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Tiziano Frateschi
Tiziano Frateschi
Articles (2159)  | Author's Website |

Richard Snow Buys Carbo Ceramics, Sells Abercombie & Fitch

Snow's most heavily weighted trades during the 4th quarter

February 09, 2016 | About:

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. His reputation grew and others began asking him to manage their assets.

According to GuruFocus' Real-Time Picks, the following are some of his trades during the fourth quarter.

The guru reduced its stake in Silicon Graphics International Corp. (SGI) by 15.48% with an impact of -0.06% on the portfolio.

The company develops, markets and sells servers, enterprise-class storage, differentiating software and designed-to-order solutions for data center deployments, with support and professional services. The second quarter results marked its return to non-GAAP profitability with improvements in both the top and bottom line. GAAP net loss for the second quarter was 1 cent per share compared to 30 cents per share in the second quarter of 2015.

GuruFocus gives the stock a profitability and growth rating of 3 out of 10, with negative returns of ROE -55.12% and ROA -8.24% that are underperforming 95% of the companies in the Global Computer Systems industry. Financial strength has a rating of 6 out of 10, with a cash-to-debt of 0.98 that is below the industry median of 1.24.

Chuck Royce (Trades, Portfolio) is the largest shareholder of the company among the gurus with 8.84% of outstanding shares, followed by Richard Snow (Trades, Portfolio) with 5.24% and Jim Simons (Trades, Portfolio) with 0.73%.

Snow reduced his stake in Abercrombie & Fitch Co. (ANF) by 23.38% with an impact of -1.13% on the portfolio.

The company is a specialty retailer that sells casual apparel, including knit and woven shirts, graphic t-shirts, fleece and jeans under the Abercrombie & Fitch, abercrombie kids and Hollister brands. Third quarter results exceeded its expectations coming into the quarter and provide the strongest validation yet that its initiatives are working. Net sales for the third quarter were approximately flat on a constant currency basis, but was down 4% on a reported basis over the same period a year ago.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with negative returns of ROE -1.67% and ROA -0.90% that are underperforming 79% of the companies in the Global Apparel Stores industry. Financial strength has a rating of 6 out of 10, with cash to debt of 1.20 that is above industry median of 0.78.

The company’s largest shareholder among the gurus is Richard Snow (Trades, Portfolio) with 5.65% of outstanding shares, followed by Chuck Royce (Trades, Portfolio) with 0.15% and Paul Tudor Jones (Trades, Portfolio) with 0.04%.

Snow also increased his stake in Carbo Ceramics Inc. (CRR) by 7.55% with an impact of 0.06% on the portfolio.

The company is a supplier of ceramic proppant and provides fracture simulation software, fracture design, engineering and consulting services and a broad range of technologies for spill prevention, containment and countermeasures. During the third quarter, revenues declined 11% versus last year and sales had a decline of 12% versus last year's third quarter.

GuruFocus gives the stock a profitability and growth rating of 7 out of 10, with negative returns of ROE -15.30 and ROA -11.98% that are over performing 81% of the companies in the Global Oil & Gas Equipment & Services industry. Financial strength has a rating of 7 out of 10, with a cash-to-debt of 0.90 that is above the industry median of 0.43

Snow is the largest guru shareholder with 5.76% of outstanding shares, followed by Chuck Royce (Trades, Portfolio) with 2.21%, Tom Gayner (Trades, Portfolio) with 0.92% and Murray Stahl (Trades, Portfolio) with 0.07%.

Snow increased his stake in LB Foster Co. (FSTR) by 0.23%.

The company manufactures and distributes products and services for rail, construction, energy, and utility markets. The company classifies its activities into three business segments: Rail Products, Construction Products, and Tubular Products. Third quarter sales increased by 4.9% and adjusted gross profit margin was 20.9% compared to 21.0% in the prior year. Due to the businesses acquired since the third quarter of 2014, the company reported an increase of 12.1% for adjusted EBITDA.

GuruFocus gives the stock a profitability and growth rating of 6 out of 10, with easy returns of ROE -12.79% and ROA -7.06% that are under performing 90% of the companies in the Global Railroads industry. Financial strength has a rating of 6 out of 10, with a cash-to-debt of 0.16 that is below the industry median of 0.35.

Snow is the largest guru shareholder with 6.13% of outstanding shares, followed by Chuck Royce (Trades, Portfolio) with 4.37%, Jim Simons (Trades, Portfolio) with 1.78%, David Dreman (Trades, Portfolio) with 0.49% and James Barrow (Trades, Portfolio) with 0.32%.

About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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