Third Avenue Management (Trades, Portfolio) was founded in 1986. The firm sold shares of the following stocks in the fourth quarter.
The firm sold out ofCerner Corp. (CERN, Financial), impacting the portfolio by -1.31%.
The supplier of health care information technology has a market cap of $21.27 billion and an enterprise value of $20.99 billion.
GuruFocus gives the company a profitability and growth rating of 9 out of 10. Its return on equity (ROE) of 19.93% and return on assets (ROA) of 14.36% are outperforming 82% of companies in the Global Health Information Services industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 1.53 is below the industry median of 5.32.
The Vanguard Health Care Fund (Trades, Portfolio) is the largest guru shareholder of the company with 3.86% of outstanding shares, followed by Martin Whitman (Trades, Portfolio) with 0.11% and Manning & Napier Advisors with 0.1%.
The firm's Anixter International Inc. (AXE, Financial) position was reduced 83.41%. The trade had an impact of -1.13% on the portfolio.
The industrial distributor has a market cap of $2.57 billion and an enterprise value of $3.71 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. While its ROE of 7.85% is outperforming the sector, its ROA of 2.61% is underperforming 53% of companies in the Global Industrial Distribution industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.09 is below the industry median of 0.77.
The company's largest shareholder among the gurus is John Rogers (Trades, Portfolio) with 3.58% of outstanding shares, followed by Richard Pzena (Trades, Portfolio) with 2.58% and Ken Fisher (Trades, Portfolio) with 1.91%.
The Bank of New York Mellon Corp. (BK, Financial) stake was trimmed by 29.79%. The transaction had an impact of -1.11% on the portfolio.
The investment bank has a market cap of $58.77 billion and an enterprise value of $336.53 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. While its ROE of 9.69% is outperforming the sector, its ROA of 1.17% is underperforming 63% of companies in the Global Asset Management industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 3.19 is far below the industry median of 226.
Warren Buffett (Trades, Portfolio) is the company's largest shareholder among the gurus with 6% of outstanding shares, followed by Dodge & Cox with 4.5% and First Eagle Investment (Trades, Portfolio) with 1.93%.
The fund exited its Parkway Inc. (PKY, Financial) holding, impacting the portfolio by -1.09%.
The real estate investment trust, which owns, develops and leases Class A office properties, has a market cap of $953.51 million and an enterprise value of $641.45 million.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. Its ROE of -770.61% and ROA of -324.88% are underperforming 100% of companies in the Global REIT – Office industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 1.90 is above the industry median of 1.07.
The firm trimmed its holding in Comerica Inc. (CMA, Financial) by 35.54%. The trade had an impact of -1.03% on the portfolio.
The financial services company has a market cap of $17.04 billion and an enterprise value of $15.73 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. Its ROE of 9.29% and ROA of 1.03% are outperforming 58% of companies in the Global Banks - Regional - U.S. industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 1.26 is below the industry median of 2.10.
Whitman is the company's largest guru shareholder with 0.42% of outstanding shares, followed by Pzena with 0.41%.
The firm closed its position in Devon Energy Corp. (DVN, Financial), impacting the portfolio by -1.02%.
The oil and gas producer has a market cap of $16.76 billion and an enterprise value of $29.34 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 11.53% and ROA of 3.22% are outperforming 82% of companies in the Global Oil and Gas E&P industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.26 is below the industry median of 0.49.
The largest guru shareholder of the company is Barrow, Hanley, Mewhinney & Strauss with 1.18% of outstanding shares, followed by First Eagle Investment with 0.92%, Jim Simons (Trades, Portfolio) with 0.71% and  Diamond Hill Capital (Trades, Portfolio) with 0.68%.
The PNC Financial Services Group Inc. (PNC, Financial) holding was cut by 33.78%. The transaction had an impact of -1% on the portfolio.
The bank has a market cap of $75.79 billion and an enterprise value of $103.97 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 10.92% and ROA of 1.43% are outperforming 69% of companies in the Global Banks - Regional - U.S. industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.57 is below the industry median of 2.10.
Barrow, Hanley, Mewhinney & Strauss is the company's largest shareholder among the gurus with 0.47% of outstanding shares, followed by Diamond Hill Capital with 0.33%, the T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.32% and Pioneer Investments (Trades, Portfolio) with 0.19%.
The firm’s CBS Corp. (CBS, Financial) stake was closed, impacting the portfolio by -0.92%.
The media company has a market cap of $20.72 billion and an enterprise value of $30.59 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. While its ROE of 12.59% is outperforming the sector, its ROA of 1.56% is underperforming 53% of companies in the Global Media - Diversified industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.90.
With 1.77% of outstanding shares, Larry Robbins (Trades, Portfolio) is the company's largest guru shareholder, followed by Hotchkis & Wiley with 1.06%, PRIMECAP Management (Trades, Portfolio) with 0.45% and Rogers with 0.23%.
Disclosure: I do not own any stocks mentioned in this article.
