David Herro's Top a Additions in ast Quarter Have Margins of Safety Exceeding aa%
- By David Goodloe
The top four transactions made by David Herro (Trades, Portfolio) of Oakmark International Fund in the first quarter were additions to existing stakes. The top two sold with margins of safety that exceeded 30%, according to the DCF Calculator.
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Herroas most noteworthy transaction of the first quarter was the addition of 13,020,000 shares to his stake in Sumitomo Mitsui Financial Group Inc. (TSE:8316), a Tokyo-based banking and financial services company. In raising his stake more than 183%, Herro paid an average price of A3,644.38 ($33.18 in U.S. currency) per share. The deal had a 1.58% impact on Herroas portfolio.
The stake, now 20,134,000 shares, is 1.47% of Sumitomoas outstanding shares and 2.44% of Herroas total assets. Herro is Sumitomoas leading shareholder among the gurus.
Sumitomo has a P/E of 7.3, a forward P/E of 6.7, a P/B of 0.5 and a P/S of 1.4. GuruFocus gives Sumitomo a Financial Strength rating of 7/10 and a Profitability and Growth rating of 6/10.
Sumitomo sold for A3,504 ($31.90 in American money) per share Friday. The DCF Calculator gives Sumitomo a fair value of A5,059.95 per share, a 31% margin of safety.
The guru boosted his stake in Ashtead Group PLC (AHT.L), a London-based industrial equipment rental company, by almost 226%. Herro acquired 23,602,000 shares for an average price of A9 ($13.22 in U.S. money) per share. The transaction had 1.17% impact on Herroas portfolio.
The stake, now 34,048,000 shares, is 6.76% of Ashteadas outstanding shares and 1.69% of Herroas total assets. Herro is Ashteadas only guru shareholder.
Ashtead has a P/E of 13.3, a forward P/E of 10.9, a P/B of 3.8 and a P/S of 2. GuruFocus gives Ashtead a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Ashtead sold for A9.86 ($14.49 in American dollars) per share Friday. The DCF Calculator gives Ashtead a fair value of A20.78, a 53% margin of safety.
Herro hiked his stake in Safran SA (SAF.PA), an aerospace and defense company based in Paris, by nearly 443% with the purchase of 3,805,000 shares for an average price of a57.39 ($64.15 in U.S. dollars) per share. The deal had a 1.06% impact on Herroas portfolio.
The stake, now 4,664,000 shares, is 1.12% of Safranas outstanding shares and 1.3% of Herroas total assets. Herro is Safranas leading shareholder among the gurus.
Safran has a forward P/E of 16.2, a P/B of 4.7 and a P/S of 1.5. GuruFocus gives Safran a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.