (-0.8%/year)

Top Ranked Articles

National Presto Industries - A Quality Company with an 8% Dividend Yield
Let’s start this article with a one-question quiz. GuruFocus and its investment community impress me every day with their investment acumen, so I have confidence in your abilities. Good luck! Read more...
Guru Stocks Raising Dividends: CTS, UBA, UDR, WDR, CHCO
This is the group of companies who raised their dividend during the week: CTS Corp., Urstadt Biddle Properties Inc. Cl A, UDR, Waddell & Reed Financial Inc., and City Holding Company. Read more...
Insider Buys at 52-Week Highs
Several companies have reported group insider buying or pricey singular insider buying as their companies near or hit their 52-week highs. The following three companies have reported these insider buys throughout the month of July. Watching group insider buying (especially at high prices) is important because it can signify a collective faith in the stability and potential for additional growth in a company. It can also be beneficial to note insider buys with large transaction amounts because insiders typically will not invest their money into a company if they know they are going to lose it. [b] Read more...
John Keeley Buys Kaiser Aluminum Corporation, Century Aluminum Co., Investment Technology Group In, Sells U-store-it Trust, Mcmoran Exploration Co., Lincoln Electric Holdings Inc.
Updates for John Keeley buys and sells during the first quarter. John Keeley is known as "Spin-off Doctor", he likes to buy spin-offs that others don't want. His most recent spin-off play: MUELLER WATER. If you like to buy unservalued small cap stocks, take a look at what John Keeley is buying. Read more...
John Keeley Buys NBTY Inc., NCR Corp., CIT Group Inc., The First American Corp., Sells ABB Ltd., Corning Inc., Exelon Corp. John Keeley Q1 Portfolio Update: Buys AAN, ADTN, ART, BP, C, CASY, CIT, CLF
John Keeley has been very successful with small cap investing. He also likes companies undergoing corporate redevelopment such as spin-offs, companies emerging from bankruptcy. This the Q1 update of his portfolio. Read more...
» More John Keeley Articles

Commentaries and Stories

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Alcoa Has Doubled in 12 Months!
In this article, let's take a look at Alcoa Inc. (AA), a $20 billion market cap, which is one of the world's largest producers of primary aluminum as well as one of the world's largest suppliers of alumina, an intermediate raw material used to make aluminum products for a variety of end-markets. More...

