At the end of the second quarter of 2015, the hedge fund Redmond Asset Management LLC reported a total value of its portfolio of $202,512,000 with a increase of 2.10% since the previous quarter.
During Q2 2015, the hedge fund bought eight new stocks and increased 75 of its stakes. The following are the most heavily weighted buys during the quarter.
It bought shares of Harley-Davidson Inc (HOG) with an impact of 0.97% on its portfolio. The company produces and sells heavyweight motorcycles, as well as offers motorcycle parts, accessories, and related services. It operates in two reportable segments: Motorcycles & Related Products, and Financial Services.
The company has a profitability and growth rating of 7 out of 10 with good returns (ROE 25.59%, ROA 7.87%) that are outperforming 75% of the Global Recreational Vehicles industry. Financial strength has a rating of 6 out of 10 with an interest coverage of 32.40, and a weak cash to debt of 0.21 that is very low if compared to the industry median of 0.68.
During the last quarter, the company reported diluted earnings per share of $1.44 compared to EPS of $1.62 in the year-ago period. Sales of new motorcycles were down 1.4% worldwide and second quarter revenue from motorcycles decreased 11.6%.
For the rest of year, HOG expects to ship more motorcycles to dealers and distributors worldwide, with an approximate increase of 2% to 4% compared to 2014.
The main hedge fund holding shares of the company is HOTCHKIS & WILEY with 0.96% of outstanding shares, followed by Bill Nygren (Trades, Portfolio)Â with 0.54% and Joel Greenblatt (Trades, Portfolio) with 0.36%.
It bought shares of Danaher Corp (DHR) with an impact of 0.67% on its portfolio. Danaher Corporation designs, manufactures and markets professional, medical, industrial and commercial products and services. Its business consists of five segments: Test & Measurement; Environmental; Life Sciences & Diagnostics; Dental; and Industrial Technologies.
The company has a profitability and growth rating of 8 out of 10 with good returns (ROE 11.03%, ROA 7.19%) that are outperforming 67% of the Global Diversified Industrials industry. Financial strength has a rating of 7 out of 10 with a very high interest coverage ratio of 27.96 and a positive cash to debt of 1.06.
Revenue for the second quarter 2015 increased 3.5%, and the company is confident that their focus on driving growth and optimization of their portfolio will offer their shareholders substantial value.
The main shareholder is Dodge & Cox with 1.46% of outstanding shares, followed by Jeremy Grantham (Trades, Portfolio) with 0.55% and Larry Robbins (Trades, Portfolio) with 0.53%.
It bought shares of Inogen Inc (INGN) with an impact of 1.68% on its portfolio. The company is a medical technology company that develops, manufactures and markets portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions.
The company has a profitability and growth rating of 3 out of 10 with good returns (ROE 7.41%, ROA 5.31%) that are outperforming 61% of the Global Medical Devices industry. Financial strength has a rating of 7 out of 10 with an interest coverage of 23.41 and a very high cash to debt of 113.15.
In the second quarter, total revenue was up 445% compared to the year-ago quarter, which reflects exceptional strong performance across all of its sales channels.
Also, net income increased about 51.3% and adjusted EBITDA increased by 28.8%. These reached record levels and shows the substantial operating cost leverage of INGN.
The main shareholder is Chuck Royce (Trades, Portfolio) with 1.64% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.79% and Steven Cohen (Trades, Portfolio) with 0.29%.
It bought shares of Scotts Miracle Gro Co (SMG) with an impact of 0.29% on its portfolio. The company is a manufacturer and marketer of consumer lawn and garden products. Its products includes Scotts and Turf Builder lawn and grass seed products. The company's business is divided into two reportable segments: Global Consumer and Scotts LawnService.
The company has a profitability and growth rating of 6 out of 10 with positive returns (ROE of 28.11%, ROA of 6.54%). These ratios are outperforming 68% of the Global Agricultural Inputs industry. Financial strength has a rating of 8 out of 10 with an interest coverage of 6.68, and a very low cash to debt of 0.08 that is underperforming the industry median of 0.34.
In its first quarter driven by recent acquisitions, the company increased its sales by 14%, while the overall performance was in line with the company's expectations. For the rest of year, SMG expects the year-over-year gross margin rate to be flat.
The main hedge fund holding shares of the company is First Eagle Investment (Trades, Portfolio) with 9.55% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 2.45% and James Barrow (Trades, Portfolio) with 1.45%.
It bought shares of Fossil Group Inc(FOSL) with an impact of 0.23% on its portfolio. The company designs, markets and distributes consumer fashion accessories. Its principal offerings include an extensive line of men's and women's fashion watches and jewelry, handbags, small leather goods, belts, sunglasses, soft accessories and clothing. Its operations are primarily divided into four distinct segments: the North America wholesale segment; the Europe wholesale segment; the Asia Pacific wholesale segment; and the Direct to consumer segment, which includes its Company-owned retail stores, its catalog costs and e-commerce activities.
The company has a profitability and growth rating of 8 out of 10 with good returns (ROE 36.06%, ROA 16.19%) that are outperforming 92% of the Global Footwear & Accessories industry. Financial strength has a rating of 8 out of 10 with an interest coverage of 35.64 and a cash to debt of 0.37 that is very low if compared to the industry median of 1.09.
In the second quarter of fiscal 2015, driven by the negative impact of changes in foreign currency the company reported worldwide net sales decreased by 4%. Though near term-challenges exist, FOSL remain confident in its long-term strategies and will continue to grow its business and deliver high returns.
The main shareholder is Larry Robbins (Trades, Portfolio) with 4.21% of outstanding shares, followed by Columbia Wanger (Trades, Portfolio) with 2.63% and Joel Greenblatt (Trades, Portfolio) with 1.89%.
Increased stakes
The hedge fund also increased its stakes as follow: Monmouth Real Estateinvt Corp (MNR) by 6%, Enersys Com (ENS) by 7%, Cf Industries Hldgs Inc (CF) by 366%, Iconix Brand Group Inc (ICON) by 52% and Vertex Energy Inc (VTNR) by 174%.
