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David Goodloe
David Goodloe
Articles (769) 

Gabelli Raises Stakes in Three Companies in First Two Weeks of New Year

January 20, 2015 | About:

In the first two weeks of the new year, guru Mario Gabelli (Trades, Portfolio) has added to his stakes in three companies – Chemtura Corp (NYSE:CHMT), Volcano Corp (VOLC) and Chiquita Brands International Inc (CQB). No other gurus we follow have invested in those companies since the third quarter of 2014.

Gabelli is the founder, chairman and CEO of Gabelli Asset Management Company Investors.

Chemtura, a Philadelphia-based chemicals and manufacturing company, is marking its 10th year in business. Founded in 2005, Chemtura is the successor to Crompton & Knowles Corporation, which was incorporated in Massachusetts in 1900 and began manufacturing and selling specialty chemicals in 1954. Chemtura has operations in North America, Latin America, Europe and Asia and employs roughly 3,300 people to handle research, manufacturing, logistics, sales and administration.

Gabelli’s stake in Chemtura is 5,101,054 shares. Chemtura shares currently sell for $22.88.

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Based in San Diego, Volcano is involved in the design and manufacture of medical devices, particularly catheters. Volcano announced in December 2014 that Netherlands-based Royal Philips (NYSE:PHG) would be purchasing Volcano with the intention of expanding its leadership position in image-guided therapy.

Volcano has approximately 1,800 full- and part-time employees; it has gradually been reducing its workforce at its Rancho Cordova, California, facility with the intention of ceasing production there altogether by July.

Gabelli’s stake in Volcano is now 2,295,500 shares. Currently, Volcano shares sell for $17.95.

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Chiquita Brands, which is based in North Carolina, was founded in 1863; it has been distributing produce since 1870 when a ship captain purchased 160 bunches of bananas in Jamaica and sold them in New Jersey 11 days later, setting in motion the banana production industry. Chiquita has about 20,000 employees.

Gabelli’s stake in Chiquita is 2,435,057 shares. A share in Chiquita presently sells for $14.49.

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About the author:

David Goodloe
I'm a journalist by training. I grew up in Arkansas and earned my B.A. at the University of Arkansas. I earned my master's degree at the University of North Texas. My background includes stints at newspapers in Arkansas and Texas and teaching news writing and news editing to students at the University of Oklahoma and Richland College here in Dallas. I'm a writer/editor at GuruFocus.

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