Weekly highlights of top insider buys. Related companies: Smithfield Foods Inc., Level 3 Communications Inc., Security Bank Corp., Con-way Inc. (CNW, Financial), Gartner Inc.
Smithfield Foods Inc. (SFD, Financial): Director Paul J. Fribourg Bought 155,570 Shares
Director of Smithfield Foods Inc. (SFD) Paul J. Fribourg bought 155,570 shares during the past week at an average price of $28.22. Since 09/21, Fribourg bought a total of 691,070 shares of SFD stock at $28.01 to $29.93. Another insider buy was made by the President and C.E.O., C. Larry Pope, who bought 10,000 shares at $29.31.
Smithfield Foods, Inc. engages in production of hog, and processing of pork and beef worldwide. The company offers fresh pork products, including unprocessed and trimmed cuts, such as loins, picnics, and ribs. Smithfield Foods Inc. has a market cap of $3.72 billion; its shares were traded at around $28.15 with P/E ratio of 16.50 and P/S ratio of 0.30.
Late-October, Russia banned imports of chicken and pork from Smithfield’s processing plants. Without the U.S. meat export to Russia, the price of meat, especially chicken and pork will be priced lower in the U.S. Effectively, meat industry will see a decrease in profits.
Since the last quarter, Guru David Dreman increased his position by 16.71%. Dreman currently owns 49,950, which accounts for 0.01% of the $19.55 billion portfolio in Dreman Value Management.
SFD stock is also owned by three other gurus. Guru George Soros owns 62,459 shares as of 06/30, which accounts for 0.06% of the $3.15 billion portfolio of Soros Fund Management LLC. Guru Arnold Schneider owns 182,875 shares as of 06/30, which accounts for 0.13% of the $4.37 billion portfolio of Schneider Capital Management. And lastly, Guru Ruane Cunniff owns 85,827 shares as of 06/30, which accounts for 0.02% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc.
On the reduction note, NWQ Managers decreased their position by 90.43%. Currently they own 1,063,376 shares. Charles Brandes sold out his holdings in the second quarter. President of Packing Co, Joseph W. Luter IV., sold a chunk of 36,400 shares at $32.02.
Level 3 Communications Inc. (LVLT, Financial): Director Douglas C. Eby Bought 1,005,000 Shares; Director Michael J. Mahoney Bought 30,000 Shares
Director of Level 3 Communications Inc. (LVLT), Douglas C. Eby, bought 1,005,000 shares of LVLT stock on 11/01 at $3. Director Michael J. Mahoney bought 30,000 shares of LVLT stock on 10/31 at $3.09.
Level 3 Communications, Inc. is a provider for wholesale dial-up and internet services. The company engages in the communications business primarily in North America and Europe. It offers switched services, including long distance origination, transport, and termination services; services that terminate toll free calling. Level 3 Communications Inc. has a market cap of $4.69 billion; its shares were traded at around $3.06 with P/S ratio of 1.17.
LVLT reported a third quarter loss of $0.11 per share or $174 million. LVLT acquired six other network companies; however, the company admitted that its loss was due to inability to integrate the segments together. LVLT also announced the resignation of its CFO, Sunit Patel. Analysts say LVLT is undergoing “growing pains” and predict the company will not begin to improve until 2008.
George Soros increased his position by 18.46%. Soros owns 5,621,808 shares. This position accounts for 1.04% of the $3.15 billion portfolio of Soros Fund Management LLC. Also, Mason Hawkins, who owns 373,303,403 shares, increased his postion by 23.16%. His position accounts for 6.43% of the $33.96 billion portfolio of Southeastern Asset Management.
Bill Miller owns 67,677,000 shares as of 06/30, which accounts for 4.6% of the $20.59 billion portfolio of Legg Mason Value Trust.
Notable sales made inside the company at $3.09 to $5.05, with an average of $4.67. CEO James Q. Crowe sold 73,285 shares; President of Content Markets, Brady Reid Rafuse, sold 72,708 shares; Group VP and CFO Sunit S Patel sold 23,918 shares; President and COO Kevin J. Ohara sold 6,997 shares; Vice Chairman and Executive VP Charles C. Miller III sold 5,089; Executive Vice President Thomas C Stortz and President of Wholesale Markets Sureel A Choksi each sold 4,019 shares.
Security Bank Corp. (SBKC, Financial): Director Benjamin W. Griffith III Bought 220,600 Shares
Director of Security Bank Corp. (SBKC), Benjamin W. Griffith III, bought 220,600 shares during the past week at an average price of $10.27. Since July, Griffith purchased a total of 350,600 shares at $10 to $14.47.
