ACTION # STOCK PRICE COMS'N COST Bought 19 T. Rowe Price $35.44 0 $673.36
Rule Maker Buys More T. Rowe Price
By Motley Fool Staff – May 4, 2001 at 12:00AM
After selling our stake in JDS Uniphase (Nasdaq: JDSU), the Rule Maker used the proceeds to buy 19 additional shares of financial services company T. Rowe Price at $35.44 each. T. Rowe Price has been a steady performer for the portfolio, and we like the economics of the asset management business. Over the past 12 months -- a period during which almost every equity index was negative -- T. Rowe earned $236.2 million in free cash flow on $1,176.5 million in revenue -- a 20.1% Cash King Margin. This is a profit-heavy business, even in the worst of times. Rule Maker manager Matt Richey wrote about the purchase in, "Selling JDSU, Buying More T. Rowe".