The Tweedy Browne Global Value Fund seeks long-term growth of capital by investing throughout the world in a diversified portfolio consisting primarily of non-U.S. marketable equity securities. Although, they note, investments in U.S. securities are permitted and will be made when opportunities in the U.S. appear more attractive. Investments are focused in developed markets, and where practicable, perceived foreign currency exposure is hedged back into the U.S. dollar. The fund is currently managed by the team of Tweedy Browne Partners. As of the second quarter the Tweedy Browne Global Value Fund held 101 stocks, three of them new buys, valued at around $5.1 billion.
The following companies represent the top increases the team at Tweedy Browne made to their portfolio.
TNT Express NV (XAMS:TNTE)
During the last quarter Tweedy Browne Global increased their position in TNT Express by 519.25%. The guru fund purchased 5,395,000 shares at an average price of €5.84 per share. Since their most recent buy, the price per share has increased approximately 1.5%.
Tweedy Browne now holds 6,434,000 shares of TNT Express, representing 1.18% of the company’s shares outstanding and 0.95% of their total portfolio. Tweedy Browne’s holding history of TNT Express:
TNT Express provides door-to-door express delivery services for customers sending documents, parcels, freight and special services worldwide, with a focus on time-certain and/or day-certain pick-up and delivery. TNT Express is headquartered in Amsterdam, The Netherlands.
TNT Express’ historical price, revenue and net income:
The company reported its second quarter results yesterday which highlighted:
· Reported revenues of €1,702 million, down -3.1%.
· Operating loss of €280, from an operating income of €94 last year.
· Interim pro forma 2013 dividend of €0.022 per share declared representing 40% pay-out of 1H 13 normalized net income.
· Period end net cash position of €287million
TNT Express has a market cap of €3.18 billion. Its shares are currently being traded at around €5.93 with a P/E ratio of 69.93, a P/S ratio of 0.44 and a P/B ratio of 1.18. The company also currently offers a 0.43% dividend yield.
Tweedy Browne is the only Guru fund that holds a position in TNT Express.
DBS Group Holdings ([/url]SGX:D05)
During the second quarter Tweedy Browne Global increased their position in DBS Group Holdings 452.55% by purchasing a total of 5,981,300 shares. The fund purchased these shares at an average price of $16.38 per share. Since this buy, the price per share has increased approximately 2.5% from the average purchase price.
Tweedy Browne now holds on to a total of 7,303,000 shares of DBS Group Holdings, representing a total of 0.30% of the company’s shares outstanding and 1.8% of their total portfolio. Tweedy Browne’s holding history of DBS Group:
DBS is a financial services group in Asia. The company has over 250 branches across 15 markets and is headquartered and listed in Singapore.
DBS Group Holdings’ historical price, revenue and net income:
The analysis on the company reports that the company shows strong financial street as well as expansion in its operating margin. It also notes that the price is inching closer to at 3-year high and that the P/S ratio is near a 5-year high.
DBS Group has a market cap of $41.07 billion. Its shares are currently traded at around $16.79 with a P/E ratio of 10.80, a P/S ratio of 4.81 and a P/B ratio of 1.10. The dividend yield of DBS stocks is at 3.34%. The company has seen an annual average earnings growth of 6% over the past five years.
Tweedy Browne is the only guru fund that holds a position in TNT Express.
Joy Global ([/url]JOY)
Over the past quarter Tweedy Browne Global added 715,971 shares to their holdings of Joy Global. This represented a 108.89% increase in the fund’s holdings on the company. Tweedy Browne purchased these shares at an average price of $55.05 per share. Since their most recent buy, the price per share is down about -10.3%.
As of their most recent buy, Tweedy Browne holds 1,373,501 shares of Joy Global, representing 1.29% of the company’s shares outstanding and 1.3% of their total portfolio. Tweedy Browne’s holding history of Joy Global:
Joy Global is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The Company equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands and other minerals.
