Hotchkis & Wiley was founded in 1980 and is based in Los Angeles. The firm follows a value strategy, focusing on important investment parameters such as a company's tangible assets, sustainable cash flow and potential for improving business performance.
Hotchkis & Wiley sold the following stocks in the third quarter and had good gains of 83%, 62% and 52% from UnitedHealth Group, Lowe's Companies and Symetra Financial Corp.
The firm had held 1,743,984 shares of UnitedHealth Group Inc. (UNH). The position was established in Q1 2013 for an average price of $54.89 per share. The firm gained 83% on the investment, and the deal had an impact of -0.75% on the portfolio.
UnitedHealth Group has a market cap of $110.54 billion, and is a health care company aimed at making care affordable. It has a P/E of 18.40, a forward P/E ratio of 15.92, a P/B of 3.35 and a P/S of 0.76. GuruFocus has given the stock a Financial Strength rating of 7/10 and a Profitability and Growth rating of 8/10.
Louis Moore Bacon (Trades, Portfolio) and Lee Ainslie (Trades, Portfolio) were other investors who exited their positions in the company.
The firm also exited its position in Carnival Corp. (CCL). Over the last four quarters, the firm has been reducing its stake, then sold the holding for an average $50.9 per share. The deal had an impact of -0.23% on his portfolio.
Carnival has a market cap of $40.88 billion. It has a P/E of 28.07, a forward P/E ratio of 15.34, a P/B of 1.65 and a P/S of 2.52. GuruFocus has given the stock a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Louis Moore Bacon (Trades, Portfolio) and Jim Simons (Trades, Portfolio) also sold their holdings.
Lowe's Companies Inc. (LOW) was another stock that lost its position in Hotchkis & Wiley's portfolio. The firm bought new shares at an average of $27.48 per share in Q3 2012 and this quarter sold the stake for an average $67.88 per share, gaining 62%. The deal had an impact of -0.21% on the portfolio.
Lowe's Companies has a market cap of $68.64 billion, and serves homeowners, renters and commercial business customers. It has a P/E of 23.53, a forward P/E ratio of 22.73, a P/B of 8.30 and a P/S of 1.21. GuruFocus has given the stock a Financial Strength rating of 8/10 and a Profitability and Growth rating of 8/10.
Steve Mandel (Trades, Portfolio) also closed his position during the quarter.
The firm also sold its 1,713,387 shares of CA Inc. (CA). It gained 15% on the investment.Â
CA has a market cap of $11.91 billion, and is a provider of enterprise information technology software and solution. It has a P/E of 15.86, a forward P/E ratio of 11.56, a P/B of 1.99 and a P/S of 2.91. GuruFocus has given the stock a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10.
The firm also exited its position in McDonald's Corp. (MCD) but did not have any gain on this investment. The deal had an impact of -0.15% on the portfolio.
The company has a market cap of $106.29 billion, and operates McDonald's restaurants in the food service industry. It has a P/E of 25.02, a forward P/E ratio of 21.79, a P/B of 12.83 and a P/S of 4.33. GuruFocus has given the stock a Financial Strength rating of 8/10 and a Profitability and Growth rating of 7/10.
Larry Robbins (Trades, Portfolio), Caxton Associates (Trades, Portfolio), Leon Cooperman (Trades, Portfolio), T Rowe Price Equity Income Fund (Trades, Portfolio) and Paul Tudor Jones (Trades, Portfolio) are other gurus who exited their stakes.
H&R Block Inc. (HRB) was another stock the firm sold during the quarter. Hotchkis & Wiley purchased 1,402,800 shares at an average $29.11 per share in Q3 2013 and this quarter sold it at $33.86 per share and gained 10%. The deal had an impact of -0.11% on the portfolio.
The company has a market cap of $7.61 billion, and is engaged in providing tax preparation, banking and other services. It has a P/E of 20.60, a forward P/E ratio of 15.70 and a P/S of 2.89. GuruFocus has given the stock a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
The firm had held 770,214 shares of Fresh Del Monte Produce Inc. (FDP) and in the third quarter, sold the stake at an average price of $38.94 per share and gained 39% on the investment. The deal had an impact of -0.11% on the portfolio.
The company has a market cap of $2.17 billion, and sources, transports and markets fresh and fresh-cut produce together with prepared food products in Europe, Africa and the Middle East. It has a P/E of 16.33, a forward P/E ratio of 16.78, a P/B of 1.19 and a P/S of 0.56. GuruFocus has given Catamaran a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
It also exited its position in Synovus Financial Corp. (SNV). This quarter the fund sold the stake and gained 25%. The deal had an impact of -0.05% on the portfolio.
The company has a market cap of $4.09 billion, and is a financial services company and a registered bank holding company. It has a P/E of 19.99, a forward P/E ratio of 16.47, a P/B of 1.42 and a P/S of 3.88. GuruFocus has given the stock a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
Paul Tudor Jones (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Steven Cohen (Trades, Portfolio) also sold their holdings in Synovus.Â