Security Bank Corporation operates as a multi-bank holding company that offers a range of community banking services in Georgia. The company, through its banking subsidiaries, Security Bank of Bibb County, Security Bank of Houston County, Security Bank of Jones County, Security Bank of North Metro, Security Bank of North Fulton, and Security Bank of Gwinnett County, provides a range of retail and commercial banking services . Security Bank Corp. has a market cap of $180.04 million; its shares were traded at around $9.66 with P/E ratio of 9.82 and P/S ratio of 1.98. The dividend yield of Security Bank Corp. stocks is 3.5%
SBKC’s income is down by 92% comparing to the 2006 third quarter. Earnings were $0.03 per share for the third quarter. The company stock market decline in is due to lower net profit and higher loan losses. CEO Rett Walker stated, “It's been an unusual quarter in terms of overall credit market conditions and the fallout from sub-prime lending, a market in which we did not participate but one that is impacting us nevertheless.”
Four other Directors purchased stocks at price range of $9.70 to $15.62. Director Benjamin G. Porter bought a total of 36,731 shares; Director Joe E. Timberlake III bought 5,000 shares; and finally, Director Robert M. Stainaker and H. Cullen Talton each bought 1,000 shares.
Con-way Inc. (CNW): Director Peter W. Stott Bought 20,000 Shares
Director of Con-way Inc. (CNW), Peter W. Stott, bought 20,000 shares on 11/01 at an average price of $40.88.
Con-Way, Inc. provides transportation, logistics, and supply chain management services for a range of manufacturing, industrial, and retail customers. Con-way Inc. has a market cap of $1.81 billion; its shares were traded at around $40.17 with P/E ratio of 9.86 and P/S ratio of 0.43. The dividend yield of Con-way Inc. stocks is 1%
For the third quarter, CNW’s profits fell after net income dropped by 41%. The company announced that the company suffered from restructuring costs and weak demand in the transportation sector. However, according to analysts, the second rate cut this October did help the freight company shares to rise a bit.
Richard Pzena increased his position by 205.19%. Pzena owns 192,425 shares as of 06/30, which accounts for 0.03% of the $28.22 billion portfolio of Pzena Investment Management LLC.
Two other gurus own CNW stock: HOTCHKIS & WILEY owns 4,326,516 shares and Tweedy Browne owns 1,076,142 shares as of 06/30.
Gartner Inc. (IT, Financial): Director James C. Smith Bought 25,000 Shares; SVP Dale Kutnick bought 25,000 Shares
Director of Gartner Inc. (IT), James C. Smith, bought 25,000 shares of IT stock on 11/01 at $21.29. SVP of Executive Programs, Dale Kutnick, also bought 25,000 shares at $21.83. Director Karen E. Dykstra bought 6,800 shares at $22.03.
Gartner, Inc. provides independent and objective research and analysis on information technology (IT), computer hardware, software, communications, and related technology industries. Gartner Inc. has a market cap of $2.24 billion; its shares were traded at around $21.42 with P/E ratio of 41.67 and P/S ratio of 1.95.
The third quarter revenue increased by 13% to $266.9 million. Earnings also increased from $.08 to $0.11 compared to Q3 of 2006, which is a 30% increase. Analysts expected IT to earn $0.71 per share for 2007. According to the company’s Chief Executive, the good report is owed to a revenue growth from the research segment.
Ron Baron bought 1,453,300 shares in the second quarter. His ownership is 0.18% of the $19.54 billion portfolio of Baron Funds.
Major sells were made inside the company at average price of $25. SVP Robin B. Kranich sold 20,725 shares. Director Maynard G. Webb Jr sold 18,667 shares. SVP of Chief Marketing Officer Joseph T. Waters sold 10,000 shares. And lastly, CFO & EVP Christopher Lafond sold 3,400 shares.
Unifi Inc. (UFI, Financial): Director Kenneth G Langone Bought 191,000 Shares
Director of Unifi Inc. (UFI) Kenneth G. Langone bought a total of 191,000 shares of UFI stock at $2.65 to $2.78.
Unifi, Inc. is a textile manufacturer that produces and processes multifilament polyester and nylon yarns, including specialty yarns. It operates in two segments, Polyester and Nylon. Unifi Inc. has a market cap of $164.07 million; its shares were traded at around $2.76 with P/S ratio of 0.24.
For the first quarter, UFI reported a loss of $9.2 million, or 15 cents per share, for its fiscal first quarter. Comparing to the previous year, the company has decreased its loss by 8.9%. Early October, UFI also announced its new CFO, Ronald Smith; also, earlier in the summer, CEO of UFI was fired and board of directors resigned. According to analyst, the company lost money for many years due to price drops and production shifts to overseas.
Huge insider buys were made at $2.25 to $2.69 since August. The Vice President, COO, and CFO of UFI, William M. Lowe Jr, bought 10,000 shares; Director G. Alfred Webster bought 50,000 shares; Director William M. Sams bought 270,000 shares; Vice President William L. Jasper bought 5,000 shares.
