The largest insider buys this week were in TransDigm Group Inc. (TDG), Weyerhaeuser Co. (WY), Molson Coors Beverage Co. (TAP) and VICI Properties Inc. (VICI).

TransDigm Group director bought 133,310 shares

Director Robert J. Small bought 133,310 shares of TransDigm on Sept. 15 for an average price of $507.82. The stock has declined 0.46% since then.

TransDigm is an American manufacturing and aerospace company that focuses on developing, distributing and manufacturing commercial and military aerospace components. The company was ranked as 650 on the Fortune 1,000 list in 2019 by Forbes and is a component of the S&P 500.The company

First Eagle Investment manages a $31.82 billion equity portfolio composed of 98 stocks as of the quarter's end. The firm sold shares of the following stocks during the second quarter of 2020.

Omnicom

The fund closed its position in Omnicom Group Inc. (OMC). The trade had an impact of -0.74% on the portfolio.

The holding company has a market cap of $11.98 billion and an enterprise value of $16.04 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 37.3% and return on

First Eagle Investment (Trades, Portfolio) Management recently disclosed its portfolio updates for the second quarter of 2020, which ended on June 30.

The firm takes a long-term, flexible, absolute return-oriented investment approach that does not attempt to "beat the benchmark." Instead, it seeks to achieve attractive returns while providing downside protection. The firm's portfolio managers operate a variety of funds under the leadership of president and CEO Mehdi Mahmud and Chief Financial Officer Brian Margulies.

Based on its investing strategy, the firm's biggest buys for the quarter were Salesforce.com Inc. (CRM) and Fomento Economico Mexicano SAB de

Timberland company Weyerhaeuser (WY) is an example of what we believe to be a stock whose attractive long-term prospects have been swamped by short-term concerns. Lumber tends to see its best pricing when housing starts pick up, as they did in December and January before momentum was derailed by the coronavirus. While it may be difficult for the company to maintain its dividend in the current environment, we’re pleased the Fund owns the company’s long-duration assets—timberland harvest cycles run more than 25 years—at what we believe to be a discount.

From [url=https://www.gurufocus.com/StockBuy.php?GuruName=First+Eagle+Investment]First Eagle Investment[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=First+Eagle+Investment]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=First+Eagle+Investment]Portfolio[/url])'s Global Income

Timberland company Weyerhaeuser (WY) is what we consider an example of a stock whose attractive long-term prospects have been swamped by short-term concerns. Lumber tends to see its best pricing when housing starts pick up, as they did in December and January before momentum was derailed by the coronavirus. While it may be difficult for the company to main-tain its dividend in the current environment, we’re pleased that the Fund owns the company’s long-duration assets—timberland harvest cycles run more than 25 years—at what we believe to be a discount to our estimate of its intrinsic value.

From [url=https://www.gurufocus.com/StockBuy.php?GuruName=First+Eagle+Investment]First

Investment firm First Eagle Investment (Trades, Portfolio) sold shares of the following stocks during the fourth quarter.

3M

The firm trimmed its 3M Co. (MMM) position by 23.96%. The portfolio was impacted by -0.53%.

The manufacturer of a wide range of industrial and consumer products has a market cap of $93 billion and an enterprise value of $112 billion.

GuruFocus gives the company a profitability and growth rating of 9 out of 10. The return on equity of 45.39% and return on assets of 11.32% are outperforming 89% of companies

Weyerhaeuser (WY) posted better than Street-expected earnings in the second quarter, driven by its core timberlands segment. In addition, September saw the company agree to sell 555,000 acres of land in Michigan for, in our view, a reasonable price.1 Notably, at its low point in the quarter the stock yielded as much as 5.6%—a dividend that may have proved tempting to investors in an otherwise yield-starved environment.

From the First Eagle Global Value Fund's third-quarter 2019 shareholder letter.

Market Overview

The move down in long-term interest rates in recent quarters has shed an ominous light. We’ve seen the yield curve invert in the United States, and there is evidence of softening in the underlying economy. The manufacturing sector has been weak globally, and momentum in the service sector has started to fade. In the United States, services account for more than twothirds of the economy, and weakness here can have a deleterious effect; we’ve seen signs of this in a year-over-year deceleration in average hourly earnings and potentially a third consecutive quarterly decline in S&P 500 earnings growth

We added to our position in timberland owner Weyerhaeuser (NYSE:WY), whose shares lost more than a third of their value in 2018 amid a glut in domestic lumber supply spurred by a cooling housing market and the trade dispute with China. Weyerhaeuser generates strong cash flow and pays a hefty dividend yield, however, and we took advantage of its weakness to increase our position.

From [url=https://www.gurufocus.com/StockBuy.php?GuruName=T+Rowe+Price+Equity+Income+Fund]T Rowe Price Equity Income Fund[/url] ([url=https://www.gurufocus.com/StockBuy.php?GuruName=T+Rowe+Price+Equity+Income+Fund]Trades[/url], [url=https://www.gurufocus.com/holdings.php?GuruName=T+Rowe+Price+Equity+Income+Fund]Portfolio[/url])'s second-quarter 2019 shareholder letter.

Dear Shareholder

Markets overcame a bout of volatility in May and recorded exceptional returns in the six months ended June 30, 2019. The large-cap S&P 500 Index reached record highs and notched its best start to a year in over two decades. Overseas equity markets were also strong, while bond prices rose as longer-term interest rates fell to their lowest levels since late 2016.

