The changes in the third quarter portfolio of the Olstein All-Cap Value Fund, managed by Guru Robert Olstein, include 37 reductions and sells combined, including high-impact decreases of his positions in Microsoft Corporation (MSFT, Financial), Thor Industries Inc. (THO, Financial), Cisco Systems Inc. (CSCO, Financial) and Harman International Industries Inc. (HAR, Financial).
Robert Olstein updated portfolio lists 123 stocks, 8 of them new, and a total value at $652 million. The quarter-over-quarter turnover is 10%. Olstein’s portfolio is weighted with consumer cyclical at 22.7%, industrials at 22.7 and technology at 17.4%. He is averaging a return of 20.13% over 12 months.
Here’s a look at Olstein’s highest-impact third quarter reductions, starting with Microsoft Corporation, recently reporting a 16% increase in revenue over the same quarter a year ago, with revenue of $18.53 billion for the quarter ended September 30, 2013. The company had quarterly net income of $5.24 billion and diluted earnings of $0.62 per share.
Microsoft Corporation (MSFT): Reduced
Impacts Portfolio: -0.74%
Current Shares: 140,000
Up 38% over 12 months, Microsoft Corporation has a market cap of $309.71 billion; its shares trade with a P/E ratio of 13.90. The dividend yield is 2.50%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his MSFT position by 49.64%, selling 138,000 shares at an average price of $32.90 per share, gaining 12.8%.
The current share price is around $37.10, with a change from average up 13%.
Across a five-year history, Robert Olstein averaged a gain of 55% buying 458,400 shares at an average price of $23.93 per share. Selling, he averaged a gain of 47% on 1,291,700 shares at an average price of $25.26 per share.
Check out the third quarter trading of MSFT and recent insider selling.
Track historical pricing, revenue and net income:
Thor Industries Inc. (THO): Reduced
Impacts Portfolio: -0.64%
Current Shares: 60,000
Up 26% over 12 months, Thor Industries Inc., a recreational vehicle company, has a market cap of $2.81 billion; its shares trade with a P/E ratio of 18.40. The dividend yield is 1.50%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his position by 57.81%, selling 82,200 shares at an average price of $53.04 per share, losing 0.6%.
The current share price is around $51.80, with a change from average down 2%.
Across five quarters, Robert Olstein averaged a gain of 36% buying 143,200 shares at an average price of $38.85 per share. Selling, he averaged a loss of 0% on 83,200 shares at an average price of $52.90 per share.
Check out other active gurus in the third quarter of 2013 and recent insider trading.
Track historical pricing, revenue and net income:
Cisco Systems Inc. (CSCO): Reduced
Impacts Portfolio: -0.62%
Current Shares: 245,000
Up 35% over 12 months, Cisco Systems Inc. has a market cap of $128.2 billion; its shares trade with a P/E ratio of 12.90. The dividend yield is 2.70%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his position by 39.05%, selling 157,000 shares at an average price of $24.82 per share, taking a loss of 3.7%.
The current share price is around $23.82, with a change from average down 4%.
Across a five-year history of mostly gaining quarters, Robert Olstein averaged a gain of 20% buying 581,300 shares at an average price of $19.88 per share. Selling, he averaged a gain of 25% on 1,547,100 shares at an average price of $19.07 per share.
Check out loads of gurus trading CSCO in the third quarter of 2013, and recent insider selling.
Track historical pricing, revenue and net income:
Harman International Industries Inc. (HAR): Reduced
Impacts Portfolio: -0.58%
Current Shares: 129,000
Up 114% over 12 months, Harman International Industries Inc., a consumer electronics company, has a market cap of $5.5 billion; its shares trade with a P/E ratio of 39.70. The dividend yield is 1.10%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his HAR position by 33.85%, selling 66,000 shares at an average price of $62.45 per share, gaining 30.2%.
The current share price is around $79.76, with a change from average up 28%.
Across a five-year history, Robert Olstein averaged a gain of 136% buying 495,800 shares at an average price of $34.47 per share. He averaged a 74% gain on 366,800 shares sold at an average price of $46.63 per share.
Check out three gurus reducing their HAR positions in the third quarter of 2013, and recent insider selling.
Track historical pricing, revenue and net income:
Check out the complete portfolio update of Robert Olstein.
As of Nov. 13, 2013, The Olstein All Cap Value Fund (OFALX) shows C shares with NAV up $0.04 at $18.17 and a POP of $18.17. The Olstein Strategic Opportunities Fund (OFSAX) lists A shares with NAV up $0.07 at $17.58, and a POP at $18.60.
