Investment firm Third Avenue Management (Trades, Portfolio) sold shares of the following stocks during the first quarter.
The Johnson Controls International PLC (JCI, Financial) stake was closed, impacting the portfolio by -2.25%.
The company, which manufactures, installs and services HVAC systems and industrial refrigeration systems, has a market cap of $33.79 billion and an enterprise value of $46.62 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. Its return on equity of 10.39% and return on assets of 4.16% are underperforming 54% of companies in the Global Engineering and Construction industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.90.
Dodge & Cox is the largest shareholder of the company among the gurus with 10.3% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 4.59% and Chris Davis (Trades, Portfolio) with 2.42%.
The firm's position in PNC Financial Services Group Inc. (PNC, Financial) was trimmed by 87.57%. The trade had an impact of -1.95% on the portfolio.
The financial services company, which offers retail, corporate and institutional banking, has a market cap of $70.59 billion and an enterprise value of $90.91 billion.
GuruFocus gives the company a profitability and growth rating of 3 out of 10. The ROE of 11.27% and ROA of 1.47% are outperforming 68% of companies in the Global Banks - Regional - U.S. industry. Its financial strength is rated 3 out of 10. The cash-debt ratio of 0.62 is below the industry median of 2.12.
The company's largest shareholder among the gurus is Barrow, Hanley, Mewhinney & Strauss with 0.47% of outstanding shares, followed by the T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.32% and Diamond Hill Capital (Trades, Portfolio) with 0.27%.
The firm exited its Amgen Inc. (AMGN, Financial) position. The transaction had an impact of -1.81% on the portfolio.
The company discovers, develops and manufactures human therapeutics. It has a market cap of $116.43 billion and an enterprise value of $119.8 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 8.19% and ROA of 2.85% are outperforming 81% of companies in the Global Biotechnology industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.91 is below the industry median of 73.06.
Pioneer Investments (Trades, Portfolio) is the largest guru shareholder of the company with 0.21% of outstanding shares, followed by Richard Pzena (Trades, Portfolio) with 0.2%.
Third Avenue divested of its Reliance Steel & Aluminum Co. (RS, Financial) holding, impacting the portfolio by -1.48%.
The metal processing and services company has a market cap of $6.64 billion and an enterprise value of $8.58 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of 14.97% and ROA of 8.53% are outperforming 76% of companies in the Global Steel industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.42.
The company's largest guru shareholder is Chuck Royce (Trades, Portfolio) with 1.43% of outstanding shares, followed by Pioneer Investments with 0.54% and NWQ Managers (Trades, Portfolio) with 0.21%.
The firm closed its position in EOG Resources Inc. (EOG, Financial). The trade had an impact of -1.29% on the portfolio.
The oil and gas producer has a market cap of $68.7 billion and an enterprise value of $74.32 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 21.32% and ROA of 10.80% are outperforming 87% of companies in the Global Oil and Gas E&P industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.13 is below the industry median of 0.51.
Pioneer Investments is the company's largest guru shareholder with 0.7% of outstanding shares, followed by Stanley Druckenmiller (Trades, Portfolio) with 0.09% and John Rogers (Trades, Portfolio) with 0.07%.
The Masco Corp. (MAS, Financial) holding was closed, impacting the portfolio by -1.18%.
The company, which provides building and construction materials, has a market cap of $11.69 billion and an enterprise value of $14.56 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROA of 9.95% and ROC of 89.23% are outperforming 84% of companies in the Global Building Materials industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.15 is below the industry median of 0.53.
The company's largest guru shareholder is Pioneer Investments with 2.99% of outstanding shares, followed by Joel Greenblatt (Trades, Portfolio) with 0.2% and Ron Baron (Trades, Portfolio) with 0.1%.
The firm closed its Kimco Realty Corp. (KIM, Financial) position. The trade had an impact of -0.94% on the portfolio.
The real estate investment trust owns and operates neighborhood and community shopping centers in North America. It has a market cap of $6.07 billion and an enterprise value of $11.01 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 8.21% and ROA of 4.28% are outperforming 51% of companies in the Global REIT - Retail industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.05 is below the industry median of 0.06.
With 0.71% of outstanding shares, Pioneer Investments is the company's largest guru shareholder, followed by Davis with 0.11% and John Buckingham (Trades, Portfolio) with 0.04%.
The Weyerhaeuser Co. (WY, Financial) holding was reduced by 5.05%, impacting the portfolio by -0.46%.
The real estate investment trust has a market cap of $27.55 billion and an enterprise value of $33.14 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. While the ROE of 7.67% is underperforming the sector, the ROA of 3.76% is outperforming 53% of companies in the Global Lumber and Wood Production industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.13 is below the industry median of 0.37.
Another notable guru shareholder of the company is the T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.51% of outstanding shares, followed by Manning & Napier Advisors Inc. with 0.49%.
Disclosure: I do not own any stocks mentioned in this article.
