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David Goodloe
David Goodloe
Articles (769) 

Richard Snow Trims 2 Stakes in May

Guru reduces holdings in Carbo Ceramics, OFG Bancorp

June 09, 2016 | About:
Richard Snow (Trades, Portfolio), founder, president and CIO of Snow Capital Management LP, reduced his stakes in two companies in May – Carbo Ceramics Inc. (NYSE:CRR) and OFG Bancorp (NYSE:OFG).

Snow trimmed his stake in Carbo Ceramics, a Houston-based oilfield services company, by more than 62% on May 11. The guru sold 842,448 shares for $11.59 per share, leaving him with a stake of 512,041 shares. The transaction had a -0.43% impact on Snow’s portfolio.

Snow remained Carbo Ceramics’ leading shareholder among the gurus after the sale. His stake is 2.18% of Carbo Ceramics’ outstanding shares and 0.26% of Snow’s total assets.

Carbo Ceramics has a P/B of 0.5 and a P/S of 1.3. GuruFocus gives Carbo Ceramics a Financial Strength rating of 6/10 and a Profitability and Growth rating of 4/10 with an ROE of -15.42% that is lower than 63% of the companies in the Global Oil & Gas Equipment & Services industry and an ROA of -12.02% that is lower than 73% of the companies in that industry.

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Carbo Ceramics sold for $14.86 per share Thursday afternoon. The DCF Calculator gives Carbo Ceramics a fair value of $-49.01.

Snow reduced his stake in OFG Bancorp, a San Juan, Puerto Rico-based financial holding company, by nearly 17%, selling 391,722 shares for $9 per share on May 25. The deal had a -0.16% impact on Snow’s portfolio.

The remaining stake of 1,941,717 shares is 4.42% of OFG Bancorp’s outstanding shares and 0.77% of Snow’s total assets. Snow is OFG Bancorp’s leading shareholder among the gurus.

OFG Bancorp has a P/B of 0.5 and a P/S of 1.2. GuruFocus gives OFG Bancorp a Financial Strength rating of 6/10 and a Profitability and Growth rating of 7/10 with an ROE of 0.09% that is lower than 92% of the companies in the Global Banks – Regional – U.S. industry and ROA of 0.20% that is lower than 87% of the companies in that industry.

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OFG Bancorp sold for $8.73 per share Thursday. The DCF Calculator gives OFG Bancorp a fair value of $-1.28.

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About the author:

David Goodloe
I'm a journalist by training. I grew up in Arkansas and earned my B.A. at the University of Arkansas. I earned my master's degree at the University of North Texas. My background includes stints at newspapers in Arkansas and Texas and teaching news writing and news editing to students at the University of Oklahoma and Richland College here in Dallas. I'm a writer/editor at GuruFocus.

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