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Tiziano Frateschi
Tiziano Frateschi
Articles (1261)  | Author's Website |

Holdings Charles Brandes Continues to Increase

Stocks he bought during the last 2 quarters

Charles Brandes (Trades, Portfolio) is the chairman of Brandes Investment Partners, the firm he started in 1974. In both the second and third quarters the guru bought shares in the following stocks:

VOXX International Corp. Class A (VOXX)

During the second quarter, the guru increased his position by 61.38% and again by 5.20% in the third quarter.

The guru holds 0.09% of outstanding shares in the company, which is a manufacturer and distributor in the Automotive, Premium Audio and Consumer Accessories industries. It manufactures, distributes and markets rear-seat entertainment devices, home theater systems and music systems among others. Net sales grew 3.3% from the same quarter of a year before, and gross margins increased of 29.2%.

The largest shareholder among the gurus is Kahn Brothers (Trades, Portfolio) with 7.15% of outstanding shares followed by Chuck Royce (Trades, Portfolio) with 5.49% and Jim Simons (Trades, Portfolio) with 0.51%.

QLT Inc. (QLTI)

During the second quarter, the investor increased his holding by 32.70% and raised it by 8.95% in the third quarter.

The guru holds 0.61% of outstanding shares in the company, which is a biotechnology company that conducts development and commercialization of ocular products that address the unmet medical needs of patients and clinicians. During the third quarter operating loss was $6.0 million, compared to $2.8 million for the same period a year before, and research and development expenditures were $2.9 million compared to $2.1 million for the same period in 2015.

Simons is another notable shareholder among the gurus with 0.15% of outstanding shares.

Houston Wire & Cable Co. (HWCC)

During the second quarter, the guru increased his position by 34.08% and in the third quarter by 9.32%.

The guru holds 1.38% of outstanding shares in the company which provides specialty wires and cable and related services to the U.S. electrical distribution market. During the last quarter gross margin was 18.5%, decreased 210 basis points from the third quarter of a year before, and interest expense was down 45.6% from $200,000 in the prior-year period.

The largest shareholder among the gurus is Royce with 9.03% of outstanding shares followed by David Nierenberg (Trades, Portfolio) with 5.91% and Simons with 0.41%.

Speedway Motorsports Inc. (TRK)

During the second quarter Brandes increased his holding by 35.34% and by 37.35% in the third quarter.

The guru holds 0.22% of outstanding shares in the company, which promotes and markets motorsports activities. It owns and operates facilities including Atlanta Motor Speedway, Bristol Motor Speedway and Charlotte Motor Speedway and offers event and nonevent souvenir merchandising and distribution service. Fourth-quarter total revenues were $170.7 million in 2015 compared to $144.1 million in the year before, and net income was 33 cents per diluted share in 2016 compared to 21 cents per diluted share in 2015.

The largest shareholder among the gurus is Mario Cibelli (Trades, Portfolio) with 0.71% of outstanding shares followed by Simons with 0.58%, Zeke Ashton (Trades, Portfolio) with 0.32%, Mario Gabelli (Trades, Portfolio) with 0.13% and Joel Greenblatt (Trades, Portfolio) with 0.03%.

Babcock & Wilcox Enterprises Inc. (BW)

During the second quarter, the investor almost doubled his position raising it by 92.59% and then in the third quarter confirmed it with an increase of 63.38%.

The guru holds 0.2% of outstanding shares in the company, which is engaged in the manufacturing of fossil and renewable power generation equipment. The company offers a broad suite of boiler products and environmental systems and services for power and industrial uses. Third-quarter revenue decreased 2.1% year over year, and GAAP earnings per share was 18 cents compared to earnings per share of 11 cents for the third quarter of 2015.

Mariko Gordon (Trades, Portfolio) is the largest shareholder among the gurus with 5.22% of outstanding shares followed by First Pacific Advisors (Trades, Portfolio) with 4.33%, FPA Capital Fund (Trades, Portfolio) with 3.29%, Simons with 0.18% and Paul Tudor Jones (Trades, Portfolio) with 0.07%.

National Western Life Group Inc. Class A (NWLI)

During the second quarter, the guru increased his holding by 63.06% and in the third quarter, increased it by 16.94%.

The guru holds 0.32% of outstanding shares in the company, which is a stock life insurance company. It offers a portfolio of individual whole life, universal life and term insurance plans, and annuities, including supplementary riders.

The largest shareholder among the gurus is Tweedy Browne (Trades, Portfolio) with 2.44% of outstanding shares followed by HOTCHKIS & WILEY with 0.37%, Royce with 0.16% and Simons with 0.13%.

Resources Connection Inc. (RECN)

During the second quarter the investor increased his stake by 45.15% and increased it by 29.18% in the third quarter.

The guru holds 0.48% of outstanding shares in the company, which is a multinational consulting firm and provides consulting and business initiative support services to its clients in the areas of accounting, finance, corporate governance, risk and compliance management. First-quarter revenue decreased 3.3% year over year, and net income declined to $5.6 million, or 15 cents per diluted share, compared to $7.1 million, or 19 cents per diluted share, in the same quarter of a year before.

The largest shareholder among the gurus is Royce with 6.17% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 0.94%, Simons with 0.92%, Ken Fisher (Trades, Portfolio) with 0.47%, Keeley Asset Management Corp (Trades, Portfolio) with 0.36% and Jones with 0.04%.

Invacare Corp. (IVC)

During the second quarter, the guru boosted his stake 754.26% and increased it by 51.04% in the third quarter.

The guru holds 4.43% of outstanding shares in the company, which designs, manufactures and distributes health care products including medical equipment for the nonacute care environment, including the home health care, retail and continuing care markets.

HOTCHKIS & WILEY is another large shareholder among the gurus with 4.43% of outstanding shares followed by Gordon with 3.96%, Royce with 2.69%, Simons with 0.99%, Barrow, Hanley, Mewhinney & Strauss with 0.83% and Arnold Schneider (Trades, Portfolio) with 0.45%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

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About the author:

Tiziano Frateschi
You can read about me on this blog: www.theextraincome.info

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