Tweedy, Browne is a value investing fund. Warren Buffett mentioned the company in one of his speeches: https://www8.gsb.columbia.edu/articles/columbia-business/superinvestors Two weeks ago, Tweedy, Browne sent a letter to Antony Burgmans. the Chairman of the Supervisory Board of Akzo Nobel. They want Akzo to accept the PPG buyout offer of 96,75 Euros shown below:
They mention buying Akzo Nobel in 1993, I can't find the stock price they paid, but on Gurufocus I found the data to calculate Graham Value. It has increased by 2,5x since 1993 and Akzo has been paying dividends.
PPG's has also been paying dividends, but its Graham Number has increased much more than Akzo from $10 to $40 = 4x.
The PPG stock price was much higher than the Graham Number in 1993 and unlike Akzo they're hasn't been much overlap between the 2. In other words PPG stock has not been "cheap" by traditional value investing metrics, but in the long term owning a part of the company has been a relatively good investment.
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