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George Soros Reveals His Largest Stake
Hedge funds filled their form 13-F, which is a quarterly report of equity holdings by filed institutional investment managers with at least $100 million in equity assets under management, as required by the United States Securities and Exchange Commission (SEC). In this article, let´s concentrate in one particular hedge fund and try to see the principal holdings in its portfolio. I will look into Soros Fund Management LLC.The fund reported its equity portfolio, as at the end of March. The total value of the portfolio amounted to $9.3 billion, up from $8.8 billion disclosed at the end of the previous quarter. Consequently, the fund's total return was 6.4% in the last quarter. The filing revealed that at the end of June, the fund added 150 new positions to its equity portfolio and sold out 65 positions. The top ten portfolio holdings as of the end of the quarter represented 25.62%. The largest changes from previous 13-F´s fillings are in the health care and financial sectors.In this article, let´s see Teva Pharmaceutical Industries Limited (TEVA) in which the fund holds the largest stake in terms of market value. The fund disclosed a $544.8 million stake with over 10.31 million shares.Drivers of ProfitabilityA $2 billion cost-saving plan as well as the company’s remaining $4 billion branded drug portfolio will continue to support the firm's profitability.Further, Teva focuses on innovation; it has numerous innovative drug products in development. Although we know it is very difficult to develop another key product such as Copaxone, maybe these new innovative drugs can lower the huge dependence on it. Copaxone has become the world's leading MS treatment and contributes nearly to half the operating profit.Growth OpportunitiesThe company is the largest pharmaceutical manufacturer with vertically integrated operations. In emerging markets, it has the scale and resources to help minimize the threat of low-cost producers. It has access and complex manufacturing capabilities, including respiratory and biosimilar drugs, that should help maintain the long-term growth opportunities on those markets. Talking about growing opportunities, the joint venture with Procter & Gamble (PG) in branded over-the-counter drugs also creates a space for growth.Acquisition of LabrysA few days ago, Teva announced the acquisition of Labrys which brings to Teva LBR-101, a fully humanized monoclonal antibody that binds to calcitonin gene-related peptide, which is currently in Phase IIb clinical trials for prevention of chronic and episodic migraine.Cash to InvestorsA company characteristic is that demonstrate its commitment to return cash to investor in the form of dividends. The Board of Directors, at its meeting on April 29, 2014, declared a cash dividend for the first quarter of 2014 of NIS 1.21 per share (approximately 30 cents according to the actual rate of exchange). The current dividend yield is 2.1%, which is considered good to protect the purchasing power.Return on EquityNow, let´s compare the best measure of performance for a firm's management: the return on equity. The ROE is useful for comparing the profitability of a company to that of other firms in the same industry. Ticker Company ROE (%) TEVA Teva Pharmaceutical 5.62 ACT Actavis PLC -7.87 SNYNF Sanofi 6.53 AGN Allergan Inc. 15.24   Industry Mean 7 The company has a current ratio of 5.62% which is higher than the one exhibit by Actavis PLC (ACT), but below the Sanofi´s ROE and industry mean. In general, analysts consider ROE ratios in the 15-20% range as representing attractive levels for investment, so the ROE of Allergan Inc. (AGN) looks very attractive. It is very important to understand this metric before investing and it is important to look at the trend in ROE over time.Relative ValuationIn terms of valuation, the stock sells at a trailing P/E of 33.7x, trading at a discount compared to an average of 40.5x for the industry. To use another metric, its price-to-book ratio of 2x indicates a discount versus the industry average of 3.2x while the price-to-sales ratio of 2.3x is below the industry average of 3.57x. These metrics indicate that the stock is relatively undervalued and seems to be an attractive investment relative to its peers.As we can see in the next chart, the stock price has an interesting upward trend in the five-year period. The share price is more than 30 percent higher year to date, though it is up only marginally from a month ago.Final CommentAs outlined in this article, Teva should benefit from the $2 billion cost-savings plan, its plan to expansion into key emerging markets and the development of innovative products as well as strategic acquisitions.For these reasons, I would advise fundamental investors should consider adding this stock to their long-term portfolios.Other hedge fund gurus have also been active in the company. Paul Tudor Jones (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), John Keeley (Trades, Portfolio) and Ken Heebner (Trades, Portfolio) have bought the stock in the first quarter of 2014.Disclosure: Omar Venerio holds no position in any stocks or funds mentioned. More...

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Top Insider Buys Highlight: Macquarie Infrastructure
CEO of Macquarie Infrastructure Co LLC (MIC) James Hooke bought 2,830 shares on July 17 at an average price of $66.5 per share. The total transaction amount was $188,195. More...

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5-year lows: ARMOUR Residential REIT, EXCO Resources, Fifth Street Finance, and Atlas Resource Partners
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: ARMOUR Residential REIT Inc, EXCO Resources Inc, Fifth Street Finance Corp, and Atlas Resource Partners LP. More...

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Weekly 3-Year Low Highlights: KN, MGNX, MIXT, EDMC
According to GuruFocus list of three-year lows, Knowles Corporation, Macrogenics Inc., MiX Telematics Ltd. and Education Management Corp have all reached their three-year lows. More...

WEEKLY, 3, YEAR, LOW, HIGHLIGHT


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KEELEY Alternative Value Fund First Quarter 2014 Commentary
n the rst calendar quarter of 2014, the KEELEY Alternative Value Fund (KALVX) fell 2.61 percent compared to a 3.52 percent rise for the Russell 2500 Value Index and a 1.81 percent increase for the S&P 500 Index. After a strong year for equities in 2013, a more challenging environment welcomed the markets in 2014. Although the broad equity markets ended the quarter with minimal gains, that performance was masked by a quarter that experienced a great deal of volatility. Geopolitical concerns, specically regarding the Russian invasion of Crimea, added complexity to markets that were already beginning to experience some level of fatigue after two consecutive years of exceptional equity returns. Macroeconomic data painted a mixed fundamental picture. Investors attributed much of the decline in growth expectations here in the U.S. to unusually poor weather conditions. Although severe weather most likely had a negative inuence, it is uncertain as to what the full impact will be, especially with respect to corporate earnings. In the most recent quarter, companies continued to show earnings growth, but many also projected slower future gains and valuations continue to be elevated. News More...

