Fuel Systems Solutions (FSYS): Fuel Systems Solutions is an alternative fuel component manufacturer. Think about the natural gas powered internal combustion engines. Their stock has been hurt recently because of a new share issuance, and they’re near a 52 week low. George Soros sold out of his position completely at a price 19% higher than today, although it was not a large position. Ron Muhlenkamp is also an owner.
General Mills (GIS): General Mills is a producer of consumer foods. Shares have been hurt in the last two weeks because of rising commodity prices. There were a slew of guru sales in the third quarter last year. Arnold Van Den Berg, George Soros, and Ken Fisher sold out of their positions completely. Ruane Cunniff reduced theirs by 29.51%. Shares have only been down 2% since then.
Seahawk Drilling (HAWK): Seahawk Drilling has been off and on the 52 week low list the last few weeks. They’re a small $84 million oil and gas driller and there are concerns that the regulatory environment has become very difficult for them and other small drillers. Robert Rodriguez and George Soros sold out of HAWK in the third quarter last year, probably in response to the government’s response to the BP oil spill in the gulf. Shares are now 19% lower since those sales.
Tellabs (TLAB): Tellabs dropped to within a penny of its 52 week low yesterday. They’re still sliding after reporting disappointing figures on January 25. They design, develop and support telecommunications networking products for communications service providers. Two gurus sold shares in the last two quarters. George Soros reduced his position by nearly 77% in the third quarter last year and the stock is 27% lower than when he sold. Third Avenue Management, which is Marty Whitman’s shop, reduced their position by nearly 30% in the second quarter. The stock is 34% lower now compared to when they sold. Third Avenue still owns 4.58% of the outstanding shares. Insiders had been selling like crazy before their big drop as well.
Disclosure: No positions