Ronald Muhlenkamp (Trades, Portfolio), founder and president of Muhlenkamp & Co. Inc. and portfolio manager for its mutual fund, acquired half a dozen new holdings in the fourth quarter, but his biggest transactions were divestitures.
Muhlenkamp’s most significant fourth-quarter transaction was the sale of his 173,364-share stake in Medtronic PLC (MDT, Financial), a medical equipment company based in Dublin. Muhlenkamp sold the stake for an average price of $75.44 per share. The divestiture had a -3.41% impact on Muhlenkamp’s portfolio.
James Barrow (Trades, Portfolio) is Medtronic’s leading shareholder among the gurus. Barrow has 30,282,119 shares in his portfolio. That is 1.68% of Medtronic’s outstanding shares and 3.47% of Barrow’s total assets.
Medtronic has a P/E of 44.8, a forward P/E of 15.1, a P/B of 2 and a P/S of 3.5. GuruFocus gives Medtronic a Financial Strength rating of 7/10 and a Profitability and Growth rating of 7/10.
Medtronic sold for $73.4 per share Friday.
Muhlenkamp sold his 135,712-share stake in State Street Corp. (STT, Financial), a Boston-based financial services holding company, for an average price of $69.5 per share. The deal had a -2.68% impact on Muhlenkamp’s portfolio.
Barrow is State Street’s leading shareholder among the gurus with a stake of 10,082,912 shares. The holding is 2.5% of State Street’s outstanding shares and 1% of Barrow’s total assets.
State Street has a P/E of 12.8, a forward P/E of 10.1, a P/B of 1.2 and a P/S of 2.2. GuruFocus gives State Street a Financial Strength rating of 6/10 and a Profitability and Growth rating of 6/10.
State Street sold for $54.68 per share Friday.
The guru sold his 81,685-share stake in Asbury Automotive Group Inc. (ABG, Financial), an operator of automobile dealerships with a headquarters in Atlanta. Muhlenkamp sold the stake for an average price of $75.93 per share in a deal that had a -1.95% impact on his portfolio.
Michael Dell (Trades, Portfolio) is Asbury Automotive Group’s leading shareholder among the gurus with a stake of 2,225,596 shares. The stake is 8.77% of Asbury Automotive Group’s outstanding shares and 24.08% of Dell’s total assets.
Asbury Automotive Group has a P/E of 9.4, a forward P/E of 7.5, a P/B of 4 and a P/S of 0.2. GuruFocus gives Asbury Automotive Group a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.
Asbury Automotive Group sold for $49.05 per share Friday.
Muhlenkamp sold his 178,179-share stake in Innovative Solutions and Support Inc. (ISSC, Financial), an aerospace company based in Exton, Pennsylvania. Muhlenkamp sold the shares for an average price of $2.57. The transaction had a -0.14% impact on his portfolio.
Jim Simons (Trades, Portfolio) is Innovative Solutions’ leading shareholder among the gurus with a stake of 204,925. The stake is 1.21% of Innovative Solutions’ outstanding shares.
Innovative Solutions has a forward P/E of 9.5, a P/B of 1.4 and a P/S of 2.3. GuruFocus gives Innovative Solutions a Financial Strength rating of 7/10 and a Profitability and Growth rating of 5/10.
Innovative Solutions sold for $2.65 per share Friday.
Muhlenkamp purchased an 831,070-share stake in Dallas-based Alerian MLP ETF (AMLP, Financial) for an average price of $12.5 per share. The deal had a 3.01% impact on Muhlenkamp’s portfolio.
Alerian MLP ETF sold for $8.53 per share Friday.
Muhlenkamp bought modest stakes in Energy Transfer Partners LP (ETP, Financial), Kinder Morgan Inc. (KMI, Financial), Williams Companies Inc. (WMB, Financial), Good Times Restaurants Inc. (GTIM, Financial) and Syneron Medical Ltd. (ELOS, Financial) in the fourth quarter.
Muhlenkamp boosted his stake in Outerwall Inc. (OUTR, Financial), a Bellevue, Washington-based operator of DVD and game rental kiosks, by more than 116%. Muhlenkamp acquired 114,820 shares for an average price of $55.57 per share. The transaction had a 1.26% impact on Muhlenkamp’s portfolio.
