Here��s why markets are worried about Italian politics �� again

Italy��s politicians didn��t get a three-day weekend, but instead stayed active and helped spark selling for stocks and other riskier assets.

Investors on Tuesday are worried about the potential for another Italian election within a few months. In particular, they��re worried a win for populist parties could lead to the euro zone��s third-biggest economy leaving the shared currency �� which would represent quite a shakeup to Europe��s status quo.

That election looks to be in the cards, as an attempt to form a caretaker government led by International Monetary Fund veteran Carlo Cottarelli faces resistance.

Cottarelli was put into that role on Monday by Italian President Sergio Mattarella, who had essentially blocked a coalition government of two big antiestablishment parties �� the 5 Star Movement and the League. The president on Sunday vetoed the appointment of a euroskeptic economy minister, Paolo Savona, who had been backed by the populist coalition.

Now the 5 Star and League appear to be spurning Cottarelli, making him unlikely to win a vote of confidence in parliament. Instead, he likely will lead a caretaker government as prime minister only until another general election is called, possibly for September. Italians last went to the polls only a few months ago, in March.

Matteo Salvini, the League party��s head, is already framing the ballot as a way for voters to show their support for leaving the euro.

��It won��t be an election,�� Salvini said Sunday, according to a Wall Street Journal report. ��It will be a referendum between Italy and those on the outside who want us to be a servile, enslaved nation on our knees.��

Why it matters to European and U.S. investors

Analysts have been warning that an Italian effort to abandon the shared currency could rattle not just European investors, but also U.S. markets SPX, -0.24% �.

��Even an Italian populist government��s failed attempt to ditch the euro would bring a halt to not only the ��euroboom,�� but also the process of U.S. monetary normalization, with the market reaction comparable to the eurozone debt crisis,�� Oxford Economics analysts Jamie Thomson and Nicola Nobile said in a recent note.

Other analysts suggest fears about a ��Quitaly�� or ��Italexit�� scenario may be overblown.

��Personally, I don��t think Italy will leave the euro,�� said Marshall Gittler, chief strategist at ACLS Global, in a note Tuesday. ��According to the European Commission��s Eurobarometer survey, support for the euro in Italy has never been below 58%, and most recently was 59%, with only 31% opposed.��

Check out: 4 ways the ECB is preventing an Italian rerun of the euro crisis �� for now

But Gittler still sounds bearish on the unit: ��Nonetheless, currencies have to price in risk, and Italian politics is the big risk nowadays. I think EUR is likely to remain weak until things have settled down there.��

How are markets moving

The euro EURUSD, -0.5420% recently changed hands at $1.1572 , as it touches levels last seen in November.

Italy��s FTSE MIB stock benchmark I945, -2.64% was down nearly 3% to 21,324 on Tuesday, falling to levels last seen in July 2017. It has tumbled 11% so far in May, flipping into the red for 2018 and cutting its 12-month gain to 2.4%.

The pan-European Stoxx Europe 600 Index SXXP, -1.28% was down 1.3% to 384.77 on Tuesday. It��s down 1.2% so far this year and off by 1.7% over the past 12 months.

The yield on the 10-year Italian bond TMBMKIT-10Y, +15.79% was recently at 2.942%. That represents the highest level since 2014, but it��s still far from it peak above 7% hit in 2011 amid the eurozone debt crisis.

Read: In topsy-turvy Italian markets, sovereign debt seen as riskier than corporate bonds

U.S. stock futures were losing ground, with Dow Jones Industrial Average YMM8, -0.63% and S&P 500 ESM8, -0.63% falling by about 0.9%.

Victor Reklaitis

Victor Reklaitis is a London-based markets writer for MarketWatch. Follow him on Twitter @VicRek.

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US Bancorp DE Increases Stake in Knight-Swift Transportation Holdings Inc (KNX)

US Bancorp DE lifted its stake in shares of Knight-Swift Transportation Holdings Inc (NYSE:KNX) by 7.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,734 shares of the transportation company’s stock after purchasing an additional 4,794 shares during the quarter. US Bancorp DE’s holdings in Knight-Swift Transportation were worth $3,300,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. increased its position in Knight-Swift Transportation by 79.5% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,007 shares of the transportation company’s stock valued at $131,000 after acquiring an additional 1,332 shares during the period. Cigna Investments Inc. New acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $206,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $231,000. Atria Investments LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $254,000. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Knight-Swift Transportation in the 4th quarter valued at approximately $278,000. Institutional investors and hedge funds own 80.31% of the company’s stock.

