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Arnold Van Den Berg Trims Enstar Group, Exits Orion Group

- By Tiziano Frateschi

Value investor Arnold Van Den Berg (Trades, Portfolio) founded Century Management in 1974. His investment philosophy is based on lessons learned from Benjamin Graham. During the second quarter, he sold shares of the following stocks.


The Enstar Group Ltd. (ESGR) was trimmed by 24.43%. The trade had an impact of -0.59% on the portfolio.

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The insurance company has a market cap of $4.59 billion and an enterprise value of $4.35 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. While the return on equity of 4.14% is outperforming the sector, the return on assets of 0.90% is underperforming 52% of companies in the Global Insurance - Diversified industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 1.87 is below the industry median of 10,000.

The company's largest shareholder among the gurus is Chuck Akre (Trades, Portfolio) with 6.14% of outstanding shares, followed by Hotchkis & Wiley with 3.09% and Diamond Hill Capital (Trades, Portfolio) with 1.31%.

The Orion Group Holdings Inc. (ORN) position was closed. The transaction had an impact of -0.58% on the portfolio.

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The engineering and construction company has a market cap of $257.71 million and an enterprise value of $340.26 million.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 4.70% and return on assets of 2.53% are underperforming 69% of companies in its industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.79.

With 1.82% of outstanding shares, Jim Simons (Trades, Portfolio)' Renaissance Technologies is the company's largest guru shareholder, followed by Charles Brandes (Trades, Portfolio) with 0.37% and Chuck Royce (Trades, Portfolio) with 0.01%.

The guru reduced his Allegheny Technologies Inc. (ATI) position by 1.59%, impacting the portfolio by -0.09%.

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The company produces specialty metals. It has a market cap of $3.27 billion and an enterprise value of $4.82 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 0.68% and return on assets of 0.22% are underperforming 80% of companies in the Global Metal Fabrication industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.08 is below the industry median of 0.89.

The largest guru shareholder of the company is Barrow, Hanley, Mewhinney & Strauss with 3.04% of outstanding shares, followed by First Eagle Investment (Trades, Portfolio) with 1.44%, Royce with 0.87% and Mario Gabelli (Trades, Portfolio) with 0.65%.

The Berkshire Hathaway Inc. (BRK-B) position was trimmed by 0.77%. The trade had an impact of -0.06% on the portfolio.

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The insurance conglomerate has a market cap of $515.85 billion and an enterprise value of $505.19 billion.

GuruFocus gives the company a profitability and growth rating of 4 out of 10. The return of equity of 14.28% and return on assets of 6.86% are outperforming 66% of companies in the Global Insurance - Diversified industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.67 is below the industry median of 10,000.

Bill Gates (Trades, Portfolio) is the company's largest guru shareholder with 2.16% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.13% and Tom Russo (Trades, Portfolio) with 0.1%.

The Discovery Inc. (DISCK) holding was reduced 1.86%, impacting the portfolio by -0.06%.

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The media and entertainment company has a market cap of $14.28 billion and an enterprise value of $33.91 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of -11.32% and return on assets of -2.76% are underperforming 78% of companies in the Global Media - Diversified industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.82.

The company's largest guru shareholder is Hotchkis & Wiley with 4.98% of outstanding shares, followed by John Paulson (Trades, Portfolio) with 1.91% and Steven Cohen (Trades, Portfolio) with 0.31%.

Disclosure: I do not own any stocks mentioned in this article.

This article first appeared on GuruFocus.