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Pioneer Investments Keeps on Rolling
How many times have we seen the same movie? The good or bad guy, chased by the law, going south. And when saying south, we mean Mexico. It seems to be the paradise for all U.S. citizens looking for some tranquility. What has never been seen though, is the escapee travelling on the Kansas City Southern (KSU). The train operator is commonly known as the NAFTA Railway, since it offers services across North America through a key partnership with Canadian National Railway (CN). In addition, the company owns former Grupo Transportación Ferroviaria Mexicana, today Kansas City Southern of Mexico. Hence, services today connect Canada and Mexico through the Midwest and Mississippi River basin, making the firm a true regional railroad operator. Most important, overall performance continues to catch the market’s attention, and there are clear evidences of gurus making long-term investments. More...

TRANSPORT, RAILROAD, NORTH AMERICA, USA


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Torchmark: More of the Same for Higher Profits?
Torchmark Corporation (TMK)’s sustainable business model hit a bump in the road last year, when its health care subsidiary Liberty National Life reported a high agent turnover, causing a drop in sales. However, in an effort to improve agent retention, management reacted quickly, introducing new training, recruiting and sales processes, in addition to adding new managerial positions, so as to produce more qualified agents. Although it will take time until the situation is reversed, the company’s strategy has already shown results, increasing its agent count by 8% during fourth quarter fiscal 2013, and thereby boosting health sales by 2%. Furthermore, while life sales declined by 5%, a consequence of a 3% decline in agent count at the American Income Agency, the firm’s direct response channel was successful in offsetting these results, generating an 8% increase year over year in new sales. More...

HEALTH CARE,INSURANCE,LIFE INSURANCE,HEALTH INSURANCE,MEDICARE,


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What´s Behind Iron Mountain's Earnings Growth
Iron Mountain (IRM) stores records, primarily paper documents and data backup media, and provides information management services. The company’s information management services are divided into three main service categories: records management services, data protection and recovery services; and information destruction services. The company provides its services to commercial, legal, banking, health care, accounting, insurance, entertainment and government organizations. More...

LONG, STORAGE, BACKUP, INFORMATION MANAGEMENT


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5-Year Lows: Ruckus Wireless Inc., Alpha Natural Resources Inc., Aviv REIT Inc. and Ply Gem Holdings Inc.
According to GuruFocus list of 5-year lows, these Guru stocks have reached their five-year lows: Ruckus Wireless Inc., Alpha Natural Resources Inc., Aviv REIT Inc. and Ply Gem Holdings Inc. More...

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A Stock Recommended by Analysts, Not Bought by Gurus
Sometimes a series of conditions coincide to give prospect investors the opportunity to collect rewards. For example, finding a market leading firm with stock selling at a discount and high earnings per share does not occur daily. The situation is all the more particular when analysts at financial institutions give the stock a positive review and expansion plans continue to be announced by management. Today, all that points straight at Kinder Morgan Partners (KMP). The largest independent owner and operator of petroleum product pipelines in the U.S. has however, not seen much transactions by gurus since the third quarter of 2013. So, why have gurus not bought into this stock when analysts continue to recommend it? More...

ENERGY, GAS, MIDSTREAM


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Five-Year Lows: LinnCo LLC, Suburban Propane Partners LP, Fresh Market Inc. and Molycorp Inc.
According to GuruFocus list of 5-year lows, these Guru stocks have reached their 5-year lows: LinnCo LLC, Suburban Propane Partners LP, Fresh Market Inc, and Molycorp Inc. More...

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A Bourbon King with an Interesting Future
As the U.S. spirits category steadily gains share of the average American’s yearly alcohol consumption, the largest spirit manufacturers continue to grow. Although some brands in the market enjoy particular financial health, such as Diageo Plc (ADR) (DEO) ($80 billion market cap) and Brown-Forman Corporation (BF.B) ($19 billion market cap), in the article below I focus on a somewhat smaller, but not less profitable company. The talk is of Beam Inc. (BEAM), which is set to be acquired by the Japanese firm Suntory by the end of 2014’s second quarter. More...