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Several analysts recently commented on KNX shares. Zacks Investment Research upgraded Knight-Swift Transportation from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research report on Wednesday, January 31st. Cowen raised their target price on Knight-Swift Transportation from $38.00 to $46.00 and gave the company a “market perform” rating in a research report on Wednesday, January 31st. Buckingham Research raised their target price on Knight-Swift Transportation from $57.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Morgan Stanley raised their target price on Knight-Swift Transportation from $50.00 to $60.00 and gave the company an “overweight” rating in a research report on Wednesday, January 31st. Finally, Credit Suisse Group raised their target price on Knight-Swift Transportation from $46.00 to $48.00 and gave the company a “neutral” rating in a research report on Wednesday, January 31st. Seven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $52.22.

Shares of NYSE KNX opened at $40.45 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.45 and a quick ratio of 1.45. The firm has a market cap of $7.21 billion, a price-to-earnings ratio of 29.31, a PEG ratio of 1.18 and a beta of 1.72. Knight-Swift Transportation Holdings Inc has a 1 year low of $32.88 and a 1 year high of $51.94.

Knight-Swift Transportation (NYSE:KNX) last issued its quarterly earnings results on Wednesday, April 25th. The transportation company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.04. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.30 billion. Knight-Swift Transportation had a return on equity of 5.75% and a net margin of 13.22%. The firm’s quarterly revenue was up 368.7% on a year-over-year basis. During the same period last year, the company posted $0.18 EPS. equities research analysts forecast that Knight-Swift Transportation Holdings Inc will post 2.29 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 27th. Stockholders of record on Friday, June 1st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Thursday, May 31st. Knight-Swift Transportation’s dividend payout ratio is presently 17.39%.

In other news, COO Kevin Quast sold 4,508 shares of the firm’s stock in a transaction on Thursday, May 17th. The stock was sold at an average price of $39.98, for a total transaction of $180,229.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Kevin P. Knight sold 69,217 shares of the firm’s stock in a transaction on Wednesday, May 9th. The stock was sold at an average price of $40.04, for a total value of $2,771,448.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 98,794 shares of company stock valued at $3,954,288. Corporate insiders own 27.50% of the company’s stock.

Knight-Swift Transportation Company Profile

Knight-Swift Transportation Holdings Inc, together with its subsidiaries, provides truckload transportation and logistics services in the United States, Mexico, and Canada. The company operates through six segments: Knight Trucking, Knight Logistics, Swift Truckload, Swift Dedicated, Swift Refrigerated, and Swift Intermodal.

LendingTree (TREE) Stake Decreased by Rhumbline Advisers

Rhumbline Advisers decreased its position in LendingTree (NASDAQ:TREE) by 13.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,988 shares of the financial services provider’s stock after selling 2,252 shares during the period. Rhumbline Advisers’ holdings in LendingTree were worth $4,590,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Public Employees Retirement Association of Colorado purchased a new position in LendingTree in the 4th quarter worth $153,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in LendingTree by 34.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 639 shares of the financial services provider’s stock worth $218,000 after acquiring an additional 165 shares during the last quarter. Polen Capital Management LLC purchased a new position in LendingTree in the 4th quarter worth $227,000. Xact Kapitalforvaltning AB purchased a new position in LendingTree in the 4th quarter worth $234,000. Finally, Shelton Capital Management purchased a new position in LendingTree in the 4th quarter worth $244,000. Institutional investors own 78.55% of the company’s stock.

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Shares of LendingTree stock opened at $259.85 on Friday. The company has a quick ratio of 3.33, a current ratio of 3.33 and a debt-to-equity ratio of 0.73. LendingTree has a twelve month low of $154.60 and a twelve month high of $404.40. The stock has a market capitalization of $3.40 billion, a P/E ratio of 86.04, a price-to-earnings-growth ratio of 2.09 and a beta of 1.77.

LendingTree (NASDAQ:TREE) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $1.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.02). LendingTree had a net margin of 6.04% and a return on equity of 11.81%. The business had revenue of $181.00 million during the quarter, compared to analysts’ expectations of $174.13 million. During the same quarter in the prior year, the firm earned $0.85 EPS. LendingTree’s revenue for the quarter was up 36.6% on a year-over-year basis. analysts forecast that LendingTree will post 3.37 earnings per share for the current fiscal year.