Smithfield Foods Inc. (SFD, Financial): Director Paul J. Fribourg Bought 155,570 Shares
Director of Smithfield Foods Inc. (SFD) Paul J. Fribourg bought 155,570 shares during the past week at an average price of $28.22. Since 09/21, Fribourg bought a total of 691,070 shares of SFD stock at $28.01 to $29.93. Another insider buy was made by the President and C.E.O., C. Larry Pope, who bought 10,000 shares at $29.31.
Smithfield Foods, Inc. engages in production of hog, and processing of pork and beef worldwide. The company offers fresh pork products, including unprocessed and trimmed cuts, such as loins, picnics, and ribs. Smithfield Foods Inc. has a market cap of $3.72 billion; its shares were traded at around $28.15 with P/E ratio of 16.50 and P/S ratio of 0.30.
Late-October, Russia banned imports of chicken and pork from Smithfield’s processing plants. Without the U.S. meat export to Russia, the price of meat, especially chicken and pork will be priced lower in the U.S. Effectively, meat industry will see a decrease in profits.
Since the last quarter, Guru David Dreman increased his position by 16.71%. Dreman currently owns 49,950, which accounts for 0.01% of the $19.55 billion portfolio in Dreman Value Management.
SFD stock is also owned by three other gurus. Guru George Soros owns 62,459 shares as of 06/30, which accounts for 0.06% of the $3.15 billion portfolio of Soros Fund Management LLC. Guru Arnold Schneider owns 182,875 shares as of 06/30, which accounts for 0.13% of the $4.37 billion portfolio of Schneider Capital Management. And lastly, Guru Ruane Cunniff owns 85,827 shares as of 06/30, which accounts for 0.02% of the $12.38 billion portfolio of Ruane & Cunniff & Goldfarb Inc.
On the reduction note, NWQ Managers decreased their position by 90.43%. Currently they own 1,063,376 shares. Charles Brandes sold out his holdings in the second quarter. President of Packing Co, Joseph W. Luter IV., sold a chunk of 36,400 shares at $32.02.
Level 3 Communications Inc. (LVLT, Financial): Director Douglas C. Eby Bought 1,005,000 Shares; Director Michael J. Mahoney Bought 30,000 Shares
Director of Level 3 Communications Inc. (LVLT), Douglas C. Eby, bought 1,005,000 shares of LVLT stock on 11/01 at $3. Director Michael J. Mahoney bought 30,000 shares of LVLT stock on 10/31 at $3.09.
Level 3 Communications, Inc. is a provider for wholesale dial-up and internet services. The company engages in the communications business primarily in North America and Europe. It offers switched services, including long distance origination, transport, and termination services; services that terminate toll free calling. Level 3 Communications Inc. has a market cap of $4.69 billion; its shares were traded at around $3.06 with P/S ratio of 1.17.
LVLT reported a third quarter loss of $0.11 per share or $174 million. LVLT acquired six other network companies; however, the company admitted that its loss was due to inability to integrate the segments together. LVLT also announced the resignation of its CFO, Sunit Patel. Analysts say LVLT is undergoing “growing pains” and predict the company will not begin to improve until 2008.
George Soros increased his position by 18.46%. Soros owns 5,621,808 shares. This position accounts for 1.04% of the $3.15 billion portfolio of Soros Fund Management LLC. Also, Mason Hawkins, who owns 373,303,403 shares, increased his postion by 23.16%. His position accounts for 6.43% of the $33.96 billion portfolio of Southeastern Asset Management.
Bill Miller owns 67,677,000 shares as of 06/30, which accounts for 4.6% of the $20.59 billion portfolio of Legg Mason Value Trust.
Notable sales made inside the company at $3.09 to $5.05, with an average of $4.67. CEO James Q. Crowe sold 73,285 shares; President of Content Markets, Brady Reid Rafuse, sold 72,708 shares; Group VP and CFO Sunit S Patel sold 23,918 shares; President and COO Kevin J. Ohara sold 6,997 shares; Vice Chairman and Executive VP Charles C. Miller III sold 5,089; Executive Vice President Thomas C Stortz and President of Wholesale Markets Sureel A Choksi each sold 4,019 shares.
Security Bank Corp. (SBKC, Financial): Director Benjamin W. Griffith III Bought 220,600 Shares
Director of Security Bank Corp. (SBKC), Benjamin W. Griffith III, bought 220,600 shares during the past week at an average price of $10.27. Since July, Griffith purchased a total of 350,600 shares at $10 to $14.47.
