Since its founding in 1980, HOTCHKIS & WILEY has emphasized finding and owning undervalued companies with significant potential for appreciation. Its approach has regularly produced double-digit returns for its clients in recent years.
HOTCHKIS & WILEY’s most noteworthy third-quarter transaction was its purchase of a 7,683,558-share stake in Hess Corp. (HES, Financial), a New York-based oil and gas company, for an average price of $57.23 per share. The deal had a 1.54% impact on HOTCHKIS & WILEY’s portfolio.
Hess has a market cap of $16.23 billion and an enterprise value of $20.8 billion. It has a P/B of 0.8 and a P/S of 1.9. GuruFocus has given Hess a Financial Strength rating of 5/10 and a Profitability and Growth rating of 4/10.
Paul Singer (Trades, Portfolio), T Rowe Price Equity Income Fund (Trades, Portfolio), NWQ Managers (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Michael Price (Trades, Portfolio), Jim Simons (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Murray Stahl (Trades, Portfolio) and Dodge & Cox have shares of Hess in their portfolios.
Hess sold for $56.74 per share Wednesday.
HOTCHKIS & WILEY reduced its stake in Eli Lilly and Co. (LLY, Financial), an Indianapolis-based pharmaceutical company, by more than 99%. The shares were sold for an average price of $84.37 per share and had a -1.13% impact on HOTCHKIS & WILEY’s portfolio.
Eli Lilly has a market cap of $93.83 billion and an enterprise value of $97.61 billion. It has a P/E of 38.4, a forward P/E of 23.3, a P/B of 6.1 and a P/S of 4.7. GuruFocus has given Eli Lilly a Financial Strength rating of 8/10 and a Profitability and Growth rating of 5/10.
PRIMECAP Management (Trades, Portfolio), Vanguard Health Care Fund (Trades, Portfolio), Manning & Napier Advisors Inc., Jeremy Grantham (Trades, Portfolio), Sarah Ketterer (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Mairs and Power (Trades, Portfolio), Jim Simons (Trades, Portfolio), John Hussman (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Dodge & Cox, Murray Stahl (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), Caxton Associates (Trades, Portfolio), RS Investment Management (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Eli Lilly in their portfolios.
On Wednesday Eli Lilly sold for $84.56 per share.
HOTCHKIS & WILEY sold nearly all its stake in Public Service Enterprise Group Inc. (PEG, Financial), a Newark, New Jersey-based utilities company, for an average price of $40.8 per share. HOTCHKIS & WILEY sold 6,902,706 shares in a deal that had a -0.96% impact on its portfolio.
Public Service Enterprise Group has a market cap of $19.48 billion and an enterprise value of $28.47 billion. It has a P/E of 10.6, a forward P/E of 13.7, a P/B of 1.5 and a P/S of 1.8. GuruFocus has given Public Service Enterprise Group a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.
Pioneer Investments (Trades, Portfolio), PRIMECAP Management (Trades, Portfolio), Jim Simons (Trades, Portfolio), Ray Dalio (Trades, Portfolio), David Dreman (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio), RS Investment Management (Trades, Portfolio) and John Hussman (Trades, Portfolio) have shares of Public Service Enterprise Group in their portfolios.
Public Service Enterprise Group sold for $38.46 per share Wednesday.
HOTCHKIS & WILEY trimmed its stake in Con-way Inc. (CNW, Financial), an Ann Arbor, Michigan-based transportation and distribution company, by more than 68%. HOTCHKIS & WILEY sold 5,667,467 shares for an average price of $39.19 per share. The transaction had a -0.77% impact on the portfolio.
Con-way has a market cap of $2.72 billion and an enterprise value of $3.01 billion. It has a P/E of 20.4, a forward P/E of 16.6, a P/B of 2.3 and a P/S of 0.5. GuruFocus has given Con-way a Financial Strength rating of 5/10 and a Profitability and Growth rating of 6/10.
HOTCHKIS & WILEY is Con-way’s leading shareholder among the gurus with 2,618,645 shares. Joel Greenblatt (Trades, Portfolio), Richard Pzena (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and Mario Gabelli (Trades, Portfolio) have shares of Con-way in their portfolios.
On Wednesday Con-way sold for $47.55 per share.
