Arnold Van Den Berg Makes One Buy and Three Large Increases in 3rd Quarter

- By Holly LaFon

Century Management founder Arnold Van Den Berg (Trades, Portfolio) added one new stock to his portfolio and made significant increases to his positions in three others in the third quarter, he reported Monday.


Century Management is based in Austin, Texas, and has $1.026 billion in assets under management. Van Den Berg, a Holocaust survivor, started the fund in 1974, focusing on buying stocks at discounts to what he believes they are worth.

The investor's CM Advisors Fund has had a tremendous year, rising 27.5%, beating its Russell 3000 Value Index's 10.4% gain. The performance was driven largely by his early bets on industrials, oil and gas, and gold miners, which have outperformed the market year to date and occupy some of the largest space in his portfolio. Van Den Berg's top holding, industrial products company Allegheny Technologies (ATI), has gained 48.3% year to date, while his third-largest in VanDeck Vectors Junior Gold Miners (GDXJ) rose 98.2%.

As of the September quarter, Van Den Berg has allocated 24.9% of his portfolio to industrials, 15.8% to financial services and 15.6% to energy as his biggest sector weightings.

His new stock for the quarter was Manitowoc Co. Inc. (MTW), and his largest increased positions were Atwood Oceanics Inc. (ATW), Pioneer Energy Services Corp. (PES) and Dynamic Materials Corp. (BOOM).

Manitowoc Co. Inc.

Van Den Berg bought 1,121,520 shares, representing 0.87% of his portfolio. Its quarterly price averaged $5.00.

Manitowoc Co. Inc. has a market cap of $625.980 million; its shares were traded around $4.55 with and P/S ratio of 0.23. The trailing 12-month dividend yield of Manitowoc Co. Inc. stocks is 1.76%. The forward dividend yield of Manitowoc Co. Inc. stocks is 1.8%. Manitowoc Co. Inc. had an annual average earnings growth of 1% over the past five years.

Atwood Oceanics Inc. (ATW)

Van Den Berg increased his position by 51.81%, or 634,392 shares, to 1,858,920 shares. Its quarterly price averaged $9, and the position represents 2.61% of his portfolio.

Atwood Oceanics Inc. has a market cap of $595.53 million; its shares were traded around $9.19 with a P/E ratio of 1.43 and P/S ratio of 0.49. The trailing 12-month dividend yield of Atwood Oceanics Inc. stocks is 3.52%. Atwood Oceanics Inc. had an annual average earnings growth of 21.9% over the past 10 years. GuruFocus rated Atwood Oceanics Inc. the business predictability rank of 3.5-star.

Pioneer Energy Services Corp. (PES)

Van Den Berg increased his position by 23.3%, or 174,050 shares, bringing his total position to 921,135 shares. Its share price averaged $4, and it represented 0.6% of his portfolio.

Pioneer Energy Services Corp. has a market cap of $273.290 million; its shares were traded around $4.20 with and P/S ratio of 0.77.

Dynamic Materials Corp. (BOOM)

Van Den Berg increased his position by 13.04%, or 102,221 shares, bringing his total position to 885,949 shares. Its share price averaged $11, and it represented 1.53% of his portfolio.

Dynamic Materials Corp. has a market cap of $144.860 million; its shares were traded around $10.01 with and P/S ratio of 0.87. The trailing 12-month dividend yield of Dynamic Materials Corp. stocks is 0.79%. The forward dividend yield of Dynamic Materials Corp. stocks is 0.8%.

See Van Den Berg's portfolio here. Start a free 7-day trial of Premium Membership to GuruFocus.

This article first appeared on GuruFocus.