Security Bank Corporation operates as a multi-bank holding company that offers a range of community banking services in Georgia. The company, through its banking subsidiaries, Security Bank of Bibb County, Security Bank of Houston County, Security Bank of Jones County, Security Bank of North Metro, Security Bank of North Fulton, and Security Bank of Gwinnett County, provides a range of retail and commercial banking services . Security Bank Corp. has a market cap of $180.04 million; its shares were traded at around $9.66 with P/E ratio of 9.82 and P/S ratio of 1.98. The dividend yield of Security Bank Corp. stocks is 3.5%
SBKC’s income is down by 92% comparing to the 2006 third quarter. Earnings were $0.03 per share for the third quarter. The company stock market decline in is due to lower net profit and higher loan losses. CEO Rett Walker stated, “It's been an unusual quarter in terms of overall credit market conditions and the fallout from sub-prime lending, a market in which we did not participate but one that is impacting us nevertheless.”
Four other Directors purchased stocks at price range of $9.70 to $15.62. Director Benjamin G. Porter bought a total of 36,731 shares; Director Joe E. Timberlake III bought 5,000 shares; and finally, Director Robert M. Stainaker and H. Cullen Talton each bought 1,000 shares.
Con-way Inc. (CNW): Director Peter W. Stott Bought 20,000 Shares
Director of Con-way Inc. (CNW), Peter W. Stott, bought 20,000 shares on 11/01 at an average price of $40.88.
Con-Way, Inc. provides transportation, logistics, and supply chain management services for a range of manufacturing, industrial, and retail customers. Con-way Inc. has a market cap of $1.81 billion; its shares were traded at around $40.17 with P/E ratio of 9.86 and P/S ratio of 0.43. The dividend yield of Con-way Inc. stocks is 1%
For the third quarter, CNW’s profits fell after net income dropped by 41%. The company announced that the company suffered from restructuring costs and weak demand in the transportation sector. However, according to analysts, the second rate cut this October did help the freight company shares to rise a bit.
Richard Pzena increased his position by 205.19%. Pzena owns 192,425 shares as of 06/30, which accounts for 0.03% of the $28.22 billion portfolio of Pzena Investment Management LLC.
Two other gurus own CNW stock: HOTCHKIS & WILEY owns 4,326,516 shares and Tweedy Browne owns 1,076,142 shares as of 06/30.
Gartner Inc. (IT, Financial): Director James C. Smith Bought 25,000 Shares; SVP Dale Kutnick bought 25,000 Shares
Director of Gartner Inc. (IT), James C. Smith, bought 25,000 shares of IT stock on 11/01 at $21.29. SVP of Executive Programs, Dale Kutnick, also bought 25,000 shares at $21.83. Director Karen E. Dykstra bought 6,800 shares at $22.03.
Gartner, Inc. provides independent and objective research and analysis on information technology (IT), computer hardware, software, communications, and related technology industries. Gartner Inc. has a market cap of $2.24 billion; its shares were traded at around $21.42 with P/E ratio of 41.67 and P/S ratio of 1.95.
The third quarter revenue increased by 13% to $266.9 million. Earnings also increased from $.08 to $0.11 compared to Q3 of 2006, which is a 30% increase. Analysts expected IT to earn $0.71 per share for 2007. According to the company’s Chief Executive, the good report is owed to a revenue growth from the research segment.
Ron Baron bought 1,453,300 shares in the second quarter. His ownership is 0.18% of the $19.54 billion portfolio of Baron Funds.
Major sells were made inside the company at average price of $25. SVP Robin B. Kranich sold 20,725 shares. Director Maynard G. Webb Jr sold 18,667 shares. SVP of Chief Marketing Officer Joseph T. Waters sold 10,000 shares. And lastly, CFO & EVP Christopher Lafond sold 3,400 shares.
Unifi Inc. (UFI, Financial): Director Kenneth G Langone Bought 191,000 Shares
Director of Unifi Inc. (UFI) Kenneth G. Langone bought a total of 191,000 shares of UFI stock at $2.65 to $2.78.
Unifi, Inc. is a textile manufacturer that produces and processes multifilament polyester and nylon yarns, including specialty yarns. It operates in two segments, Polyester and Nylon. Unifi Inc. has a market cap of $164.07 million; its shares were traded at around $2.76 with P/S ratio of 0.24.
For the first quarter, UFI reported a loss of $9.2 million, or 15 cents per share, for its fiscal first quarter. Comparing to the previous year, the company has decreased its loss by 8.9%. Early October, UFI also announced its new CFO, Ronald Smith; also, earlier in the summer, CEO of UFI was fired and board of directors resigned. According to analyst, the company lost money for many years due to price drops and production shifts to overseas.
Huge insider buys were made at $2.25 to $2.69 since August. The Vice President, COO, and CFO of UFI, William M. Lowe Jr, bought 10,000 shares; Director G. Alfred Webster bought 50,000 shares; Director William M. Sams bought 270,000 shares; Vice President William L. Jasper bought 5,000 shares.