Joy Global’s historical price, revenue and net income:
Net second quarter sales at Joy Global declined to $1.4 billion from $1.5 billion the previous year, in line with expectations. Operating income declined 20.5% over the previous year to $279 million, as operational efficiencies and cost reduction efforts affected the company. Soft market conditions and other factors combined to hinder the company from meeting the upper portion of its prior revenue guidance, and it lowered its earnings per share guidance range.
The Peter Lynch chart indicates the stock is undervalued:
[url=http://www.gurufocus.com/chart/JOY#&serie=,,id:custompe,s:JOY&log=1&per=0]
Joy Global has a market cap of $5.19 billion. Its shares are currently trading at around $49.59 with a P/E ratio of 7.30, a P/S ratio of 1.00 and a P/B ratio of 1.90. The company had an annual average earnings growth of 31.1% over the past ten years.
GuruFocus rated Joy Global the [/url]business predictability rank of 3.5-star.
There are 14 gurus that hold a position in Joy Global. Check out their holding histories here.
G4S PLC (LSE:GFS)
Tweedy Browne Global bought 14,783,485 shares of G4S over the past quarter, representing a 78.06% increase to his holdings in the company. The fund purchased these shares for an average price of £2.67 per share. Since their buy, the share price has dropped 15.7%.
Tweedy Browne holds more shares of G4S than any other stock in their portfolio with 33,721,485 shares, representing 2.39% of the company’s shares outstanding and 2.3% of their total portfolio. Tweedy Browne’s holding history of G4S PLC:
G4S is one of the world’s leading secure outsourcing groups, specializing in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat. G4S is also the largest employer quoted on the London Stock Exchange.
G4S’s historical price, revenue and net income:
The company released a Notification of Major Shareholding earlier today stating that Invesco Limited now holds voting rights over 226,277,462 shares. This amounts to 16.04% of the company’s total voting rights.
G4S PLC has a market cap of £3.19 billion. Its shares are currently being traded at around £2.25 with a P/E ratio of 28.57, a P/S ratio of 0.42 and a P/B ratio of 1.98.
The company also offers a current dividend yield of 3.98%.
You can viewTweedy Browne Global Fund’s [/url]current portfolio here.
Also try a free7-day Premium Membership trial here.
The following companies represent the top increases the team at Tweedy Browne made to their portfolio.
TNT Express NV (XAMS:TNTE)
During the last quarter Tweedy Browne Global increased their position in TNT Express by 519.25%. The guru fund purchased 5,395,000 shares at an average price of €5.84 per share. Since their most recent buy, the price per share has increased approximately 1.5%.
Tweedy Browne now holds 6,434,000 shares of TNT Express, representing 1.18% of the company’s shares outstanding and 0.95% of their total portfolio. Tweedy Browne’s holding history of TNT Express:
TNT Express provides door-to-door express delivery services for customers sending documents, parcels, freight and special services worldwide, with a focus on time-certain and/or day-certain pick-up and delivery. TNT Express is headquartered in Amsterdam, The Netherlands.
TNT Express’ historical price, revenue and net income:
The company reported its second quarter results yesterday which highlighted:
· Reported revenues of €1,702 million, down -3.1%.
· Operating loss of €280, from an operating income of €94 last year.
· Interim pro forma 2013 dividend of €0.022 per share declared representing 40% pay-out of 1H 13 normalized net income.
· Period end net cash position of €287million
TNT Express has a market cap of €3.18 billion. Its shares are currently being traded at around €5.93 with a P/E ratio of 69.93, a P/S ratio of 0.44 and a P/B ratio of 1.18. The company also currently offers a 0.43% dividend yield.
Tweedy Browne is the only Guru fund that holds a position in TNT Express.
DBS Group Holdings ([/url]SGX:D05)
During the second quarter Tweedy Browne Global increased their position in DBS Group Holdings 452.55% by purchasing a total of 5,981,300 shares. The fund purchased these shares at an average price of $16.38 per share. Since this buy, the price per share has increased approximately 2.5% from the average purchase price.
