On February 28, 2013 the "Patient Investor"
made his first trade of 2013. The Founder of Ariel Capital
Management added Versar, Inc.
to his portfolio increasing by 8.45%, with current shares of
1,041,547. VSR's current price is $4.44. Versar, Inc. is a global
management company providing engineering, construction,
environmental, and professional sservices to a variety of
customers in the private sector and the government. As a DoD
contractor serving over 20 installations and industrial
facilities in the U.S. and abroad, the company also provides
national security services through its subsidiary GEOMET
Ariel Capital Management lists VSR as one of 133 stocks in a
portfolio with a total value of $4.78 billion and a
quarter-over-quarter turnover of 8%. Rogers manages Ariel's small
and mid-cap institutional portfolios as well as the Ariel Fund (
) and Ariel Appreciation Fund (
). Ariel Capital also lists two new funds: Ariel International
Equity, and Ariel Global Equity Fund.
's holding history of VSR shows a steadily increasing stake since
third quarter 2010.
GuruFocus recently performed a checkup on Versar, Inc., a
provider of support for regulatory compliance programs, and found
three medium warning signs: Versar's revenue has been in decline
over the past 12 months; VSR price ($4.28) is close to 3-year
high of $4.570, and the VSR P/S ratio (0.4) is close to 3-year
high of 0.4. GuruFocus also cites a positive indicator: Versar,
Inc. has enough cash to cover all of its debt.
To see the company's annual growth since 2004:
VSR data byGuruFocus.com
In Ariel Investment Trust's Quarterly Report of December 31,
2012, John Rogers cited the market's return to normal: "We are
excited about the prospects for the stock market as well as our
portfolios as we embark on a new year. In our view, despite the
gains that have already occurred, we are still in the early
innings of a recovery. Our optimism is actually tied to three
possibilities. First, we expect unemployment to continue to drift
lower and ultimately return to more normal levels (6% or so) in
the coming years. And more and more Americans eventually
returning to work should help spur anemic economic growth rates.
In some ways, we consider these factors an inevitable return to
normal. Second, as The New York Times recently surmised, "The
current rally may still have legs precisely because many
investors have so far failed to participate in it." Third, poor
bond returns should eventually lead money back to the stock
market. Our friend, Ed Mathias of the Carlyle Group, has dubbed
this a "melt up." That is, as money melts down out of bonds, it
pours into stocks, which will ultimately drive up share prices.
In our view, one of these scenarios playing out suggests a
positive outcome for the stock market-all of them would be a
Rogers's most recent top buys, top sales, and top holdings are
GuruFocus "Real Time Picks" reports the stock purchases and sales
that Gurus have made within the prior 2 weeks. The report time
lag can be as short as 2 days after the date of the transaction.
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