Investment firm Kahn Brothers (Trades, Portfolio) Group made four substantial increases to positions they held in the third quarter, a recent filing showed.
Founding Kahn Brothers (Trades, Portfolio) chairman Irving Kahn started investing in before the Great Depression and worked directly with Benjamin Graham, the progenitor of value investing, in the 1930s. The firm adheres to a semi-Grahamian contrarian philosophy that prizes margin of safety and long-term capital appreciation.
Kahn Brothers (Trades, Portfolio)’ portfolio bears 34 positions with an aggregate value of $655 million. The leading represented sector is financial services, which populates 29.8% of holdings, followed by health care at 23%.
With no official new stocks purchased in the third quarter, the firm managers’ largest adds to existing portfolio holdings were: AT&T Inc. (AT&T), VOXX International Corp. (VOXX, Financial), Patterson-UTI Energy Inc. (PTEN, Financial) and Assured Guaranty Ltd. (AGO, Financial).
Kahn Brothers (Trades, Portfolio) increased their AT&T position 112.9% with their purchase of 5,582 shares in the third quarter. By the end of the quarter, they owned 10,526 shares of AT&T. The company’s stock price averaged $38 per share for the quarter.
AT&T Inc. has a market cap of $203.05 billion; its shares were traded around $33.07 with a P/E ratio of 15.88 and P/S ratio of 1.24. The trailing 12-month dividend yield of AT&T Inc. stocks is 5.92%. The forward dividend yield of AT&T Inc. stocks is 5.96%. AT&T Inc. had an annual average earnings growth of 2.10% over the past 10 years.
VOXX International Corp. (VOXX, Financial)
By purchasing 34,407 shares, Kahn Brothers (Trades, Portfolio) increased their position in the company by 58.2%. The final count totaled 3,651,902 shares at quarter end. The third quarter saw the stock’s price average almost $8.
Voxx International Corp has a market cap of $153.09 million; its shares were traded around $6.33 with a P/E ratio of 7.84 and P/S ratio of 0.25.
Patterson-UTI Energy Inc. (PTEN, Financial)
Kahn Brothers (Trades, Portfolio)’ position ballooned 39.4% by quarter-end when they purchased 363,985 shares, bringing their total to 1,286,891 shares. The stock’s average price totaled $18 for the quarter.
Patterson-UTI Energy Inc. has a market cap of $4.63 billion; its shares were traded around $20.80 with and P/S ratio of 2.64. The trailing 12-month dividend yield of Patterson-UTI Energy Inc. stocks is 0.38%. The forward dividend yield of Patterson-UTI Energy Inc. stocks is 0.38%.
Assured Guaranty Ltd. (AGO, Financial)
Kahn Brothers (Trades, Portfolio)’ purchase of 124,130 shares increased the position by 15.98%, bringing their stake to 900,835 shares. The stock’s third-quarter price averaged $43.
Assured Guaranty Ltd. has a market cap of $4.31 billion; its shares were traded around $36.22 with a P/E ratio of 4.11 and P/S ratio of 2.48. The trailing 12-month dividend yield of Assured Guaranty Ltd. stocks is 1.54%. The forward dividend yield of Assured Guaranty Ltd. stocks is 1.56%. Assured Guaranty Ltd. had an annual average earnings growth of 27.30% over the past five years.
See Kahn Brothers (Trades, Portfolio)’ portfolio here.