HOTCHKIS & WILEY reduced its position in International Business Machines Corp. (IBM, Financial), an Armonk, New York-based technology and consulting company, by nearly 73%. HOTCHKIS & WILEY sold 1,191,603 shares for an average price of $154.62 per share in a deal that had a -0.69% impact on HOTCHKIS & WILEY’s portfolio.
International Business Machines has a market cap of $135.52 billion and an enterprise value of $165.77 billion. It has a P/E of 9.7, a forward P/E of 9.4, a P/B of 10.3 and a P/S of 1.7. GuruFocus has given International Business Machines a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.
Warren Buffett (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), T Rowe Price Equity Income Fund (Trades, Portfolio), Prem Watsa (Trades, Portfolio), Ruane Cunniff (Trades, Portfolio), Diamond Hill Capital (Trades, Portfolio), James Barrow (Trades, Portfolio), Bruce Berkowitz (Trades, Portfolio), Edward Lampert (Trades, Portfolio), Tweedy Browne (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Mairs and Power (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Robert Bruce (Trades, Portfolio), Chase Coleman (Trades, Portfolio), Tweedy Browne (Trades, Portfolio) Global Value, Dodge & Cox, Ray Dalio (Trades, Portfolio), Manning & Napier Advisors Inc., John Rogers (Trades, Portfolio), John Buckingham (Trades, Portfolio), Ken Fisher (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Chris Davis (Trades, Portfolio), David Dreman (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Tom Russo (Trades, Portfolio), First Eagle Investment (Trades, Portfolio), Kahn Brothers (Trades, Portfolio), Mark Hillman (Trades, Portfolio) and John Hussman (Trades, Portfolio) have shares of International Business Machines in their portfolios.
International Business Machines sold for $139.7 per share Wednesday.
HOTCHKIS & WILEY raised its stake in Marathon Oil Corp. (MRO, Financial), a Houston-based oil and gas company, by more than 56%. HOTCHKIS & WILEY bought 14,192,280 shares for an average price of $18.99 per share. The deal had a 0.88% impact on HOTCHKIS & WILEY’s portfolio.
Marathon Oil has a market cap of $11.29 billion and an enterprise value of $17.27 billion. It has a P/B of 0.6 and a P/S of 1.6. GuruFocus has given Marathon Oil a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10.
HOTCHKIS & WILEY is Marathon Oil’s leading shareholder among the gurus with 39,302,590 shares. James Barrow (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Jeremy Grantham (Trades, Portfolio), Jim Simons (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Bernard Horn (Trades, Portfolio), John Buckingham (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of Marathon Oil in their portfolios.
Marathon Oil sold for $16.67 per share Wednesday.
HOTCHKIS & WILEY sold its 1,743,984-share stake in UnitedHealth Group Inc. (UNH, Financial), a Minnetonka, Minnesota-based managed health care company, for an average price of $119.69 per share. The divestiture had a -0.75% impact on HOTCHKIS & WILEY’s portfolio.
UnitedHealth Group has a market cap of $112.12 billion and an enterprise value of $133.99 billion. It has a P/E of 18.6, a forward P/E of 16.1, a P/B of 3.4 and a P/S of 0.8. GuruFocus has given UnitedHealth Group a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Vanguard Health Care Fund (Trades, Portfolio), Dodge & Cox, Jeremy Grantham (Trades, Portfolio), Chris Davis (Trades, Portfolio), James Barrow (Trades, Portfolio), Bill Nygren (Trades, Portfolio), Sarah Ketterer (Trades, Portfolio), Tom Gayner (Trades, Portfolio), RS Investment Management (Trades, Portfolio), Mario Gabelli (Trades, Portfolio), Jeff Auxier (Trades, Portfolio), John Hussman (Trades, Portfolio), Ray Dalio (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Robert Olstein (Trades, Portfolio), Signature Select Canadian Fund (Trades, Portfolio), Bernard Horn (Trades, Portfolio), John Burbank (Trades, Portfolio), Steven Cohen (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), Mairs and Power (Trades, Portfolio), Paul Tudor Jones (Trades, Portfolio) and David Dreman (Trades, Portfolio) have shares of UnitedHealth Group in their portfolios.
On Wednesday UnitedHealth Group sold for $117.64 per share.
To view the portfolios of more gurus, visit the List of Gurus page. Not a premium member of GuruFocus? Try it free for 7 days.