Muhlenkamp’s stake is now 213,770 shares, which is 1.29% of Outerwall’s outstanding shares and 2.35% of Muhlenkamp’s total assets. Outerwall’s leading shareholder among the gurus is Joel Greenblatt (Trades, Portfolio) with a stake of 674,188 shares. Greenblatt’s stake is 4.06% of Outerwall’s outstanding shares and 0.37% of the guru’s total assets.
Outerwall has a P/E of 7.5, a forward P/E of 5 and a P/S of 0.2. GuruFocus gives Outerwall a Financial Strength rating of 5/10 and a Profitability and Growth rating of 8/10.
Outerwall sold for $26.72 per share Friday.
Muhlenkamp raised his stake in Spirit Airlines Inc. (SAVE), a low-cost commercial airline based in Miramar, Florida, by more than 12%. Muhlenkamp purchased 21,356 shares for an average price of $40.51 per share. The deal had a 0.26% impact on the guru’s portfolio.
Muhlenkamp’s stake in Spirit is now 193,105 shares, which is 0.27% of Spirit’s outstanding shares and 2.31% of the guru’s total assets. PRIMECAP Management (Trades, Portfolio) is Spirit’s leading shareholder among the gurus with a 926,824-share stake in the airline. PRIMECAP’s stake is 1.3% of Spirit’s outstanding shares and 0.04% of the guru’s total assets.
Spirit has a P/E of 10.8, a forward P/E of 10.8, a P/B of 2.6 and a P/S of 1.5. GuruFocus gives Spirit a Financial Strength rating of 8/10 and a Profitability and Growth rating of 6/10.
Spirit sold for $44.43 per share Friday.
Muhlenkamp trimmed his stake in ARRIS International PLC (ARRS), a Suwanee, Georgia-based telecommunications equipment company, by nearly 17%, selling 100,760 shares for an average price of $29.46 per share. The deal had a -0.77% impact on Muhlenkamp’s portfolio.
Muhlenkamp’s stake in ARRIS International is now 493,075 shares – 0.34% of ARRIS International’s outstanding shares and 4.53% of Muhlenkamp’s total assets. It is the seventh-most valuable stake in his portfolio.
ARRIS International’s leading shareholder among the gurus is HOTCHKIS & WILEY with a stake of 8,064,818 shares. The stake is 5.5% of ARRIS International’s outstanding shares and 0.84% of HOTCHKIS & WILEY’s total assets.
ARRIS International has a P/E of 13.4, a forward P/E of 9.9, a P/B of 1.9 and a P/S of 0.7. GuruFocus gives ARRIS International a Financial Strength rating of 5/10 and a Profitability and Growth rating of 7/10.
ARRIS International sold for $23.06 per share Friday.
Muhlenkamp pruned his stake in Universal Display Corp. (OLED), an Ewing, New Jersey-based lighting and display company, by more than 32%. The guru sold 59,995 shares for an average price of $44.51 per share. The transaction had a -0.6% impact on Muhlenkamp’s portfolio.
Muhlenkamp’s stake in Universal Display is now 126,765 shares, which is 0.27% of Universal Display’s outstanding shares and 2.07% of Muhlenkamp’s total assets. Universal Display’s leading shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with a stake of 1,191,075 shares. PRIMECAP’s stake is 2.55% of Universal Display’s outstanding shares and 0.07% of the guru’s total assets.
Universal Display has a P/E of 204.1, a forward P/E of 28.2, a P/B of 4.6 and a P/S of 11.3. GuruFocus gives Universal Display a Financial Strength rating of 9/10 with no debt and a Profitability and Growth rating of 5/10.
Universal Display sold for $44.9 per share Friday.
Muhlenkamp shaved nearly 53% of his stake in Rex Energy Corp. (REXX), a State College, Pennsylvania-based oil and gas company. Muhlenkamp sold 840,431 shares for an average price of $1.87 per share. The deal had a -0.51% impact on the guru’s portfolio.
Muhlenkamp’s stake in Rex Energy is now 749,089 shares, which is 1.34% of Rex Energy’s outstanding shares and 0.24% of Muhlenkamp’s total assets. Rex Energy’s leading shareholder among the gurus is PRIMECAP Management (Trades, Portfolio) with a stake of 3,645,000 shares. The stake is 6.54% of Rex Energy’s outstanding shares.
Rex Energy has a forward P/E of 16.7, a P/B of 0.1 and a P/S of 0.2. GuruFocus gives Rex Energy a Financial Strength rating of 2/10 and a Profitability and Growth rating of 6/10.
Rex Energy sold for 63 cents per share Friday.
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