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Martin Whitman Reduces Masco and 2 Regional Banks

Largest sales of the 3rd quarter

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Oct 02, 2017
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Third Avenue Value Fund (TAVFX) was founded by Martin Whitman (Trades, Portfolio) in 1986. He manages a portfolio of $1.055 billion and the following are the largest sales of the third quarter:

The investor reduced his White Mountains Insurance Group Ltd. (WTM) position by 50.71% impacting the portfolio by -2.2%.

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The insurance company has a market cap of $3.72 billion and an enterprise value of $3.72 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity (ROE) of 2.94% and return on assets (ROA) of 1.61% are outperforming 65% of the companies in the Global Insurance - Property & Casualty industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 5.03 is above the industry median of 2.41.

The largest shareholder among the gurus is

Jim Simons (Trades, Portfolio) with 0.95% of outstanding shares followed by Third Avenue Management (Trades, Portfolio) with 0.76% and Chuck Royce (Trades, Portfolio) with 0.06%.

The guru also reduced his shares in Masco Corp. (MAS) by 35.23%. The transaction had an impact of -0.94% on the portfolio.

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The manufacturer of building materials has a market cap of $12.43 billion and an enterprise value of $14.72 billion.

The company has a GuruFocus profitability and growth rating of 7 out of 10. The ROA of 10.01% and return on capital (ROC) of 68.29% are outperforming 84% of the companies in the Global Building Materials industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.32 is below the industry median of 0.49.

Pioneer Investments (Trades, Portfolio) is the largest shareholder among the gurus with 2.47% of outstanding shares followed by Manning & Napier Advisors Inc. with 0.25%, Third Avenue Management with 0.24% and

Ron Baron (Trades, Portfolio) with 0.19%.

The Bank of New York Mellon Corp. (BK) stake was reduced by 12.83% impacting the portfolio by -0.86%.

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The bank manages assets for its customers and has a market cap of $54.78 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 9.04% is outperforming the sector, ROA of 1.06% is underperforming 65% of the companies in the Global Asset Management industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 3.09 is below the industry median of 9,999.0.

Warren Buffett (Trades, Portfolio) is the largest shareholder among the gurus with 4.86% of outstanding shares followed by Dodge & Cox with 4.3% and Chris Davis (Trades, Portfolio) with 1.93%.

The guru's holding of Cavco Industries Inc. (CVCO) was reduced by 18.10% with an impact of -0.76% on the portfolio.

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The residential homes builder has a market cap of $1.33 billion and enterprise value of $1.25 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 11.57% and ROA of 7.54% are outperforming 69% of the companies in the Global Residential Construction industry. Financial strength has a rating of 8 out of 10 with a cash-debt ratio of 2.42 that is above the industry median of 2.09.

The largest shareholder among the gurus is

Mario Gabelli (Trades, Portfolio) with 3.89% of outstanding shares followed by Third Avenue Management with 3.72%, Simons with 3.71% and Whitman with 3.45%.

The Comerica Inc. (CMA) stake reduced by 12.92%. The trade had an impact of -0.71% on the portfolio.

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The bank has a market cap of $13.41 billion and enterprise value of $13.38 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 9.11% and ROA of 0.99% are outperforming 54% of the companies in the Global Banks - Regional - US industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.99 is below the industry median of 2.05.

Third Avenue Management is the leading shareholder among the gurus with 0.55% of outstanding shares followed by

Richard Pzena (Trades, Portfolio) with 0.44%, First Pacific Advisors (Trades, Portfolio) with 0.1% and Gabelli with 0.05%.

The investor reduced his shares in PNC Financial Services Group Inc. (PNC) by 4.06% with an impact of -0.21% on the portfolio.

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The bank provides financial services in the U.S. and has a market cap of $64.58 billion and an enterprise value of $93.57 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the ROE of 8.49% is underperforming the sector, ROA of 1.13% is outperforming 67% of the companies in the Global Banks - Regional - US industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.49 is below the industry median of 2.05.

The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.48% of outstanding shares followed by

David Tepper (Trades, Portfolio) with 0.37%, Pioneer Investments with 0.36%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.36%, Diamond Hill Capital (Trades, Portfolio) with 0.33% and Charles Brandes (Trades, Portfolio) with 0.23%.

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

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