azValor Iberia Fund Buys Gas Natural and Cementos Molins in 4th Quarter

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- By Holly LaFon

In the fourth quarter, azValor Asset Management's Iberia FL portfolio added two new stocks, Gas Natural SDG SA (GAS.MC) and Cementos Molins SA (XMCE:CMO), the firm reported Thursday.

azValor is a Spain-based investment manager run by Alvaro Guzman de Lazaro and Fernando Bernad, which was founded around two years ago. The firm has since enjoyed a 36% return in its Iberian portfolio, as of January. azValor is based on a long-term vision for investments and stocks that are priced below their intrinsic value.


The Iberian fund focuses on stocks from Spain and Portugal and had only 5% in cash at third quarter-end. azValor's managers believe the Iberian fund has upside potential of 42.6%, they said in a Jan. 8 announcement.

The new buys

Gas Natural SDG SA (GAS.MC)

azValor purchased 138,026 shares of Gas Natural SDG, whose shares traded around $19 euros each in the fourth quarter. The holding represented about 1.95% of the stock portfolio.

Gas Natural SDG SA has a market cap of 17.91 billion euros; its shares were traded around 17.91 euros with a P/E ratio of 14.80 and P/S ratio of 0.74. The trailing 12-month dividend yield of Gas Natural SDG SA stocks is 3.69%. The forward dividend yield of Gas Natural SDG SA stocks is 3.69%. Gas Natural SDG SA had an annual average earnings growth of 1.70% over the past 10 years.

Cementos Molins SA (XMCE:CMO)

azValor purchased 51,472 shares of Cementos Molins stock, which traded on average for 9 euros per share. The holding represented 0.32% of the portfolio.

Cementos Molins SA has a market cap of 538.23 million euros; its shares were traded around 8.49 euros with a P/E ratio of 6.85 and P/S ratio of 0.85. Cementos Molins SA had an annual average earnings growth of 0.60% over the past five years.

Adds

Euskaltel SA (EKT.MC)

azValor added 812,064 shares of Euskaltel, representing a 1,775.8% increase to 857,794 shares. The holding represented 4.27% of the stock portfolio.

Euskaltel SA has a market cap of 1.03 billion euros; its shares were traded around 6.81 euros with a P/E ratio of 19.44 and P/S ratio of 1.85. The trailing 12-month dividend yield of Euskaltel SA stocks is 4.95%. The forward dividend yield of Euskaltel SA stocks is 3.73%.

Fomento de Construcciones y Contratas SA (FCC.MC)

azValor added 212,868 shares of the company, representing an 81.89% increase to 472,538 shares. The holding represented 2.99% of the stock portfolio.

Fomento de Construcciones y Contratas SA has a market cap o $3.38 billion euros; its shares were traded around 8.92 euros with a P/E ratio of 21.23 and P/S ratio of 0.57.

Telefonica (TEF.MC)

azVAlor added 278,193 shares of Telefonica, representing a 78.28% increase to 633,579 shares. The holding represented 3.77% of the stock portfolio.

Telefonica SA has a market cap of 39.75 billion euros; its shares were traded around 7.66 euros with a P/E ratio of 16.63 and P/S ratio of 0.77. The trailing 12-month dividend yield of Telefonica SA stocks is 5.22%. The forward dividend yield of Telefonica SA stocks is 5.22%.

Melia Hotels International SA (MEL.MC)

azValor purchased 206,804 shares of Melia Hotels International, reflecting a 67.63% increase to 512,609 shares. The holding represented 4.32% of the stock portfolio.

Melia Hotels International SA has a market cap of 2.48 billion euros; its shares were traded around 10.87 euros with a P/E ratio of 20.51 and P/S ratio of 1.32. The trailing 12-month dividend yield of Melia Hotels International SA stocks is 1.21%. The forward dividend yield of Melia Hotels International SA stocks is 1.21%. Melia Hotels International SA had an annual average earnings growth of 6.8% over the past five years.

Acerinox SA (ACX.MC)

azValor purchased 100,761 shares of Acerinox, representing a 57.5% increase to 276,007 shares. The holding represented 2.41% of the stock portfolio.

Acerinox SA has a market cap of 3.05 billion euros; its shares were traded around 11.07 euros with a P/E ratio of 15.58 and P/S ratio of 0.71. The trailing 12-month dividend yield of Acerinox SA stocks is 4.07%. The forward dividend yield of Acerinox SA stocks is 4.07%. Acerinox SA had an annual average earnings growth of 3.5% over the past five years.

Sonae Capital SGPS SA (SONC.LS)

azValor purchased 1,726,691 shares of Sonae Capital SGPS, representing a 55.28% increased to 4,858,427 shares. The holding represented 3.17% of the stock portfolio.

Sonae Capital SGPS SA has a market cap of 254.044 million euros; its shares were traded around 1.04 euros with a P/E ratio of 51.80 and P/S ratio of 1.31. The trailing 12-month dividend yield of Sonae Capital SGPS SA stocks is 9.65%. The forward dividend yield of Sonae Capital SGPS SA stocks is 9.65%.

Coca-Cola European Partners PLC (CCE.MC)

azValor purchased 55,218 shares of Coca-Cola European Partners PLC, representing a 41.49% portfolio increase. The holding represented 4.51% of the portfolio. The fourth quarter average price was 34 euros per share.

Coca-cola European Partners PLC has a market cap of 14.87 billion euros; its shares were traded around 30.64 euros with a P/E ratio of 20.01 and P/S ratio of 1.46. The trailing 12-month dividend yield of Coca-Cola European Partners PLC stocks is 2.62%. The forward dividend yield of Coca-Cola European Partners PLC stocks is 2.74%.

Jeronimo Martins SGPS SA (JMT.LS)

azValor purchased 29,457 shares of Jeronimo Martins SGPS, representing an 18.22% portfolio increase to 191,111 shares. The holding represented 2.27% of the portfolio. The fourth-quarter average share price was 16 euros per share.

Jeronimo Martins SGPS SA has a market cap of 10.63 billion euros; its shares were traded around 16.92 euros with a P/E ratio of 28.20 and P/S ratio of 0.67. The trailing 12-month dividend yield of Jeronimo Martins SGPS SA stocks is 3.58%. The forward dividend yield of Jeronimo Martins SGPS SA stocks is 3.58%. Jeronimo Martins SGPS SA had an annual average earnings growth of 12.9% over the past 10 years.

See azValor's Iberia Fl portfolio here.

This article first appeared on GuruFocus.


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