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Robert Olstein updated portfolio lists 123 stocks, 8 of them new, and a total value at $652 million. The quarter-over-quarter turnover is 10%. Olstein’s portfolio is weighted with consumer cyclical at 22.7%, industrials at 22.7 and technology at 17.4%. He is averaging a return of 20.13% over 12 months.
Here’s a look at Olstein’s highest-impact third quarter reductions, starting with Microsoft Corporation, recently reporting a 16% increase in revenue over the same quarter a year ago, with revenue of $18.53 billion for the quarter ended September 30, 2013. The company had quarterly net income of $5.24 billion and diluted earnings of $0.62 per share.
Microsoft Corporation (MSFT): Reduced
Impacts Portfolio: -0.74%
Current Shares: 140,000
Up 38% over 12 months, Microsoft Corporation has a market cap of $309.71 billion; its shares trade with a P/E ratio of 13.90. The dividend yield is 2.50%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his MSFT position by 49.64%, selling 138,000 shares at an average price of $32.90 per share, gaining 12.8%.
The current share price is around $37.10, with a change from average up 13%.
Across a five-year history, Robert Olstein averaged a gain of 55% buying 458,400 shares at an average price of $23.93 per share. Selling, he averaged a gain of 47% on 1,291,700 shares at an average price of $25.26 per share.
Check out the third quarter trading of MSFT and recent insider selling.
Track historical pricing, revenue and net income:
Thor Industries Inc. (THO): Reduced
Impacts Portfolio: -0.64%
Current Shares: 60,000
Up 26% over 12 months, Thor Industries Inc., a recreational vehicle company, has a market cap of $2.81 billion; its shares trade with a P/E ratio of 18.40. The dividend yield is 1.50%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his position by 57.81%, selling 82,200 shares at an average price of $53.04 per share, losing 0.6%.
The current share price is around $51.80, with a change from average down 2%.
Across five quarters, Robert Olstein averaged a gain of 36% buying 143,200 shares at an average price of $38.85 per share. Selling, he averaged a loss of 0% on 83,200 shares at an average price of $52.90 per share.
Check out other active gurus in the third quarter of 2013 and recent insider trading.
Track historical pricing, revenue and net income:
Cisco Systems Inc. (CSCO): Reduced
Impacts Portfolio: -0.62%
Current Shares: 245,000
Up 35% over 12 months, Cisco Systems Inc. has a market cap of $128.2 billion; its shares trade with a P/E ratio of 12.90. The dividend yield is 2.70%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his position by 39.05%, selling 157,000 shares at an average price of $24.82 per share, taking a loss of 3.7%.
The current share price is around $23.82, with a change from average down 4%.
Across a five-year history of mostly gaining quarters, Robert Olstein averaged a gain of 20% buying 581,300 shares at an average price of $19.88 per share. Selling, he averaged a gain of 25% on 1,547,100 shares at an average price of $19.07 per share.
Check out loads of gurus trading CSCO in the third quarter of 2013, and recent insider selling.
Track historical pricing, revenue and net income:
Harman International Industries Inc. (HAR): Reduced
Impacts Portfolio: -0.58%
Current Shares: 129,000
Up 114% over 12 months, Harman International Industries Inc., a consumer electronics company, has a market cap of $5.5 billion; its shares trade with a P/E ratio of 39.70. The dividend yield is 1.10%.
Guru Action: As of Sept. 30, 2013, Robert Olstein reduced his HAR position by 33.85%, selling 66,000 shares at an average price of $62.45 per share, gaining 30.2%.
The current share price is around $79.76, with a change from average up 28%.
Across a five-year history, Robert Olstein averaged a gain of 136% buying 495,800 shares at an average price of $34.47 per share. He averaged a 74% gain on 366,800 shares sold at an average price of $46.63 per share.
Check out three gurus reducing their HAR positions in the third quarter of 2013, and recent insider selling.
Track historical pricing, revenue and net income:
Check out the complete portfolio update of Robert Olstein.
As of Nov. 13, 2013, The Olstein All Cap Value Fund (OFALX) shows C shares with NAV up $0.04 at $18.17 and a POP of $18.17. The Olstein Strategic Opportunities Fund (OFSAX) lists A shares with NAV up $0.07 at $17.58, and a POP at $18.60.
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