Richard Snow (Trades, Portfolio) is the founder of Snow Capital. Snow began his career investing the proceeds from the sale of the Snow family businesses. The guru’s largest third quarter trades are the following:
The guru boosted his stake in Kinder Morgan Inc. (KMI, Financial) by 16,330.30%. The trade had an impact of 2.52% on the portfolio.
The company, through its subsidiaries, owns and operates pipelines that transport natural gas, gasoline, crude oil, carbon dioxide and other products. Third quarter net loss available to common stockholders was $227 million, compared to net income available to common stockholders of $186 million for the same quarter of 2015. Cash flow was $1,081 million versus $1,129 million for the same quarter of a year before.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The return on equity (ROE) of -0.97% and return on assets (ROA) of -0.23% are underperforming 68% of the companies in the Global Oil & Gas Midstream industry. Financial strength has a rating of 4 out of 10. The cash to debt ratio of 0.01 is below the industry median of 0.05.
The largest shareholder among the gurus is Warren Buffett (Trades, Portfolio) with 0.9% of outstanding shares, followed by Steve Mandel (Trades, Portfolio) with 0.55%, David Tepper (Trades, Portfolio) with 0.16%, Eric Mindich (Trades, Portfolio) with 0.12%, Richard Snow (Trades, Portfolio) with 0.11%, Alan Fournier (Trades, Portfolio) with 0.1%, Jim Simons (Trades, Portfolio) with 0.08% and Howard Marks (Trades, Portfolio) with 0.04%.
The investor purchased 639,005 shares in Skyworks Solutions Inc. (SWKS). The trade had an impact of 2.19% on the portfolio.
The company, together with its consolidated subsidiaries, is an innovator of high reliability analog and mixed signal semiconductors. Third quarter revenue grew 11% sequentially and operating income was $291.9 million with diluted earnings per share of $1.31.
GuruFocus gives the stock a profitability and growth rating of 9 out of 10. The ROE of 28.86% and ROA of 25.62% are outperforming 96% of the companies in the Global Semiconductors industry. Financial strength has a rating of 9 out of 10, with no debt.
Manning & Napier Advisors Inc. is the largest shareholder with 1.95% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.3%, Pioneer Investments (Trades, Portfolio) with 0.24%, Joel Greenblatt (Trades, Portfolio) with 0.08% and Ray Dalio (Trades, Portfolio) with 0.03%.
The guru reduced his stake in Community Health Systems Inc. (CYH, Financial) by 82.74%. The transaction had an impact of -1.78% on the portfolio.
The company provides health care services through the hospitals it owns and operates in non-urban and select urban markets throughout the U.S. Third quarter revenue decreased 9.6% from the same quarter of a year before and net income was a loss of 71 cents per diluted share. This is compared to income of 44 cents per diluted share for the same period in 2015.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10. The ROE of -49.53% and ROA of -6.32% are underperforming 96% of the companies in the Global Medical Care industry. Financial strength has a rating of 3 out of 10. The cash-debt ratio of 0.01 is below the industry median of 0.32.
The largest shareholder of the company among the gurus is Steven Cohen (Trades, Portfolio) with 1.14% of outstanding shares, followed by Ronald Muhlenkamp (Trades, Portfolio) with 0.33%, Joel Greenblatt (Trades, Portfolio) with 0.28%, Barrow, Hanley, Mewhinney & Strauss with 0.18%, Ray Dalio (Trades, Portfolio) with 0.02% and Jeff Auxier (Trades, Portfolio) with 0.02%.
The investor reduced his position in Eaton Corp PLC. (ETN, Financial) by 62.19%. The transaction had an impact of -1.5% on the portfolio.
Eaton is a power management company that provides energy-efficient solutions to help its customers effectively manage electrical, hydraulic and mechanical power. It reported a decrease of 4% for third-quarter sales and operating profit grew 6% year over year.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 12.70% and ROA of 6.20% are outperforming 72% of the companies in the Global Diversified Industrials industry. Financial strength has a rating of 5 out of 10. The cash-debt ratio of 0.08 is below the industry median of 1.13.
The largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.74% of outstanding shares, followed by Hotchkis & Wiley with 0.35%, Jim Simons (Trades, Portfolio) with 0.13%, Chris Davis (Trades, Portfolio) with 0.13, Andreas Halvorsen (Trades, Portfolio) with 0.04% and NWQ Managers (Trades, Portfolio) with 0.03%.
Snow boosted his position in Lannett Co Inc. (LCI, Financial) by 159.94%. The trade had an impact of 1.21% on the portfolio.
The company develops, manufactures, packages, markets and distributes generic versions of branded pharmaceutical products. During the third quarter, net sales were approximately $162 million, as compared to $106 million in the same period last year. Gross profit as a percentage of net sales was 51% compared with 73% in last year's first quarter.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of -3.32% and ROA of -1.18% are underperforming 71% of the companies in the Global Drug Manufacturers - Specialty & Generic industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.24 is below the industry median of 2.93.
Joel Greenblatt (Trades, Portfolio) is the second largest shareholder of the company among the gurus with 0.76% of outstanding shares, followed by Ronald Muhlenkamp (Trades, Portfolio) with 0.73%, Paul Tudor Jones (Trades, Portfolio) with 0.04% and Ken Fisher (Trades, Portfolio) with 0.02%.
The guru reduced his stake in Crane Co. (CR, Financial) by 25.37%, with an impact of -0.89% on the portfolio.
The company is a diversified manufacturer of engineered industrial products. Its segments include fluid handling, payment and merchandising technologies, aerospace and electronics and engineered materials. During the third quarter, sales grew 4% and operating profits increased 7%. The company reported a 4% increase for earnings per share and 70% growth for free cash flow.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10. The ROE of 20.91% and ROA of 7.42% are outperforming 79% of other companies in the Global Diversified Industrials industry. Financial strength has a rating of 6 out of 10. The cash-debt ratio of 0.56 is below the industry median of 1.13.
The largest shareholder of the company among the gurus is Mario Gabelli (Trades, Portfolio) with 4.74% of outstanding shares, followed by Tom Russo (Trades, Portfolio) with 0.26%, Jim Simons (Trades, Portfolio) with 0.1%, Joel Greenblatt (Trades, Portfolio) with 0.02%, Mairs and Power (Trades, Portfolio) with 0.01%, Paul Tudor Jones (Trades, Portfolio) with 0.01% and David Dreman (Trades, Portfolio) with 0.01%.
Snow reduced his position in Macy's Inc. (M, Financial) by 82.13%. The trade had an impact of -0.78% on the portfolio.
The company sells merchandise, including men's, women's and children's apparel and accessories, cosmetics, home furnishings and other consumer goods. Third quarter sales decreased 4.2% from the same period a year before. Cash flow was $308 million, as compared to $278 million for the first three quarters of last year.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10. The ROE of 17.03% and ROA of 3.31% are outperforming 57% of the companies in the Global Department Stores industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.06 is below the industry median of 0.91.
T Rowe Price Equity Income Fund (Trades, Portfolio) is the largest shareholder of the company among the gurus with 1.08% of outstanding shares, followed by NWQ Managers (Trades, Portfolio) with 0.42%, Steven Cohen (Trades, Portfolio) with 0.32%, Ray Dalio (Trades, Portfolio) with 0.14%, Mario Gabelli (Trades, Portfolio) with 0.13%, Joel Greenblatt (Trades, Portfolio) with 0.12% and Robert Olstein (Trades, Portfolio) with 0.07%.
Disclosure: I do not own any shares of any stocks mentioned in this article.
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