At the end of the second quarter of 2015, the hedge fund Cue Financial Group Inc. reported a total value of its portfolio of $106,266,000 with an increase of 6.92% since the previous quarter.
During the Q2 2015, the hedge-fund bought eight new stocks and increased 97 stakes as summarized in my previous article. It also sold out 10 stakes and reduced another 27. The following are the most heavily weighted sales of U.S. companies the hedge fund did during that quarter.
It sold out its stake in American Express Co (AXP) which amounted to 0.94% of its portfolio. The company together with its subsidiaries is a service company that provides customers with access to products, insights and experiences that enrich lives and build business success. Its main products and services are charge and credit payment card products and travel-related services offered to consumers and businesses.
The stock is trading with a P/E(ttm) ratio of 13.21, while other companies in the Global Credit Services industry have an average P/E(ttm) ratio of 15.80. The price of the stock has dropped by 18% during the last 12 months and is now -20.72% from its 52-week high and +1.25% from its 52-week low.
The stock has positive returns (ROA +3.87% and ROE +29.05%) that are outperforming 63% of other companies in the same sector. Earnings per share of the company increased by 12.70% over the last 12 months, revenue grew by 6.20% and EBITDA by 14%
The main hedge fund holding shares of the company is Warren Buffett (Trades, Portfolio) with 14.93% of outstanding shares, followed by Chris Davis (Trades, Portfolio) with 2.05% of shares outstanding and James Barrow (Trades, Portfolio) who holds 1.83%.
It sold out its stake in Praxair Inc (PX) which amounted to 0.71% of its portfolio. It was the first company in the United States to produce oxygen from air using a cryogenic process and continues to be a major technological innovator in the industrial gases industry. The company's main products for its industrial gases business are atmospheric gases and process gases. It also designs, engineers and builds equipment that produces industrial gases for internal use and external sale.
The stock is trading with a P/E(ttm) ratio of 20.35, while other companies in the Global Specialty Chemicals industry have an average P/E(ttm) ratio of 19.30. The price of the stock has dropped by 11% during the last 12 months and is now -14.51% from its 52-week high and +2.75% from its 52-week low.
The stock has positive returns (ROA +8.25% and ROE +27.06%) that are outperforming 80% of other companies in the same sector. Earnings per share of the company decreased by 6.90% over the last 12 months (while they have a growth rate of 9.20% if compared to five years back), revenue and EBITDA are almost flat, while even they have a growth rate of 7.40% and 9.80% over the last five years.
The main hedge fund holding shares of the company is Chris Davis (Trades, Portfolio) with 1.87% of outstanding shares, followed by PRIMECAP Management (Trades, Portfolio) with 0.66% of shares outstanding and Ruane Cunniff (Trades, Portfolio) who holds 0.66%.
It sold out its stake in Oceaneering Intl Inc. (OII) which amounted to 0.29% of its portfolio. The company is an oilfield provider of engineered services and products to the offshore oil and gas industry with a focus on deepwater applications. Its business segments are contained within two businesses, being services and products provided to the oil and gas industry (Oilfield), and all other services and products ( Advanced Technologies).
The stock is trading with a P/E(ttm) ratio of 10.19, while other companies in the Global Oil & Gas Equipment & Services industry have an average P/E(ttm) ratio of 13.30. The price of the stock has tanked by 43% during the last 12 months and is now -45.28% from its 52-week high and +4.36% from its 52-week low.
The stock has positive returns (ROA +12.06% and ROE +21.35%) that are outperforming 89% of other companies in the same sector. Earnings per share of the company increased by 8.40% over the last 12 months, revenue by 9.50% and EBITDA by 11.80%. These ratios are even higher if we compare them to five years back: EPS grew by 19.80%, revenue by 17% and EBITDA by 16.60%.
The main hedge fund holding shares of the company is Ken Fisher (Trades, Portfolio) with 0.73% of outstanding shares, followed by Mario Gabelli (Trades, Portfolio) with 0.46% of shares outstanding and Steven Cohen (Trades, Portfolio) who holds 0.24%.
Other buys
Cue Financial Group also decreased its stakes in Discover Financial Services (DFS) by 25.76%, General Electric Co (GE) by 18.36%, Cognex Corp (CGNX)by 6.74%.
