Guru Richard Snow (Trades, Portfolio) added to his stakes in seven companies when stock trading resumed the day after Monday’s Martin Luther King holiday.
When seeking investment opportunities, Snow has a reputation for acquiring shares in companies that are financially strong with prices that have been depressed because of temporary or intermediate term difficulties.
That sounds like an investing philosophy that is tailor-made for energy stocks these days, and, in fact, a few of Snow’s stock transactions on Tuesday were in the energy sector.
With his purchase, the founder, president and CIO of Snow Capital Management of Pennsylvania made PBF Energy Inc (PBF, Financial), a New Jersey-based petroleum refiner and supplier, the largest single stake (by number of shares) in his portfolio.
But Snow didn’t limit his buys to energy companies. Two other purchases – in Tidewater Inc (TDW, Financial), a New Orleans-based petroleum service company, and Carbo Ceramics (CRR, Financial), an oilfield services technology company based in Houston – did fit in that category, but the rest did not.
As a result of Snow’s purchase, Tidewater is now the fifth-largest stake in his portfolio.
Last week, Carbo Ceramics hit a new 52-week low.
Snow’s other stock purchases on Tuesday were in Abercrombie & Fitch Co (ANF, Financial), Atlas Air Worldwide Holdings Inc (AAWW, Financial), Big Lots Inc (BIG, Financial) and Titan International Inc (TWI, Financial).
Based on its influence on Snow’s portfolio, the investment in Abercrombie & Fitch, the Ohio-based casual wear retailer, was Snow’s most significant. That purchase had a 3.18% impact on the portfolio.
New York-based Atlas Air Worldwide Holdings is the parent company of Atlas Air, a provider of aircraft services. On Monday, it was reported that six ratings firms have given Atlas Air Worldwide a *hold* rating.
Fifteen analysts have given Big Lots, another Ohio-based retailer, a *buy* rating.
Titan International, an Illinois-based tire manufacturer, has underperformed the S&P 500 by 5.23% in the last four weeks.
Learn more about Guru Trades as a Premium Member. Not a Premium Member of GuruFocus? Try it free for 7 days.
