Chuck Royce (Trades, Portfolio), president, co-chief investment officer and portfolio manager of Royce & Associates LLC, reported adding to two stakes in his portfolio – Federal Signal Corp. (FSS, Financial) and Neenah Paper Inc. (NP, Financial) – and reducing a third – ScanSource (SCSC, Financial) – on Sept. 30.
Oak Brook, Ill.-based Federal Signal primarily designs and develops emergency lighting systems and warning sirens. Royce increased his stake in the company by more than 32%, acquiring 1,562,995 shares for $13.71 per share. The transaction had a 0.09% impact on Royce’s portfolio.
Federal Signal has a market cap of $886.34 million and an enterprise value of $898.64 million. It has a P/E of 12.4, a forward P/E of 12.0, a P/B of 2.3 and a P/S of 1.0. Royce is Federal Signal’s leading shareholder among the gurus; Mario Gabelli (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Robert Olstein (Trades, Portfolio), Jim Simons (Trades, Portfolio) and Paul Tudor Jones also have shares of Federal Signal in their portfolios.
Royce acquired 126,265 shares of Neenah Paper, a Georgia-based manufacturer of paper and paper products, for $58.28 per share. The deal had a 0.03% impact on Royce’s portfolio.
Neenah Paper has a market cap of $1 billion and an enterprise value of $1.14 billion. It has a P/E of 14.1, a P/B of 3.3 and a P/S of 1.2. Royce is Neenah Paper’s leading shareholder among the gurus; NWQ Managers (Trades, Portfolio), Jim Simons (Trades, Portfolio) and James Barrow (Trades, Portfolio) also have shares of Neenah Paper in their portfolios.
Neenah Paper recently expanded its product portfolio with its purchase of FiberMark, a developer of specialty coatings and finishes. The deal gives Neenah Paper access to numerous colors, textures, finishes and weights in premium papers, box wraps, folding boards and labels.
Royce sold nearly 36% of his stake in ScanSource, a Greenville, S.C.-based distributor of technology products, mostly for businesses. Royce sold 951,945 shares for $35.46 per share. The sale had a -0.14% impact on Royce’s portfolio.
ScanSource has a market cap of $1.01 billion and an enterprise value of $894.56 million. It has a P/E of 15.9, a forward P/E of 12.7, a P/B of 1.3 and a P/S of 0.3. Even with the sale, Royce remains ScanSource’s leading shareholder among the gurus; First Pacific Advisors (Trades, Portfolio), James Barrow (Trades, Portfolio), CI Can Am Small Cap (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) also have shares of ScanSource in their portfolios.
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