Tweedy Browne now holds on to a total of 7,303,000 shares of DBS Group Holdings, representing a total of 0.30% of the company’s shares outstanding and 1.8% of their total portfolio. Tweedy Browne’s holding history of DBS Group:
DBS is a financial services group in Asia. The company has over 250 branches across 15 markets and is headquartered and listed in Singapore.
DBS Group Holdings’ historical price, revenue and net income:
The analysis on the company reports that the company shows strong financial street as well as expansion in its operating margin. It also notes that the price is inching closer to at 3-year high and that the P/S ratio is near a 5-year high.
DBS Group has a market cap of $41.07 billion. Its shares are currently traded at around $16.79 with a P/E ratio of 10.80, a P/S ratio of 4.81 and a P/B ratio of 1.10. The dividend yield of DBS stocks is at 3.34%. The company has seen an annual average earnings growth of 6% over the past five years.
Tweedy Browne is the only guru fund that holds a position in TNT Express.
Joy Global ([/url]JOY)
Over the past quarter Tweedy Browne Global added 715,971 shares to their holdings of Joy Global. This represented a 108.89% increase in the fund’s holdings on the company. Tweedy Browne purchased these shares at an average price of $55.05 per share. Since their most recent buy, the price per share is down about -10.3%.
As of their most recent buy, Tweedy Browne holds 1,373,501 shares of Joy Global, representing 1.29% of the company’s shares outstanding and 1.3% of their total portfolio. Tweedy Browne’s holding history of Joy Global:
Joy Global is a manufacturer and servicer of mining equipment for the extraction of coal and other minerals and ores. The Company equipment is used in major mining regions throughout the world to mine coal, copper, iron ore, oil sands and other minerals.
Joy Global’s historical price, revenue and net income:
Net second quarter sales at Joy Global declined to $1.4 billion from $1.5 billion the previous year, in line with expectations. Operating income declined 20.5% over the previous year to $279 million, as operational efficiencies and cost reduction efforts affected the company. Soft market conditions and other factors combined to hinder the company from meeting the upper portion of its prior revenue guidance, and it lowered its earnings per share guidance range.
The Peter Lynch chart indicates the stock is undervalued:
[url=http://www.gurufocus.com/chart/JOY#&serie=,,id:custompe,s:JOY&log=1&per=0]
Joy Global has a market cap of $5.19 billion. Its shares are currently trading at around $49.59 with a P/E ratio of 7.30, a P/S ratio of 1.00 and a P/B ratio of 1.90. The company had an annual average earnings growth of 31.1% over the past ten years.
GuruFocus rated Joy Global the [/url]business predictability rank of 3.5-star.
There are 14 gurus that hold a position in Joy Global. Check out their holding histories here.
G4S PLC (LSE:GFS)
Tweedy Browne Global bought 14,783,485 shares of G4S over the past quarter, representing a 78.06% increase to his holdings in the company. The fund purchased these shares for an average price of £2.67 per share. Since their buy, the share price has dropped 15.7%.
Tweedy Browne holds more shares of G4S than any other stock in their portfolio with 33,721,485 shares, representing 2.39% of the company’s shares outstanding and 2.3% of their total portfolio. Tweedy Browne’s holding history of G4S PLC:
G4S is one of the world’s leading secure outsourcing groups, specializing in outsourcing of business processes in sectors where security and safety risks are considered a strategic threat. G4S is also the largest employer quoted on the London Stock Exchange.
G4S’s historical price, revenue and net income:
The company released a Notification of Major Shareholding earlier today stating that Invesco Limited now holds voting rights over 226,277,462 shares. This amounts to 16.04% of the company’s total voting rights.
G4S PLC has a market cap of £3.19 billion. Its shares are currently being traded at around £2.25 with a P/E ratio of 28.57, a P/S ratio of 0.42 and a P/B ratio of 1.98.
The company also offers a current dividend yield of 3.98%.
You can viewTweedy Browne Global Fund’s [/url]current portfolio here.
Also try a free7-day Premium Membership trial here.
