Irving Kahn
Buys Mmodal Inc, New York Times, Patterson-Uti Energy, Sells Old
Republic, Travelers Companies, Inc., Medco Health
It has been a while since 106-year old value investor
Irving Kahn
bought into new positions. But in the last quarter he initiated a
new position in Mmodal Inc. He also added to his existing
positions in New York Times, Patterson-Uti Energy etc. He reduced
his positions in Old Republic International Corporation, The
Travelers Companies, Inc., Medco Health Sol, Dime Community
Bancshares, Inc., Comcast Corporation, Newmarket Corporation, Ab
Volvo (adr) during the 3-months ended 06/30/2012, according to
the most recent filings of his investment company, Kahn Brothers.
Irving Kahn
is the only living value investor who went through the Great
Depression in his adult age. He served as the second teaching
assistant to Benjamin Graham at the Columbia Business, and helped
Ben Graham with his seminal book, Security Analysis.
As of 06/30/2012, Kahn Brothers owns 47 stocks with a total value
of $518 million. These are the details of the buys and sells.
- New Purchases:
MODL
,
- Added Positions:
NYT
,
PTEN
,
C
,
- Reduced Positions:
ORI
,
TRV
,
DCOM
,
CMCSA
,
NEU
,
VOLVY
,
- Sold Out:
For the details of
Irving Kahn
's stock buys and sells, go to
http://www.gurufocus.com/StockBuy.php?GuruName=Irving+Kahn
This is the sector weightings of his portfolio:
|
Financials
|
35.2% |
|
Health Care
|
31.8% |
|
Consumer Goods
|
9.1% |
|
Consumer Services
|
7.7% |
|
Industrials
|
5.6% |
|
Oil & Gas
|
5.1% |
|
Technology
|
2.8% |
|
Telecom
|
1.5% |
|
Utilities
|
1.1% |
|
Not Assigned
|
0.1% |
|
Basic Materials
|
0.1% |
These are the top 5 holdings of Irving Kahn
- Pfizer Inc. (
PFE
) - 2,512,819 shares, 11.2% of the total portfolio. Shares
reduced by 0.04%
- Merck & Co., Inc. (
MRK
) - 1,137,047 shares, 9.2% of the total portfolio. Shares
reduced by 3.36%
- New York Community Bancorp, Inc. (
NYB
) - 3,632,690 shares, 8.8% of the total portfolio. Shares added
by 0.1%
- The New York Times Company (
NYT
) - 4,592,750 shares, 6.9% of the total portfolio. Shares added
by 10.79%
- MBIA Inc. (
MBI
) - 2,966,621 shares, 6.2% of the total portfolio. Shares added
by 0.27%
New Purchase: Mmodal Inc (
MODL
)
Irving Kahn initiated holdings in Mmodal Inc. His purchase prices
were between $10.69 and $13.22, with an estimated average price
of $12.29. The impact to his portfolio due to this purchase was
2.6%. His holdings were 1,022,941 shares as of 06/30/2012.
MedQuist Holdings provides integrated clinical documentation
solutions for the U. Mmodal Inc has a market cap of $804.5
million; its shares were traded at around $14.11 with a P/E ratio
of 14.3 and P/S ratio of 1.8.
Added: The New York Times Company (
NYT
)
Irving Kahn added to his holdings in The New York Times Company
by 10.79%. His purchase prices were between $5.91 and $7.69, with
an estimated average price of $6.49. The impact to his portfolio
due to this purchase was 0.67%. His holdings were 4,592,750
shares as of 06/30/2012. New York Times Company is a diversified
media company including newspapers, television and radio
stations, magazines, electronic information and publishing,
Internet businesses, and forest products investments. The New
York Times Company has a market cap of $1.15 billion; its shares
were traded at around $7.98 with a P/E ratio of 10.8 and P/S
ratio of 0.5.
Added: Patterson-uti Energy, Inc. (
PTEN
)
Irving Kahn added to his holdings in Patterson-uti Energy, Inc.
by 16.44%. His purchase prices were between $13.03 and $17.41,
with an estimated average price of $15.42. The impact to his
portfolio due to this purchase was 0.52%. His holdings were
1,320,300 shares as of 06/30/2012. Patterson is one of the
providers of domestic land drillingservices to major &
independent oil & natural gas companies. Patterson-uti
Energy, Inc. has a market cap of $2.43 billion; its shares were
traded at around $15.73 with a P/E ratio of 6.9 and P/S ratio of
1. The dividend yield of Patterson-uti Energy, Inc. stocks is
1.3%. Patterson-uti Energy, Inc. had an annual average earnings
growth of 14.7% over the past 10 years.
Added: Citigroup Inc. (
C
)
Irving Kahn added to his holdings in Citigroup Inc. by 6.59%. His
purchase prices were between $25.05 and $36.78, with an estimated
average price of $30.06. The impact to his portfolio due to this
purchase was 0.38%. His holdings were 1,152,530 shares as of
06/30/2012. Citigroup Inc., the global financial services
company, has some two hundred million customer accounts and does
business in more than hundred countries, providing consumers,
corporations, governments, and institutions with a broad range of
financial products and services, including consumer banking and
credit, corporate and investment banking, securities brokerage,
and wealth management. Citigroup Inc. has a market cap of $80.34
billion; its shares were traded at around $28.56 with a P/E ratio
of 7.5 and P/S ratio of 1. The dividend yield of Citigroup Inc.
stocks is 0.2%.
