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Holly LaFon
Holly LaFon
Articles (10163)  | Author's Website |

Martin Whitman's Third Avenue Management Purchases 8 Stocks

Second-quarter portfolio

Martin Whitman (Trades, Portfolio)’s investment firm Third Avenue Management (Trades, Portfolio) bought eight new stocks in the second quarter.

They have a portfolio of 114 positions that together have a value of $2.45 billion. Half are companies in the real estate sector (27%) and financial services sector (22.3%). The firm is guided by a value-driven investment philosophy.

Third Avenue’s positions purchased during the second quarter were: Johnson Controls Inc. (NYSE:JCI), Amgen Inc. (NASDAQ:AMGN), LivaNova PLC (NASDAQ:LIVN), Shire PLC (NASDAQ:SHPG), NetScout Systems Inc. (NASDAQ:NTCT), G-III Apparel Group Ltd. (NASDAQ:GIII), Fiesta Restaurant Group Inc. (NASDAQ:FRGI) and NexPoint Residential Trust Inc. (NYSE:NXRT).

Johnson Controls Inc. (NYSE:JCI)

Third Avenue purchased 604,458 shares, a 1.19% portfolio weight. It had a second-quarter average share price of $42.

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Johnson Controls Inc. has a market cap of $28.12 billion; its shares were traded around $44.10 with a P/E ratio of 44.55 and P/S ratio of 0.80. The trailing 12-month dividend yield of Johnson Controls Inc. stocks is 2.64%. The forward dividend yield of Johnson Controls Inc. stocks is 2.59%. Johnson Controls Inc. had an annual average earnings growth of 5.3% over the past 10 years.

Amgen Inc. (NASDAQ:AMGN)

Third Avenue purchased 135,642 shares, a 0.92% portfolio weight. It had a second-quarter average share price of $155.

02May2017154424.png

Amgen Inc. has a market cap of $129.48 billion; its shares were traded around $173.02 with a P/E ratio of 17.72 and P/S ratio of 5.86. The trailing 12-month dividend yield of Amgen Inc. stocks is 2.08%. The forward dividend yield of Amgen Inc. stocks is 2.32%. Amgen Inc. had an annual average earnings growth of 11.8% over the past 10 years. GuruFocus rated Amgen Inc. the business predictability rank of 4.5-star.

LivaNova PLC (NASDAQ:LIVN)

Third Avenue purchased 267,977 shares, a 0.6% portfolio weight. It had a second-quarter average share price of $51.

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Livanova Plc has a market cap of $3.08 billion; its shares were traded around $62.81 with and P/S ratio of 3.22. Livanova Plc had an annual average earnings growth of 22.2% over the past five years.

Shire PLC (NASDAQ:SHPG)

Third Avenue purchased 47,840 shares, a 0.39% portfolio weight. It had a second-quarter share price average of $181.

02May2017154426.png

Shire PLC has a market cap of $58.3 billion; its shares were traded around $198.93 with a P/E ratio of 44.71 and P/S ratio of 6.86. The trailing 12-month dividend yield of Shire PLC stocks is 0.40%. The forward dividend yield of Shire PLC stocks is 0.40%. Shire PLC had an annual average earnings growth of 21.90% over the past five years.

NetScout Systems Inc. (NASDAQ:NTCT)

Third Avenue purchased 279,281 shares, a 0.27% portfolio weight. It had a second-quarter share price average of $23.

02May2017154427.png

Netscout Systems Inc. has a market cap of $2.58 billion; its shares were traded around $28.07 with and P/S ratio of 2.3. Netscout Systems Inc. had an annual average earnings growth of 23.4% over the past 10 years. GuruFocus rated Netscout Systems Inc. the business predictability rank of 2-star.

G-III Apparel Group Ltd. (NASDAQ:GIII)

Third Avenue purchased 89,353 shares of G-III Group Ltd., a 0.18% portfolio weight. It had a second-quarter share price average of $43.

02May2017154427.png

G-III Apparel Group Ltd. has a market cap of $1.95 billion; its shares were traded around $42.86 with a P/E ratio of 18.19 and P/S ratio of 0.86. G-III Apparel Group Ltd. had an annual average earnings growth of 24.4% over the past 10 years. GuruFocus rated G-III Apparel Group Ltd. the business predictability rank of 4.5-star.

Fiesta Restaurant Group Inc. (NASDAQ:FRGI)

Third Avenue purchased 114,409 shares, a 0.11% portfolio weight. It had a second-quarter share price average of $28.

02May2017154427.png

Fiesta Restaurant Group Inc. has a market cap of $614.06 million; its shares were traded around $22.81 with a P/E ratio of 16.02 and P/S ratio of 0.89. Fiesta Restaurant Group Inc. had an annual average earnings growth of 9.1% over the past five years.

NexPoint Residential Trust Inc. (NYSE:NXRT)

Third Avenue purchased 25,000 shares, a 0.02% portfolio weight. It had a second-quarter share price average of $15.

02May2017154428.png

Nexpoint Residential Trust Inc. has a market cap of $422.680 million; its shares were traded around $19.85 with and P/S ratio of 3.35. The trailing 12-month dividend yield of Nexpoint Residential Trust Inc. stocks is 4.15%. The forward dividend yield of Nexpoint Residential Trust Inc. stocks is 4.29%.

See Third Avenue's portfolio here. Start a free 7-day trial of Premium Membership to GuruFocus.

About the author:

Holly LaFon
I'm a financial journalist with a Master of Science in journalism from Medill at Northwestern University.

Visit Holly LaFon's Website


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