Markets rebounded to start the year, as many of the worries behind the sell-off in late 2018 receded. Investors seemed most relieved by a dovish pivot in monetary policy. The S&P 500 scored its best daily

As of Friday, the following companies offer a forward dividend yield that more than doubles the S&P 500 Index's yield of 1.88%. Thus, dividend investors may want to consider buying shares of these stocks.

The first company is BP PLC (BP). The shares closed at $37.45 on Friday for a market capitalization of $125.74 billion. The stock has a forward dividend yield of 6.57% versus the industry median of 4.52%.

The GuruFocus chart shows BP's current trailing annual dividend yield is high compared to its historical value, indicating it is profitable.

On Sept. 20, the London-based

What if you cannot use forecasts of dividend growth or future cash flows to value a company? If that’s the case, you may be able to use asset-based approaches for valuation.

In chapter nine of their 2014 book, "Strategic Value Investing: Practical Techniques of Leading Value Investors," authors Stephen Horan, Robert R. Johnson and Thomas Robinson explored the application of these asset-based models, beginning with book value.

According to the authors, “Asset-based approaches sometimes have the advantage of providing clarity and objectivity in an otherwise ambiguous setting.”

Asset-based models come into their own when the net

Dear Friends and Clients,

The second-quarter of 2019 was a roller coaster ride. After roaring off to a strong start in April, the market experienced a sharp sell-off throughout May, then rallied again in June, allowing most indices to post small gains. The Russell 2500 Value index (small/mid-cap) increased by 1.89%, the Russel 2000 Value index (small-cap) increased 1.37% and the S&P 500 increased by 4.30%.1 Our client portfolios performed in-line with the Russell 2500 Value index for the quarter, and remain ahead of the index year-to-date.2

You may recall from our first quarter letter that we anticipated that the

Jean-Marie Eveillard is one of the most experienced institutional value investors alive today.

Eveillard has been called the first truly global value investor, using his experience to find undervalued stocks all around the world. He is a strict follower of the rules of value investing set out by Benjamin Graham and David Dodd and has used these principles to produce fantastic returns over the past several decades.

He began his career in 1962 at Societe Generale and became portfolio manager of what is now the First Eagle Global Fund in 1979, which he managed until he stepped down in 2004.

U.S. stocks were in negative territory on Friday amid concerns of the U.S.-China trade war.The Dow Jones Industrial Average fell 0.11% to 26,077, the S&P 500 index retreated 0.24% to 2,884 and the Nasdaq Composite Index swelled 0.53% to 7,795.

Shares of Broadcom Inc. (AVGO) fell more than 6% on Friday after the company announced second-quarter results. Revenue grew 10% from the prior-year quarter to $5.52 billion, but fell $180 million short of analysts' expectations. Earnings of $5.21 per share topped estimates by 3 cents.

The gross margin was $3.08 billion, or 56% of net revenue, higher than

The T Rowe Price Equity Income Fund (Trades, Portfolio) bought shares of the following stocks during the first quarter.

The fund acquired a new position in Conagra Brands Inc. (CAG), buying 7,540,000 shares. The trade had an impact of 1.11% on the portfolio.

The company, which manufactures branded consumer foods and snacks, has a market cap of $15.01 billion and an enterprise value of $25.93 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return on equity of 12.08% and return

While gurus hold positions in these companies, their stock prices and returns continue to fall. The following are the worst-performing stocks over the last three months with a long-term presence in more than four gurus’ portfolios.

Class A shares of Actuant Corp . (ATU) declined 19.4% over the last six months. The stock is held by eight gurus.

The real estate development and agribusiness company has a $1.38 billion market cap. The stock is trading with a forward price-earnings ratio of 19.12. The share price of $22.6 is 27.10% below its 52-week high

U.S. stocks were in negative territory on Thursday after Apple (AAPL) lowered its outlook for the fiscal first quarter of 2019 on Wednesday. The Dow Jones Industrial Average fell more than 500 points to 22,828, the S&P 500 index declined 1.80% to 2,464 and the Nasdaq Composite Index retreated 2.29% to 6,513.

Shares of Bristol-Myers Squibb Co. (BMY) fell more than 14% on Thursday after the company announced it will acquire Celgene (CELG) in a transaction valued at $74 billion.

Upon the deal's close, Bristol-Myers shareholders will own more than two-thirds of the combined company and Celgene shareholders will own

The largest Insider Buys this week were for Enterprise Products Partners LP (EPD), General Electric Co. (GE), Keurig Dr Pepper Inc. (KDP) and Weyerhaeuser Co. (WY).

Enterprise Products Partners LP (EPD): President and CFO W. Randall Fowler bought 10,000 shares

President and CFO W. Randall Fowler bought 10,000 shares of EPD stock on Nov. 13 at the average price of $26.19. The price of the stock has increased by 2.75% since.

Enterprise Products Partners LP is an American natural gas and crude oil pipeline company that is a member of the Fortune 500. The company’s products include crude oil, refined

Can you believe it?

Walmart (WMT) is becoming a battle stock. Gone are the days where Walmart was all about the dividend and same store sales.

This has introduced an interesting dilemma. There is now a fundamental shift from thinking of Walmart as the gold standard of long-term holds, to seeing short-term knee jerks.

It’s old news that analysts and the general investing public (myself included) are keen to see Walmart gain more ecommerce market share. So far that hasn’t happened.

Amazon.com (AMZN) is the clear leader and its advantage continues to grow.

Fourth-quarter market share numbers are not available