Southeastern Asset Management Reduces Exposure To Texas Industries Inc. (TXI) and DineEquity Inc. (DIN); Boosts Stake in TW Telecom Inc. (TWTC)

In newly amended filings with the U.S. Securities and Exchange Commission, Southeastern Asset Management, managed by Mason Hawkins, has disclosed reducing its stakes in Texas Industries Inc. (NYSE:TXI) and DineEquity Inc. (NYSE:DIN). At the same time, the fund reported upping its exposure to  TW Telecom Inc. (NASDAQ:TWTC).

Mason Hawkins

According to the filing, Southeastern Asset Management has revealed a 10.6% passive stake in Texas Industries Inc. (NYSE:TXI). The fund now holds 3.06 million shares of the company’s common stock, down from 8.06 million shares reported previously. Texas Industries Inc. (NYSE:TXI) is a supplier of cement, aggregate and consumer product building materials, and has a market cap of $2.65 billion. Other largest shareholders of the company Robert Emil Zoellner’s Alpine Associates, which holds 262,666 shares, and Cliff Asness‘ AQR Capital Management, which owns 245,031 shares of the company as of the first quarter of 2014.

In another filing, Southeastern Asset Management revealed that it has increased its position in TW Telecom Inc. (NASDAQ:TWTC). According to the newly amended filing, the fund holds 15.20 million shares of the company, representing an increase from 10.83 million shares held previously. The position amasses 11.0% of common stock, and is passive by nature.

Littleton, Colo.-based TW Telecom Inc. (NASDAQ:TWTC) is a national provider of managed services, including Business Ethernet, converged and IP VPN solutions for enterprises throughout the U.S. and globally. Aside from Southeastern Asset Management, Renaissance Technologies, managed by Jim Simons, holds 8.94 million shares, and Keith Meister’s Corvex Capital disclosed ownership of 7.66 million shares of the company.

Southeastern Asset Management has reduced its stake in DineEquity Inc. (NYSE:DIN) to 213,000 shares from 1.32 million shares. The new position is equal to %1.1 of common stock, and is passive by nature.

DineEquity Inc. (NYSE:DIN) is a full-service restaurant company engaged in franchising and operating restaurants, and has more than 3,600 restaurants combined in 19 countries. The largest shareholders of the company include MSD Capital, run by Glenn Fuhrman and John Phelan, and Frank Brosens’ Taconic Capital, holding 2.05 million shares and 350,000 shares of the company, respectively.

Disclosure: none

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