The tree-growing, timber-selling wood products manufacturer,
Potlatch Corp. (
PCH
) will now see less of Southeastern Asset Management, the adviser
to Longleaf Partners Funds.
The investment team, led by CEO
Mason Hawkins
, has reported selling more than 1.4 million shares, or 51.59
percent of its stake in Potlatch, according to
GuruFocus Real Time Picks
.
From owning 6.99 percent of the company's outstanding shares in
the third quarter of last year, Hawkins has descended down to 3.4
percent ownership.
The reduction came as soon as Potlatch met its one-year peak, and
sudden rise in market value. A week ago, the stock was trading
around $38. Today, its price is $40.61, up 0.2 percent, minutes
before market close. Since the year began, Potlatch has gone up
5.22 percent.
PCH
data by GuruFocus.com
From a one-year perspective, Potlatch has returned 30 percent in
market value.
As a real estate investment trust (REIT), Potlatch owns about
1.43 million acres of timberland in Arkansas, Idaho and
Minnesota. With this land, the company manages every acre under
the Forest Stewardship Council silviculture standards, the
practice of controlling the growth and quality of forests and
woodlands.
With a 3.2 percent dividend yield, and a payout ratio of 1.8,
Potlatch maintains a five-year 9.56 percent earnings per share
growth rate, according to 10-Year Financials. On Dec. 28, the
company distributed its final quarterly payout for the year,
which was $0.31 per share to its stockholders.
As of the third quarter of 2012, Hawkins' then, 2.8 million
shares of Potlatch, represented 0.47 percent of his fund's
portfolio. Around the same time, his top holdings were FedEx
Corp. (
FDX
), Bank of New York Mellon Corp. (
BK
), Vulcan Materials Company (
VMC
) and Franklin Resources (
BEN
).
Hawkins holds 41 companies in his portfolio, worth about $22.5
billion.
To view more of Mason Hawkins' recent trades, visit his latest
stock picks. Also view his high-yield stocks, top growth
companies and undervalued picks.
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