LendingTree declared that its Board of Directors has authorized a stock buyback plan on Thursday, February 22nd that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

In other LendingTree news, Director G Kennedy Thompson purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was purchased at an average price of $248.13 per share, for a total transaction of $248,130.00. Following the purchase, the director now directly owns 11,252 shares in the company, valued at $2,791,958.76. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven Ozonian sold 500 shares of LendingTree stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $360.00, for a total value of $180,000.00. Following the completion of the transaction, the director now owns 8,879 shares of the company’s stock, valued at approximately $3,196,440. The disclosure for this sale can be found here. In the last 90 days, insiders sold 232,047 shares of company stock valued at $68,655,060. 20.50% of the stock is owned by company insiders.

TREE has been the subject of a number of recent research reports. SunTrust Banks reduced their price objective on LendingTree to $310.00 and set a “hold” rating for the company in a research note on Friday, April 27th. BidaskClub upgraded LendingTree from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 17th. Stephens lifted their price objective on LendingTree from $385.00 to $420.00 and gave the company an “overweight” rating in a research note on Monday, March 19th. They noted that the move was a valuation call. ValuEngine lowered LendingTree from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Finally, Oppenheimer lifted their price objective on LendingTree from $370.00 to $400.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Three research analysts have rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $339.57.

LendingTree Company Profile

LendingTree, Inc, through its subsidiary, LendingTree, LLC, operates an online loan marketplace for consumers seeking loans and other credit-based offerings in the United States. Its mortgage products comprise purchase and refinance products. The company also provides information, tools, and access to various conditional loan offers for non-mortgage products, including auto loans, credit cards, home equity loans, personal loans, reverse mortgages, small business loans, and student loans.

Want to see what other hedge funds are holding TREE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LendingTree (NASDAQ:TREE).

TCF Financial: M&A Target With Improving Fundamentals

TCF Financial (TCF) has recently released its financial results for the first quarter. The numbers were strong across the board and management raised FY18 guidance for several metrics. Despite a solid run, we still think that TCF looks attractive, especially given its outstanding revenue generation.

Back To Growth

Last November, TCF announced that it would discontinue all indirect auto loan originations. We believe it was a game-changer for the bank as its auto loan portfolio was a major concern for investors due to sub-par credit quality metrics. In addition, the exiting of the auto business should lead to a more conservative funding profile and a lower cost/income ratio. In our previous article on TCF, we also illustrated that the discontinuation of the auto would have a moderate impact on the bank's NIM.

In our view, the only negative outcome from the exiting of the auto was lower loan growth, given that TCF's auto book had been growing at a double-digit rate since 2013. However, management has already done a good job of replacing auto book with inventory finance loans.

Source: Company data

Even though inventory finance growth was partly driven by seasonal factors, TCF expects it to print at 8-10% range in the second quarter. Most importantly, the growth should come organically.

Brian Maass

We've continued to add other programs in previous years as well. So I would look at the majority of that increase, a lot of that increase that happened in Q1 is seasonal. So you should see a lot of that coming down from a reduction perspective. So when you are trying to think about what the 2Q level should be, I would guide you towards looking at 2Q of last year and then think about you know some level of 8% to 10% potential higher than that.

Source

As a result, while in terms of credit growth, TCF will most likely underperform its peers, the loan origination outlook has significantly improved as inventory finance will partially offset the ongoing run-off in the auto.

Source: Company data

Improved Margin Guidance

On the 1Q call, management raised its margin guidance. TCF had previously expected its NIM to decline in 2018. However, thanks to rising rates, the company now believes that the margin will stay flat or decline just by a couple of basis points in 2018.

You know I said that there would be some potential pressure on the margin over time meaning that that would build over time. However to the extent that we have interest rates going higher, you know as I said, there is a chance that those you know can offset it.

So if I was to stand back and look at, it's easier for me to kind of speak to at even on our full year guidance. Last year we were at $454 million for full year. I think there's a chance that these other offsetting factors and possibly even make it so that our net interest margin stays flat on a year-over-year basis or we'll only see a couple of basis points off on that.

Source

As noted earlier, the discontinuation of auto has had a moderate effect on the NIM. In fact, as shown below, auto finance has a lower yield compared to the group's total credit portfolio.

