Michael Price (Trades, Portfolio) is the 271st richest person in the world, according to Forbes. A renowned money manager, he learned finance as a $200-a-week research assistant under Max Heine. The following are his largest trades of the second quarter:
The guru reduced his stake in Boston Scientific Corp. (BSX) by 48.28% with an impact of -2.22% on the portfolio.
The company is a developer, manufacturer and marketer of medical devices that are used in a range of interventional medical specialties.
Second quarter sales were $2.126 billion compared to the company's guidance range for the quarter of $2.010 billion to $2.060 billion and GAAP loss of $207 million, or -15 cents per share, compared to earnings of 8 cents a year ago.
GuruFocus gives the stock a profitability and growth rating of 5 out of 10 with return on equity (ROE) of -5.39% and return on assets (ROA) of -1.94% that are underperforming 58% of the companies in the Global Medical Devices industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.08 that is below the industry median of 2.23.
The largest shareholder among the gurus is Vanguard Health Care Fund (Trades, Portfolio) with 3.94% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 3.13%, Jim Simons (Trades, Portfolio) with 0.36%, Diamond Hill Capital (Trades, Portfolio) with 0.36% and Samuel Isaly (Trades, Portfolio) with 0.29%.
The guru closed his stake in Blount International Inc. (BLT) with an impact of -1.42% on the portfolio.
It is an industrial company. It designs, manufactures and markets equipment, replacement and component parts and accessories for professionals and consumers in select end markets under its proprietary brand names.
Fourth quarter sales decreased 13.6% from the same quarter of a year before and operating loss for the fourth quarter of 2015 was $24.4 million compared to $2.5 million in the same quarter of the previous year.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of -38.81% and ROA of -6.58% that are underperforming 95% of the companies in the Global Tools & Accessories industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.07 that is below the industry median of 1.07.
The guru bought 205,800 shares in Outerwall Inc. (OUTR) with an impact of 1.15% on the portfolio.
The company is a provider of automated retail solutions offering convenient products and services that benefit consumers and drive incremental retail traffic and revenue for retailers.
During the second quarter it generated $60.1 million in free cash flow and repurchased $2.6 million in face value of 2021 Notes and reduced the outstanding balance on its credit facility by $44.7 million.
GuruFocus gives the stock a profitability and growth rating of 8 out of 10 with ROE of 1,385.14% and ROA of 10.25% that are outperforming 85% of the companies in the Global Specialty Retail industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.25 that is below the industry median of 0.99.
Steven Cohen (Trades, Portfolio) is the largest shareholder among the gurus with 2.84% of outstanding shares followed by Simons with 2.771%, Joel Greenblatt (Trades, Portfolio) with 2.7% and Price with 1.2%.
The investor increased his stake in Ally Financial Inc. (ALLY) by 136.95% with an impact of 0.84% on the portfolio.
The company offers financial products and services to automotive dealers and their customers. It is engaged in Dealer Financial Services and Mortgage, Corporate and Other business.
GuruFocus gives the stock a profitability and growth rating of 4 out of 10 with ROA of -1.02% and ROC of 0.73% that are underperforming 93% of the companies in the Global Specialty Finance industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.09 that is below the industry median of 2.30.
The largest shareholder among the gurus is Richard Perry (Trades, Portfolio) with 3.26% of outstanding shares followed by Bill Nygren (Trades, Portfolio) with 3.24%, First Pacific Advisors (Trades, Portfolio) with 2.23%, Howard Marks (Trades, Portfolio) with 2.15% and Jeremy Grantham (Trades, Portfolio) with 0.54%.
The guru increased his stake in Westlake Chemical Corp. (WLK) by 131.70% with an impact of 0.75% on the portfolio.
The company is a manufacturer and marketer of basic chemicals, vinyls, polymers and fabricated products. It operates in two principal business segments, Olefins and Vinyls.
Second quarter net income decreased $1.1 million compared to second quarter 2015 net income, and cash flow from operations was $72.7 million, a decrease of $44.0 million compared to second-quarter 2015 cash flow from operations of $116.7 million.
GuruFocus gives the stock a profitability and growth rating of 7 out of 10 with ROE of 15.98% and ROA 9.39% that are outperforming 77% of the companies in the Global Specialty Chemicals industry. Financial strength has a rating of 7 out of 10 with cash to debt of 1.48 that is above the industry median of 0.83.
Chuck Royce (Trades, Portfolio) is the largest shareholder among the gurus with 0.68% followed by Louis Moore Bacon (Trades, Portfolio) with 0.34%, Cohen with 0.17%, Caxton Associates (Trades, Portfolio) with 0.12% and T Boone Pickens (Trades, Portfolio) with 0.11%.
The investor raised his stake in Citizens Financial Group Inc. (CFG) by 166.67% with an impact of 0.53% on the portfolio.
It is a bank holding company; through its subsidiaries, it provides retail and commercial banking products and services.
Compared with the first quarter, net income increased 9% and and diluted earnings per common share increased 12%.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROE of 4.51% and ROA of 0.65% that are underperforming 77% of the companies in the Global Banks - Regional - U.S. industry. Financial strength has a rating of 5 out of 10 with cash to debt of 0.30 that is below the industry median of 2.30.
The largest shareholder among the gurus is HOTCHKIS & WILEY with 4.22% of outstanding shares followed by Chris Davis (Trades, Portfolio) with 2.07%, Richard Pzena (Trades, Portfolio) with 0.4%, Robert Olstein (Trades, Portfolio) with 0.11% and Charles Brandes (Trades, Portfolio) with 0.04%.
The investor reduced his stake Aerojet Rocketdyne Holdings Inc. (AJRD) by 76.41% with an impact of -0.48% on the portfolio.
It is an aerospace and defense company. It is engaged in providing propulsion and energetics to its space, missile defense, strategic, tactical missile and armaments customers throughout domestic and international markets.
Net sales for the second quarter of fiscal 2016 totaled $408.4 million compared to $457.8 million for the second quarter of fiscal 2015 and net income was 9 cents diluted income per share, compared to 25 cents diluted income per share, for the same quarter of fiscal 2015.
GuruFocus gives the stock a profitability and growth rating of 6 out of 10 with ROA of -1.00% and ROC of 5.49% that are underperforming 79% of the companies in the Global Aerospace & Defense industry. Financial strength has a rating of 4 out of 10 with cash to debt of 0.29 that is below the industry median of 0.43.
Mario Gabelli (Trades, Portfolio) is the company's second-largest shareholder among the gurus with 6.86% of outstanding shares followed by Simons with 1.92%, Royce with 1.02% and Private Capital (Trades, Portfolio) with 0.97%.
Disclosure: I do not own any shares of stocks mentioned in this article.
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