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David Goodloe
David Goodloe
Articles (769) 

John Rogers Exits Blount International in 1st Quarter

Guru trims holdings in JM Smucker and Newell Brands

The largest first-quarter transactions made by John Rogers (Trades, Portfolio), founder of Ariel Investment LLC, were not acquisitions but sales of stakes and portions of stakes in his portfolio. Here is a rundown of some of his largest deals.

Rogers sold his 7,536,792-share stake in Blount International Inc. (NYSE:BLT), a Portland, Oregon-based maker of replacement parts, equipment and accessories for chain saws and other outdoor products, for an average price of $9.59 per share. The divestiture had a -0.89% impact on Rogers’ portfolio.

Michael Price (Trades, Portfolio) is Blount International’s leading shareholder among the gurus with a stake of 1,015,800 shares. The stake is 2.11% of Blount International’s outstanding shares and 1.42% of Price’s total assets.

Blount International has a P/B of 4.4 and a P/S of 0.6. GuruFocus gives Blount International a Financial Strength rating of 4/10 and a Profitability and Growth rating of 6/10 with an ROE of -38.81% that is lower than 94% of the companies in the Global Tools & Accessories industry and an ROA of -6.58% that is lower than 87% of the companies in that industry.

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Blount International sold for $10 per share Friday. The DCF Calculator gives Blount International a fair value of $-11.13.

Rogers trimmed his stake in JM Smucker Co. (NYSE:SJM), an Orrville, Ohio-based maker of jellies and jams and other food products, by nearly 27%. Rogers sold 471,894 shares for an average price of $125.89 per share. The transaction had a -0.7% impact on Rogers’ portfolio.

The remaining stake of 1,301,810 shares is 1.09% of JM Smucker’s outstanding shares and 2.04% of Rogers’ total assets. Rogers is JM Smucker’s leading shareholder among the gurus.

JM Smucker has a PE of 25.0, a forward P/E of 21.8, a P/B of 2.5 and a P/S of 2.2. GuruFocus gives JM Smucker a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10 with an ROE of 9.60% and an ROA of 4.17% that are both lower than 53% of the companies in the Global Packaged Foods industry.

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JM Smucker sold for $144.24 per share Friday. The DCF Calculator gives JM Smucker a fair value of $71.5.

Rogers sold more than 76% of his stake in Newell Brands Inc. (NASDAQ:NWL), an Atlanta-based consumer goods company. The guru sold 1,016,627 shares for an average price of $39.19 per share. The deal had a -0.54% impact on Rogers’ portfolio.

The remaining stake of 307,974 shares is 0.11% of Newell Brands’ outstanding shares and 0.16% of Rogers’ total assets. Newell Brands’ leading shareholder among the gurus is Lee Ainslie (Trades, Portfolio) with a stake of 5,399,103 shares. The stake is 2.01% of Newell Brands’ outstanding shares and 3.78% of Ainslie’s total assets.

Newell Brands has a P/E of 38.4, a forward P/E of 16.6, a P/B of 7.3 and a P/S of 2.2. GuruFocus gives Newell Brands a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10 with an ROE of 18.99% that is higher than 83% of the companies in the Global Household & Personal Products industry and an ROA of 3.91% that is higher than 56% of the companies in that industry.

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Newell Brands sold for $47.95 per share Friday. The DCF Calculator gives Newell Brands a fair value of $9.52.

The guru sold his 2,704,268-share stake in Media General Inc. (NYSE:MEG), a broadcast and digital media company with offices in Richmond, Virginia, Providence, Rhode Island, and Austin, Texas, for an average price of $16.1 per share. The divestiture had a -0.52% impact on Rogers’ portfolio.

Media General’s leading shareholder among the gurus is Mario Gabelli (Trades, Portfolio) with a stake of 5,697,346 shares. The stake is 4.41% of Media General’s outstanding shares and 0.61% of Gabelli’s total assets.

Media General has a forward P/E of 22.1, a P/B of 1.6 and a P/S of 1.7. GuruFocus gives Media General a Financial Strength rating of 4/10 and a Profitability and Growth rating of 4/10 with an ROE of -4.01% that is lower than 74% of the companies in the Global Broadcasting – TV industry and an ROA of -1.30% that is lower than 70% of the companies in that industry.