Source: Company data

One may argue that lower inventory finance growth in the second quarter could lead to margin pressure. While it is a valid point, we note that TCF has an asset-sensitive balance sheet. In fact, it is of the biggest beneficiaries of higher rates among the US regional banks. Variable- and adjustable-rate portfolios represent 46% of the company's credit book.

Source: Company data

Moreover, around 64% of TCF's loan book is expected to re-price in the next twelve months. In other words, we believe that the ongoing re-pricing of the bank's credit portfolio will more than offset weaker loan growth.

Source: TCF 10-Q

On the liabilities side, TCF enjoys a low-cost granular deposit base. Notably, 87% of the bank's deposit balances are consumer deposits. In addition, around 63% of the bank's deposits are low or no cost deposits. Thanks to such an attractive funding mix, TCF's deposit costs have increased by only 21% since the first quarter of 2015.

Source: Company data

This is a crucial competitive advantage in a rising interest rate environment.

Still An Attractive M&A Target

Most importantly, we believe TCF Financial remains an attractive takeover target, given its high-quality deposit base, an asset-sensitive balance sheet, and impressive revenue generation. As we have said in our prior articles, TCF has outstanding revenue generation capability, measured as total revenues against total assets.

Source: Bloomberg, Renaissance Research

Final Thoughts

It is also worth noting that TCF has recently increased its dividend from $0.30 to $0.60 per share. In addition, the company announced a $150mn buyback. Although the stock has had a good run, it is still reasonably valued. TCF is trading at 13x forward earnings, which we view as a very appealing multiple.

If you would like to receive our articles as soon as they are published, consider following us by clicking the "Follow" button beside our name at the top of the page. Thank you for reading.

Please note that we will provide full coverage of M&A activity in the US banking sector, including potential targets, for Banking on Financials subscribers. Sign up now to receive access to this exclusive coverage; we look forward to having you on board.

Disclosure: I am/we are long TCF.

I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Market Update: 154 stocks hit new 52-week lows; RCom, JP Associates jump 4-8%

The market was trading on a negative note on Tuesday morning, with the Nifty down 19�points at 10,496 and the Sensex down�51 points at 34,569.

The Nifty Realty index was in the red but stocks like Godrej Properties, HDIL, Indiabulls Real Estate and Unitech were trading 2-3 percent higher. DLF was trading close to 4 percent lower, while Sobha shed 2 percent.

JP Associates rose by�around�9 percent while Reliance Communications gained 4 percent.

Media stocks were also buzzing in morning trade, with Network18 up 3 percent and TV18 Broadcast up 3.5 percent. Sun TV Network and Den Networks were the other gainers.

related news Dabur loses over 1.5% after ED seizes assets worth Rs 21 crore from Pradip Burman Just Dial soars 8% after Q4 net profit grows 53% to Rs 39 crore

The top gainers among Nifty constituents were�Tata Motors, Dr Reddy's Labs, Titan Company, Bajaj Auto and Bajaj Finance.

The most actively traded stocks on the NSE were Just Dial, which jumped over 6 percent, followed by DHFL, Indiabulls Housing Finance, Ashok Leyland and Reliance Industries.

Some of the top gainers on BSE were JP Associates, Just Dial, Radico Khaitan, Reliance Communications and RAIN Industries.

The top losers on BSE were Mahanagar Gas, Bombay Burmah Trading Company, Dilip Buildcon, DLF and Shoppers Stop.

Berger Paints was the only stock that hit a fresh 52-week high in�morning trade.

On the other hand, 154 stocks hit new 52-week lows. These include Ajanta Pharma, BEML, Bharti Airtel, Can Fin Homes, Castrol India, Ceat, GMDC, Grasim Industries, Jet Airways, NBCC, UltraTech Cement and Vakrangee, among others.

The breadth of the market favoured advances, with�847 stocks advancing, 720 declining and�466 remaining unchanged. On BSE,�982 stocks advanced, 802 declined and�85 remained unchanged.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd

BMC Software Is Working With Goldman, Credit Suisse on Sale

BMC Software Inc. is working with advisers to weigh a sale, according to people familiar with the matter, five years after Bain Capital and Golden Gate Capital took it private in a $6.9 billion deal.

The information technology management provider has drawn interest from private equity firms including Thoma Bravo, which is considering acquiring it through portfolio company Compuware Corp., said the people, who asked not to be identified because the matter isn’t public. KKR & Co. has also expressed interest, they said.

