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Toyota Motor Corporation (ADR) (TM): Insiders Aren’t Crazy About It But Hedge Funds Love It

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What’s a smart Toyota Motor Corporation (ADR) (NYSE:TM) investor to do?

If you were to ask many market players, hedge funds are seen as overrated, old investment vehicles of a period lost to current times. Although there are In excess of 8,000 hedge funds in operation today, Insider Monkey focuses on the crème de la crème of this club, close to 525 funds. It is assumed that this group controls the majority of the hedge fund industry’s total assets, and by monitoring their highest quality equity investments, we’ve deciphered a few investment strategies that have historically beaten the market. Our small-cap hedge fund strategy outpaced the S&P 500 index by 18 percentage points per year for a decade in our back tests, and since we’ve started sharing our picks with our subscribers at the end of August 2012, we have outperformed the S&P 500 index by 33 percentage points in 11 months (find a sample of our picks).

Just as useful, optimistic insider trading activity is a second way to look at the investments you’re interested in. There are lots of reasons for an insider to drop shares of his or her company, but only one, very obvious reason why they would buy. Many academic studies have demonstrated the market-beating potential of this tactic if shareholders know where to look (learn more here).

Thus, let’s examine the latest info for Toyota Motor Corporation (ADR) (NYSE:TM).

Hedge fund activity in Toyota Motor Corporation (ADR) (NYSE:TM)

In preparation for the third quarter, a total of 20 of the hedge funds we track were bullish in this stock, a change of 33% from the previous quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were increasing their holdings substantially.

Toyota Motor Corporation (ADR) (NYSE:TM)Out of the hedge funds we follow, Fisher Asset Management, managed by Ken Fisher, holds the biggest position in Toyota Motor Corporation (ADR) (NYSE:TM). Fisher Asset Management has a $546.6 million position in the stock, comprising 1.4% of its 13F portfolio. The second largest stake is held by Adage Capital Management, managed by Phill Gross and Robert Atchinson, which held a $84.5 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Some other hedgies that hold long positions include Ken Heebner’s Capital Growth Management, Julian Robertson’s Tiger Management and Michael Larson’s Bill & Melinda Gates Foundation Trust.

As aggregate interest spiked, certain bigger names were leading the bulls’ herd. Fisher Asset Management, managed by Ken Fisher, established the biggest position in Toyota Motor Corporation (ADR) (NYSE:TM). Fisher Asset Management had 546.6 million invested in the company at the end of the quarter. Phill Gross and Robert Atchinson’s Adage Capital Management also made a $84.5 million investment in the stock during the quarter. The following funds were also among the new TM investors: Ken Heebner’s Capital Growth Management, Julian Robertson’s Tiger Management, and Michael Larson’s Bill & Melinda Gates Foundation Trust.

How are insiders trading Toyota Motor Corporation (ADR) (NYSE:TM)?

Bullish insider trading is best served when the company in focus has seen transactions within the past six months. Over the last half-year time period, Toyota Motor Corporation (ADR) (NYSE:TM) has seen zero unique insiders buying, and zero insider sales (see the details of insider trades here).

We’ll also take a look at the relationship between both of these indicators in other stocks similar to Toyota Motor Corporation (ADR) (NYSE:TM). These stocks are Tata Motors Limited (ADR) (NYSE:TTM), General Motors Company (NYSE:GM), Nissan Motor Co., Ltd. (ADR) (PINK:NSANY), Ford Motor Company (NYSE:F), and Honda Motor Co Ltd (ADR) (NYSE:HMC). This group of stocks belong to the auto manufacturers – major industry and their market caps match TM’s market cap.

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