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Third Avenue Buys Kimco, Tidewater, Adds to Several Other Positions

The firm's 7 largest buys of the 3rd quarter

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Oct 27, 2017
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Founded by Martin Whitman (Trades, Portfolio), 

Third Avenue Management (Trades, Portfolio) manages a portfolio of 111 stocks. During the third quarter, the firm bought the following stocks:

The firm established a 1,080,300-share stake in Kimco Realty Corp. (

KIM, Financial), giving it 0.95%  portfolio space.

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The real estate investment trust (REIT) has a market cap of $7.62 billion and an enterprise value of $13.05 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity (ROE) of 6.95% and return on assets (ROA) 3.68% are underperforming 71% of companies in the Global REIT - Retail industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.06.

The largest shareholder among the gurus is Third Avenue with 0.25% of outstanding shares, followed by

John Buckingham (Trades, Portfolio) with 0.02%, Jim Simons (Trades, Portfolio) with 0.02% and Caxton Associates (Trades, Portfolio) with 0.02%.

The firm expanded its Macerich Co. (

MAC, Financial) position by 69.27%, impacting the portfolio 0.86%.

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The REIT has a market cap of $7.72 billion and an enterprise value of $12.92 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 3.58% and ROA of 1.49% are underperforming 74% of companies in the Global REIT – Retail industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.06.

With 0.6% of outstanding shares, Third Avenue is the company's largest guru shareholder, followed by

Mario Cibelli (Trades, Portfolio) with 0.12%, Manning & Napier Advisors Inc. with 0.05% and Michael Price (Trades, Portfolio) with 0.03%.

Third Avenue purchased 634,354 shares of Tidewater Inc. (

TDW, Financial), expanding the portfolio 0.83%.

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The offshore petroleum services company has a market cap of $511.61 million.

GuruFocus gives the company a profitability and growth rating of 2 out of 10. The ROE of -276.15% and ROA of -78.26% are underperforming 99% of companies in the Global Oil and Gas Equipment and Services industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 7.52 is above the industry median of 0.50.

Richard Snow (Trades, Portfolio) is the company's largest shareholder among the gurus with 5.42% of outstanding shares, followed by Third Avenue with 3.44% and Glenn Greenberg (Trades, Portfolio) with 0.11%.

Third Avenue increased its stake in Johnson Controls International PLC (

JCI, Financial) by 56.65%, impacting the portfolio by 0.78%.

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The manufacturer of HVAC systems has a market cap of $39.48 billion and an enterprise value of $54.17 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of -2.35% and ROA of -0.89% are underperforming 87% of companies in the Global Building Materials industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.49.

The company's largest guru shareholder is Dodge & Cox with 6.2% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 4.6%,

Chris Davis (Trades, Portfolio) with 1.48% and Hotchkis & Wiley with 0.97%.

The firm increased its Vornado Realty Trust (

VNO, Financial) holding by 8.03%, having an impact of 0.18% on the portfolio.

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The REIT has a market cap of $13.74 billion and an enterprise value of $24.68 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of 13.12% and ROA of 4.58% are outperforming 64% of companies in the Global REIT – Diversified industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.14 is above the industry median of 0.06.

Third Avenue is the company's largest shareholder among the gurus with 0.34% of outstanding shares, followed by Simons with 0.3%, Davis with 0.09% and

Paul Tudor Jones (Trades, Portfolio) with 0.02%.

The firm's Reliance Steel & Aluminum Co. (

RS, Financial) position was increased by 14.38%. The transaction had an impact of 0.16% on the portfolio.

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The steel company has a market cap of $5.66 billion and an enterprise value of $7.62 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 7.78% and ROA of 4.27% are outperforming 61% of companies in the Global Steel industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.42.

The company's largest guru shareholder is

Chuck Royce (Trades, Portfolio) with 1.43% of outstanding shares, followed by Simons with 0.51% and Whitman with 0.45%.

The firm added 94.53% to its AMN Healthcare Services Inc. (

AMN, Financial) position, impacting the portfolio by 0.15%.

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The medical staffing solutions company has a market cap of $2.03 billion and an enterprise value of $2.34 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 25.74% and ROA of 9.85% are outperforming 83% of companies in the Global Medical Care industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.37.

Royce is the company's largest guru shareholder with 2.24% of outstanding shares, followed by

Columbia Wanger (Trades, Portfolio) with 1.94% and Joel Greenblatt (Trades, Portfolio) with 0.81%.

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

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