Houston-based BMC is working with Goldman Sachs Group Inc. and Credit Suisse Group AG to seek a buyer, they said. No decision has been made and the firms could keep BMC.

Representatives for BMC, KKR, Goldman Sachs and Credit Suisse declined to comment. A representative for Thoma Bravo didn’t return calls for comment.

Buyout firms have announced three $1 billion-plus technology acquisitions this year, including takeovers of Mitel Networks Corp., VeriFone Systems Inc. and CommerceHub Inc. according to data compiled by Bloomberg. There were just four such deals in all of 2017 and 2016.

Bain and Golden Gate held talks last year with CA Inc. about taking the $15 billion company private and combining it with BMC, people familiar with the process said at the time. Those discussions ended after the group was unable to secure bank financing for the deal, a person familiar with the matter said in July.

BMC has about 6,000 employees in 30 countries, according to its website. The company helps customers including Vodafone Group Plc and Lockheed Martin Corp. manage their information technology systems.

Insider Selling: Brooks Automation (BRKS) Insider Sells 8,969 Shares of Stock

Brooks Automation (NASDAQ:BRKS) insider Maurice H. Tenney sold 8,969 shares of Brooks Automation stock in a transaction on Wednesday, May 16th. The stock was sold at an average price of $29.80, for a total transaction of $267,276.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of BRKS traded down $0.68 during trading hours on Friday, reaching $29.02. 595,551 shares of the company traded hands, compared to its average volume of 759,449. The firm has a market capitalization of $2.09 billion, a PE ratio of 23.40 and a beta of 0.99. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.34 and a quick ratio of 2.54. Brooks Automation has a 12-month low of $21.61 and a 12-month high of $34.77.

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Brooks Automation (NASDAQ:BRKS) last announced its quarterly earnings data on Tuesday, May 1st. The semiconductor company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.04. The firm had revenue of $207.26 million for the quarter, compared to analyst estimates of $199.44 million. Brooks Automation had a net margin of 15.55% and a return on equity of 15.97%. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.28 earnings per share. research analysts anticipate that Brooks Automation will post 1.46 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 22nd. Stockholders of record on Friday, June 1st will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date of this dividend is Thursday, May 31st. Brooks Automation’s dividend payout ratio (DPR) is presently 32.26%.

Several research firms have issued reports on BRKS. BidaskClub raised shares of Brooks Automation from a “buy” rating to a “strong-buy” rating in a report on Saturday, March 17th. Janney Montgomery Scott set a $35.00 price target on shares of Brooks Automation and gave the stock a “buy” rating in a report on Tuesday, January 23rd. B. Riley lifted their price target on shares of Brooks Automation from $34.00 to $38.00 and gave the stock a “buy” rating in a report on Friday, February 2nd. Zacks Investment Research lowered shares of Brooks Automation from a “hold” rating to a “sell” rating in a report on Wednesday, January 31st. Finally, Stephens reissued a “buy” rating and set a $36.00 price objective on shares of Brooks Automation in a report on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $34.00.

Several institutional investors and hedge funds have recently made changes to their positions in BRKS. Two Sigma Investments LP lifted its position in Brooks Automation by 25.1% during the fourth quarter. Two Sigma Investments LP now owns 28,645 shares of the semiconductor company’s stock valued at $683,000 after purchasing an additional 5,750 shares during the period. Fox Run Management L.L.C. lifted its position in Brooks Automation by 336.2% during the fourth quarter. Fox Run Management L.L.C. now owns 60,201 shares of the semiconductor company’s stock valued at $1,436,000 after purchasing an additional 46,401 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in Brooks Automation during the fourth quarter valued at $1,939,000. Glenmede Trust Co. NA lifted its position in Brooks Automation by 40.4% during the fourth quarter. Glenmede Trust Co. NA now owns 1,478,911 shares of the semiconductor company’s stock valued at $35,270,000 after purchasing an additional 425,807 shares during the period. Finally, Levin Capital Strategies L.P. acquired a new position in Brooks Automation during the fourth quarter valued at $226,000. 93.38% of the stock is currently owned by hedge funds and other institutional investors.

Brooks Automation Company Profile

Brooks Automation, Inc provides automation and cryogenic solutions for various applications and markets. It operates in two segments, Brooks Semiconductor Solutions Group and Brooks Life Science Systems. The Brooks Semiconductor Solutions Group segment offers critical automated transport, vacuum, and contamination controls solutions and services.