SPIRITS,ALCOHOLIC BEVERAGES,SUNTORY,BOURBON,LIQUOR


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Keeley Alternative Value Fund Fourth Quarter Commentary
Fourth Quarter, 2013 Commentary In the fourth calendar quarter of 2013, the KEELEY Alternative Value Fund (KALVX) increased 5.72 percent compared to a 8.83 percent rise for th e Russell 2500 Value Index and a 10.51 percent incline for the S&P 500 Index. For the full year ending December 31, 2013, the Keeley Alternative Value Fund rose 21.47 percent co mpared to a 33.32 percent rise in the Russell 2500 Value Index, and a 32.39 percent rise in the S&P 500 Index. The fourth quarter capped off a remarkable year for equities in 2013. After strong results in 2012 and a number of concerning political and economic issues, the fo urth quarter completed an impressive climb in 2013 that seemed to surprise many investors. U.S. equities have more than doubled since the lows set in 2009 and the S&P 500 Index pr oduced its best return in 2013 in nearly fteen years. Small-cap stocks were even better, se tting record highs in 2013 as higher-beta stocks outperformed for much of the year. The long- side of the portfolio generated solid absolute and relative returns for the quarter and f or the year, outpacing the Russell 2500 Value Index over both time periods. However, Broadm ark was partially More...

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John Keeley Comments on NCR Corporation
NCR Corporation (NCR) was the Fund's largest detrac tor during the fourth quarter, falling over 14 percent and detracting 25 basis points of return . The nancial technology company delivered a slightly weaker than expected quarter t hat surprised us as well as the Street. They reafrmed guidance which implies a strong fourth qu arter and suggested that cash ows will continue to be cautiously managed. Since we like th e business and valuation, as well as the improved balance sheet, we are inclined to stay the course. More...

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John Keeley Comments on Bancorp South
Bancorp South (BXS) was another position that made a positive contribution during the quarter and for the year. In 2013, the regional ban k climbed over 61 percent and added 91 basis points of return to the portfolio. The compan y produced a very solid quarterly earnings report and remains a core restructuring holding fea turing a new CEO, Dan Rollins, who comes from a successfully run bank in Texas, Prospe rity Bank. We believe there are consider- able operating costs that can be taken out of the b ank over a multi-year period so we remain very positive on the stock and believe it should pr oduce earnings upside over the next few years. More...

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John Keeley Comments on Fiesta Restaurant Group
Fiesta Restaurant Group (FRGI) was the Fund's best performing position in the fourth quarter and for all of 2013. Over the past year the stock g ained over 240 percent and added 212 basis points of return. The fast-food chain has con tinued to restructure after spinning off Burger King restaurants and is now successfully ach ieving organic growth. We continue to believe the stock is undervalued and expect further growth ahead. More...

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Keeley All Cap Value Fund Fourth Quarter 2013 Commentary
In the fourth calendar quarter of 2013, the KEELEY All Cap Value Fund (KACVX) increased 9.39 percent compared to a 9.95 percent increase fo r the Russell 3000 Value Index. For the full year ending December 31, 2013, the Fund rose 3 5.90 percent compared to a 32.69 percent rise in the Russell 3000 Value Index. The f ourth quarter capped off a remarkable year for equities in 2013. After strong results in 2012 and a number of concerning political and economic issues, the fourth quarter completed an im pressive climb in 2013 that took many investors by surprise. U.S. equities have more than doubled since the lows set in 2009 and the S&P 500 Index produced its best return in 2013 in nearly fteen years. Small-cap stocks were even better, setting record highs in 2013 as h igher-beta stocks outperformed for much of the year. During the fourth quarter the Fund sli ghtly trailed the Russell 3000 Value Index, but outpaced the index during 2013. Overall, the past y ear the portfolio beneted from both positive stock selection and good sector allocation . The Fund's overweight position in the strong performing consumer discretionary sector ben eted returns, but stock selection in the sector More...

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John Keeley Comments on Chicago Bridge
Looking farther out, Chicago Bridge (CBI) continues to see very good activity in helping the energy sector build out terminals to export product. They are a leader in building liquified natural gas terminals and will play a large role in helping get North American gas to a hungry world market. Although our current weight in energy is modest relative to our respective indexes in each portfolio, we believe this is an exciting time to be involved in the sector. We want to make sure our shareholders have exposure to some of the companies that can benefit most from this transformational shift, and our holdings in this sector have made a strong contribution to our results in 2013. More...

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John Keeley's Keeley Funds Annual Letter to Shareholders 2013
Dear Fellow Shareholder, More...

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