David Dreman, chairman and chief investment officer of Dreman Value Management, LLC has 289 stocks in its portfolio. The total market value of its holding is around $4.28 billion as of August 14, 2012. The firm sold out 19 stocks and purchased 21 new stocks.
Dreman purchased additional shares across 155 stocks, and reduced its holdings in 92 stocks. Its top 10 holdings accounts for 9.38 percent.
Its top five new major positions include Ingram Micro Inc. (NYSE:IM) 0.71 percent; Ingredion Incorporated (NYSE:INGR) 0.65 percent; Steel Dynamics, Inc. (NASDAQ:STLD) 0.53 percent; St. Jude Medical Inc. (NYSE:STJ) 0.43 percent and Foster Wheeler AG (Nasdaq:FWLT) 0.41 percent.
ngram Micro Inc. (NYSE:IM) is a global broad-based IT distributor, providing sales and profitability opportunities for its vendors and resellers. The company’s second quarter revenue was $8.78 billion, 3 percent higher than its $8.75 billion revenue in 2011. Ingram also posted 39 cents per share earnings during the second quarter this year, 8.6 percent higher than the 36 cents per share average analyst’s expectation. Ingram has a $2.34 billion market capitalization.
Yesterday, the company announced its expansion in the Middle East and North Africa, and acquisition of the Dubai-based Information Technology firm, Aptec Holdings Ltd., which provides products and solutions for data center, storage security, networking, and software categories.
Ingram Micro Electronics’ stock price after the trading at New York Stock Exchange was $15.61 per share on Tuesday, August 14. Dreman holds 1,743,932 shares of Ingram Micro Electronics.
Based on its 13F Filing with the Securities and Exchange Commission (SEC), its top five stock holdings include NCR Corporation (NYSE:NCR) 1.07 percent; Associated Banc-Corp (NASDAQ:ASBC) 1.01 percent; Arris Group Inc. (NASDAQ:ARRS); 0.99 percent Hospitality Properties Trust (NYSE:HPT) 0.93 percent; and Washington Federal Inc. (NASDAQ:WAFD) 0.93 percent.
NCR Corporation (NYSE:NCR) manufactures automated teller machines and payment systems. The company submitted a regulatory filing today stating allegations from a “purported whistleblower” that it committed business practices violating the Foreign Corrupt Practices Act. NCR’s stock value declined within the past two years. The company has a $3.60 billion market cap and its stock price was down by 9.83 percent to $22.65 per share, after closing of trading today.
Associated Banc-Corp (NASDAQ:ASBC)’ BOD recently approved a regular quarterly cash dividend of $0.05 per common share. In addition, the company also announced a regular quarterly cash dividend of $0.50 per depositary share, on Associated Banc-Corp’s 8.00% Series B Perpetual Preferred Stock. Dividends will released to shareholders of record at the close of business on September 4, 2012. Actual payment of dividends will be on September 17, 2012.
As of June 30, Dreman closed its holdings on Corn Products International Inc. (NYSE:CPO), the company’s name was changed to Ingredion Incorporated during its annual stockholders meeting in May 2012, and J2 Global Inc (NASDAQ:JCOM); the company provides cloud-based, business critical communications and storage messaging service.
The company also closed its holdings on OM Group (NYSE:OMG), a global supplier of specialty chemicals, advanced materials, and unique technologies; Sonic Corp. (Nasdaq:SONC), the largest drive-in restaurant business in the United States, and Minefinders Corp. Ltd. (NYSE:MFN), a company engaged in mining precious metals, such as gold and silver in Northern Mexico.
Some of the 21 new stocks bought by Dreman include:
- Fedearted Investors Inc (NYSE:FII) 1,187, 705 shares; As of June 30, the company has $355.9 billion assets under management. Fedearted Investors Inc (NYSE:FII) is one of the largest investment managers in the United States.
- Endurance Specialty Holdings Ltd (NYSE:ENH) 597,035 shares; Last week the board of directors of the company approved a quarterly dividend of 31 cents per ordinary share, 48 cents per series A preferred shares and 47 cents per series B preferred shares
- The Bank of New York Mellon Corporation (NYSE:BK) 821,579 shares; Warren Buffet’s Bershire Hathaway tripled its stake in the bank during the second quarter of the fiscal year
- John Wiley & Sons Inc (NYSE:JW-A) 359,716 shares; the company sold Frommers brand of travel books to Google Inc (NASDAQ:GOOG)
- Hewlett-Packard Company (NASDAQ:HPQ) 720,087 shares; the company today announced its virtualization software solutions that simplify, automate, and secure virtual machines and data in cloud environments. Other value funds are bullish on HPQ, although Jim Chanos has called the stock a value trap.