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Media General sold for $17.62 per share Friday. The DCF Calculator gives Media General a fair value of $-4.82.

Rogers pared his stake in Philip Morris International Inc. (NYSE:PM), a tobacco company based in New York City, by nearly 59% with the sale of 476,127 shares for an average price of $91.51 per share. The transaction had a -0.5% impact on Rogers’ portfolio.

The remaining stake of 336,836 shares is 0.02% of Philip Morris’ outstanding shares and 0.4% of Rogers’ total assets. Barrow, Hanley, Mewhinney & Strauss is Philip Morris’ leading shareholder among the gurus with a stake of 20,914,105 shares. The stake is 1.35% of Philip Morris’ outstanding shares and 3.14% of the guru’s total assets.

Philip Morris has a P/E of 23.9, a forward P/E of 21.1 and a P/S of 5.9. GuruFocus gives Philip Morris a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10 with an ROA of 19.84% that is higher than 76% of the companies in the Global Tobacco industry.

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Philip Morris sold for $101.30 per share Friday. The DCF Calculator gives Philip Morris a fair value of $61.34.

Rogers sold his 316,232-share stake in Towers Watson & Co. (NASDAQ:TW), a professional services company based in Arlington, Virginia, for an average price of $125.73 per share. The divestiture had a -0.49% impact on Rogers’ portfolio.

Seven other gurus sold their stakes in Towers Watson in the first quarter. No gurus currently hold stakes in the company.

Towers Watson has a P/E of 20.1, a forward P/E of 13.4, a P/B of 2.9 and a P/S of 2.3. GuruFocus gives Towers Watson a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10 with an ROE of 14.27% that is higher than 68% of the companies in the Global Business Services industry and an ROA of 8.00% that is higher than 74% of the companies in that industry.

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Towers Watson sold for $123 per share Friday. The DCF Calculator gives Towers Watson a fair value of $94.48.

Rogers sold nearly one-fourth of his stake in Mattel Inc. (NASDAQ:MAT), a toy company based in El Segundo, California. The guru sold 1,443,895 shares for an average price of $30.26 per share. The deal had a -0.47% impact on Rogers’ portfolio.

The remaining stake of 4,419,470 shares is 1.3% of Mattel’s outstanding shares and 1.79% of Rogers’ total assets. Mattel’s leading shareholder among the gurus is T Rowe Price Equity Income Fund (Trades, Portfolio) with a stake of 7,900,063 shares. The stake is 2.32% of Mattel’s outstanding shares and 1.25% of the guru’s total assets.

Mattel has a P/E of 29.6, a forward P/E of 17.5, a P/B of 4.2 and a P/S of 1.9. GuruFocus gives Mattel a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10 with an ROE of 13.66% that is higher than 78% of the companies in the Global Leisure industry and an ROA of 5.66% that is higher than 71% of the companies in that industry.

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Mattel sold for $31.08 per share Friday. The DCF Calculator gives Mattel a fair value of $11.24.

Rogers trimmed his stake in International Speedway Corp. (NASDAQ:ISCA), a Daytona Beach, Florida-based owner and manager of NASCAR and IndyCar race tracks, by almost 21%. Rogers sold 1,096,978 shares for an average price of $34.01 per share. The transaction had a -0.44% impact on Rogers’ portfolio.

The remaining stake of 4,218,675 shares is 9.08% of International Speedway’s outstanding shares and 1.88% of Rogers’ total assets. Rogers is International Speedway’s leading shareholder among the gurus.

International Speedway has a P/E of 25.3, a forward P/E of 19.8, a P/B of 1.1 and a P/S of 2.4. GuruFocus gives International Speedway a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10 with an ROE of 4.47% that is lower than 52% of the companies in the Global Leisure industry and an ROA of 2.85% that is that is higher than 54% of the companies in that industry.

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International Speedway sold for $33.54 per share Friday. The DCF Calculator gives International Speedway a fair value of $14.23.

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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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