Reduced: Old Republic International Corporation (
ORI
)
Irving Kahn reduced to his holdings in Old Republic International
Corporation by 89.38%. His sale prices were between $8.18 and
$10.76, with an estimated average price of $9.89. The impact to
his portfolio due to this sale was -4.65%. Irving Kahn still held
289,514 shares as of 06/30/2012. Old Republic International
Corporation is Chicago-based and is an insurance holding company
whose subsidiaries market, underwrite and provide risk management
services for a wide variety of coverages in the property and
liability, mortgage guaranty, title and life and health insurance
fields. Old Republic International Corporation has a market cap
of $2.12 billion; its shares were traded at around $8.18 with and
P/S ratio of 0.5. The dividend yield of Old Republic
International Corporation stocks is 8.7%.
Reduced: The Travelers Companies, Inc. (
TRV
)
Irving Kahn reduced to his holdings in The Travelers Companies,
Inc. by 21.82%. His sale prices were between $58.01 and $64.88,
with an estimated average price of $62.17. The impact to his
portfolio due to this sale was -0.12%. Irving Kahn still held
39,094 shares as of 06/30/2012. St. Paul Travelers is a provider
of commercial property-liability insurance and asset management
services. The Travelers Companies, Inc. has a market cap of
$24.79 billion; its shares were traded at around $63.63 with a
P/E ratio of 11.5 and P/S ratio of 1. The dividend yield of The
Travelers Companies, Inc. stocks is 2.9%. The Travelers
Companies, Inc. had an annual average earnings growth of 3.8%
over the past 5 years.
Reduced: Dime Community Bancshares, Inc. (
DCOM
)
Irving Kahn reduced to his holdings in Dime Community Bancshares,
Inc. by 20.73%. His sale prices were between $12.62 and $14.92,
with an estimated average price of $13.61. The impact to his
portfolio due to this sale was -0.07%. Irving Kahn still held
101,786 shares as of 06/30/2012. Dime Community Bancshares, Inc.
is the holding company The Dime Savings Bank of Williamsburgh.
Dime Community Bancshares, Inc. has a market cap of $503.3
million; its shares were traded at around $14.2 with a P/E ratio
of 10.6 and P/S ratio of 2.3. The dividend yield of Dime
Community Bancshares, Inc. stocks is 3.9%. Dime Community
Bancshares, Inc. had an annual average earnings growth of 10.1%
over the past 10 years. GuruFocus rated Dime Community
Bancshares, Inc. the business predictability rank of 2-star.
Reduced: Comcast Corporation (
CMCSA
)
Irving Kahn reduced to his holdings in Comcast Corporation by
20.04%. His sale prices were between $28.26 and $31.34, with an
estimated average price of $29.68. The impact to his portfolio
due to this sale was -0.06%. Irving Kahn still held 42,509 shares
as of 06/30/2012. Comcast Corp., among the world's communication
companies, provides basic cable, digital cable and high speed
internet services that connect people to what's important in
their lives. Comcast Corporation has a market cap of $93.33
billion; its shares were traded at around $34.94 with a P/E ratio
of 19.8 and P/S ratio of 1.7. The dividend yield of Comcast
Corporation stocks is 1.9%. Comcast Corporation had an annual
average earnings growth of 17.1% over the past 10 years.
GuruFocus rated Comcast Corporation the business predictability
rank of 4-star.
Reduced: Newmarket Corporation (
NEU
)
Irving Kahn reduced to his holdings in Newmarket Corporation by
37.52%. His sale prices were between $183.05 and $228.58, with an
estimated average price of $205.03. The impact to his portfolio
due to this sale was -0.03%. Irving Kahn still held 1,665 shares
as of 06/30/2012. NewMarket Corporation through its subsidiaries,
Afton Chemical Corporation and Ethyl Corporation, develops,
manufactures, blends, and delivers chemical additives that
enhance the performance of petroleum products. Newmarket
Corporation has a market cap of $3.23 billion; its shares were
traded at around $240.18 with a P/E ratio of 14.7 and P/S ratio
of 1.5. The dividend yield of Newmarket Corporation stocks is
1.3%. Newmarket Corporation had an annual average earnings growth
of 24.6% over the past 10 years. GuruFocus rated Newmarket
Corporation the business predictability rank of 3.5-star.
Reduced: Ab Volvo (adr) (
VOLVY
)
Irving Kahn reduced to his holdings in Ab Volvo (adr) by 90%. His
sale prices were between $10.52 and $14.86, with an estimated
average price of $12.13. The impact to his portfolio due to this
sale was -0.02%. Irving Kahn still held 1,000 shares as of
06/30/2012. Volvo manufactures automobiles, trucks, buses, marine
and industrial engines, aircraft engines, and construction
equipment. Ab Volvo (adr) has a market cap of $25.44 billion; its
shares were traded at around $12.85 with a P/E ratio of 9.9 and
P/S ratio of 0.6. The dividend yield of Ab Volvo (adr) stocks is
3%.
Here is the complete portfolio of Irving Kahn. Also check out the
Undervalued Stocks, Top Growth Companies, and High Yield stocks
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