Chuck Royce (Trades, Portfolio), portfolio manager for Royce Pennsylvania Mutual Fund since 1972, is one of the pioneers in small-cap investing and enjoys one of the longest tenures of any active mutual fund manager. During the second quarter he traded the following stocks:
The guru reduced his stake in UniFirst Corp. (UNF) by 21.25% with an impact of -0.26% on the portfolio.
The company together with its subsidiaries is engaged in designing, manufacturing, personalizing, renting, cleaning, delivering and selling uniforms and protective clothing, including shirts, jackets, coveralls, lab coats and specialized protective wear.
Third quarter revenues were $367.8 million, grew 0.6% from $365.6 million in the same year ago period and net income was $1.49 per diluted share decreased 7.2% from $1.61 per diluted share in the third quarter of fiscal 2015.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 6.34% and ROA of 7.54% that is outperforming 59% of the companies in the Global Apparel Manufacturing industry. Financial strength has a rating of 9 out of 10 with no debt.
Other shareholders among the gurus are Columbia Wanger (Trades, Portfolio) with 6.58% of outstanding shares, Tweedy Browne (Trades, Portfolio) with 0.93%, Joel Greenblatt (Trades, Portfolio) with 0.76% and Jim Simons (Trades, Portfolio) with 0.74%.
The investor reduced his stake in Fabrinet (FN) by 48.54% with an impact of -0.17% on the portfolio.
The company provides optical packaging and precision optical, electromechanical and electronic manufacturing services to original equipment manufacturers of optical communication components, modules and subsystems, industrial lasers and sensors.
Total revenue was $250.9 million for the third quarter of fiscal year 2016. It grew 32% compared to total revenue of $189.5 million for the comparable period in fiscal year 2015, and GAAP net income was $20.8 million, compared to GAAP net income of $10.8 million in the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 11.22% and ROA of 7.90% that are out performing 72% of the companies in the Global Consumer Electronics industry. Financial strength has a rating of 8 out of 10, with cash to debt of 5.46 that is below the industry median of 1.45.
Simons is another noteworthy shareholder among the gurus is with 0.8% of outstanding shares followed by Jeremy Grantham (Trades, Portfolio) with 0.09% and Paul Tudor Jones (Trades, Portfolio) with 0.08%.
The guru increased his stake in Intevac Inc. (IVAC) by 4.55%. The company provides process manufacturing equipment solutions to the hard disk drive industry. It also offers high-productivity, thin-film processing systems to the PV industry and to adjacent markets for thin-film deposition applications.
First quarter net loss was 31 cents per share, compared to a net loss of 12 cents per share in the first quarter of 2015 and the non-GAAP net loss was 31 cents per share compared to the first quarter 2015 non-GAAP net loss of 12 cents per share.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10 with ROE of -15.07% and ROA of -12.34% that are underperforming 89% of the companies in the Global Electronic Components industry. Financial strength has a rating of 8 out of 10 with no debt.
First Eagle Investment (Trades, Portfolio) is the largest shareholder of the company among the gurus, with 23.37% of outstanding shares followed by Arnold Schneider (Trades, Portfolio) with 3.02% and Simons with 1.06%.
The guru reduced his stake in Key Tronic Corp. (KTCC) by 56.31% with an impact of -0.01% on the portfolio.
The company is engaged in electronic manufacturing services for original equipment manufacturers and also manufactures keyboards and other input devices.
Third quarter total revenue grew 2% from the second quarter and increased 5% from the same quarter of a year before. Gross margin was 8.4% and operating margin was 2.3%, up from 7.8% and 2.1% in the prior quarter.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 6.65% and ROA of 2.91% that are outperforming 51% of the companies in the Global Computer Systems industry. Financial strength has a rating of 6 out of 10 with cash to debt of 0.01 that is below the industry median of 1.45.
Simons is the company's second-largest shareholder among the gurus with 1.27% of outstanding shares.
The investor exited his stake in Noranda Aluminum Holding Corp. (NORNQ). The company is a North American integrated producer of value-added aluminum products and rolled aluminum coils.
GuruFocus gives the stock a profitability and growth rating of 3 out of 10 with ROE of -21.05% and ROA of -32.13% that are underperforming 65% of the companies in the Global Aluminum industry. Financial strength has a rating of 3 out of 10, with cash to debt of 0.08 that is below the industry median of 8.92.
The investor reduced his stake in Cal-Maine Foods Inc. (CALM) by 53.08% with an impact of -0.15% on the portfolio.
The company is a producer and marketer of shell eggs in the U.S. Its main business is the production, grading, packaging, marketing and distribution of shell eggs.
Net sales decreased 24.8% from the fourth quarter of 2015 and net loss was 1 cent per basic diluted share compared to net income of 96 cents per basic share and 95 cents per diluted share for the fourth quarter of fiscal 2015.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10 with ROE of 37.58% and ROA of 28.77% that are outperforming 96% of the companies in the Global Packaged Foods industry. Financial strength has a rating of 9 out of 10 with cash to debt of 15.23 that is above the industry median of 0.64.
The largest shareholder among the gurus is John Hussman (Trades, Portfolio) with 0.52% of outstanding shares followed by Simons with 0.27%, Steven Cohen (Trades, Portfolio) with 0.27%, Chase Coleman (Trades, Portfolio) with 0.15% and Jones with 0.05%.
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