Jeff Ubben (Trades, Portfolio), founder of ValueAct Holding LP and formerly of Blum Capital, has consistently increased his position in Allison Transmission (ALSN) in the month of October, reporting buying an additional 100,000 on Oct. 15, according to GuruFocus Real Time Picks.
Ubben made three previous purchases of the stock this month. After the most recently reported transaction, he holds 19,150,204 shares in total.
Indiana-based Allison is the world's largest provider of commercial duty fully automatic transmissions, and also sells to the U.S. military. The company's stock year to date has gained 4% and closed at $28.80 per share on Monday.
Allison Transmission plans to report its third quarter results on Oct. 28.
In the second quarter, it announced net sales of $536 million, a 5% increase from the same period a year ago. Net income was $57.2 million, from $50.5 million a year ago.
The company did not announced third quarter 2014 guidance, but said that it expected net sales to increase over the same period in 2013, driven by higher demand in North America On-Highway and Off-Highway end markets and reduced by decreased net sales in its Defense segment.
For the full-year it forecast a year-over-year net sales increase in the range of 4% to 6%.
Allison's long-term revenue and earnings history:
Shares of the company were also purchased by RS Investment Management (Trades, Portfolio) and Lee Ainslie (Trades, Portfolio) in the second quarter.
Allison Transmission has a P/E of 27, P/B of 3.91 and P/S of 2.67.
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This article first appeared on GuruFocus.