In the fourth quarter, the FPA Capital Fund (Trades, Portfolio) reduced or exited its positions in the following stocks.
The fund reduced its holding of Arris International PLC (ARRS, Financial) by 40.73%, impacting the portfolio by -4.08%.
The manufacturer of telecommunications equipment has a market cap of $4.72 billion and an enterprise value of $5.54 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity (ROE) of 5.38% and return on assets (ROA) of 2.21% are underperforming 53% of companies in the Global Communication Equipment industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.64 is below the industry median of 2.24.
Hotchks & Wiley is the company's largest shareholder among the gurus with 53.94% of outstanding shares, followed by First Pacific Advisors (Trades, Portfolio) with 12.17%, the fund with 3.17% and Chuck Royce (Trades, Portfolio) with 2.79%.
FPA Capital exited its position in Dana Inc. (DAN, Financial). The trade had an impact of -2.73% on the portfolio.
The auto parts supplier has a market cap of $4.82 billion and an enterprise value of $6.13 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 65.66% and ROA of 13.43% are outperforming 91% of companies in the Global Auto Parts industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.33 is below the industry median of 0.47.
The company's largest guru shareholder is Mario Gabelli (Trades, Portfolio) with 3.24% of outstanding shares, followed by Royce with 0.81% and Ken Fisher (Trades, Portfolio) with 0.48%.
The Helmerich & Payne Inc. (HP, Financial) position was trimmed by 47.43%. The transaction had an impact of -2.49% on the portfolio.
The contract drilling company has a market cap of $7.41 billion and an enterprise value of $7.34 billion.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of -2.96% and ROA of -1.94% are outperforming 53% of companies in the Global Oil and Gas Drilling industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.15 is above the industry median of 0.37.
First Pacific Advisors (Trades, Portfolio) is the company's largest shareholder among the gurus with 0.6% of outstanding shares, followed by Royce with 0.48%, Fisher with 0.34% and Prem Watsa (Trades, Portfolio) with 0.32%.
FPA reduced its position in Cubic Corp. (CUB, Financial) by 60.94%. The trade had an impact of -2.3% on the portfolio.
The company, which develops technology systems and products for the defense industry, has a market cap of $1.63 billion and an enterprise value of $1.81 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of -1.66% and ROA of -0.79% are underperforming 79% of companies in the Global Aerospace and Defense industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.24 is below the industry median of 0.43.
The company's largest guru shareholder is Richard Pzena (Trades, Portfolio) with 3.48% of outstanding shares, followed by Jim Simons (Trades, Portfolio) with 0.64% and Barrow, Hanley, Mewhinney & Strauss with 0.5%.
The fund reduced its Western Digital Corp. (WDC, Financial) holding by 21.58%. The trade had an impact of -2.02% on the portfolio.
The manufacturer of hard disk drives has a market cap of $23.93 billion and an enterprise value of $30.14 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The ROE of 12.89% and ROA of 4.89% are underperforming 65% of companies in the Global Data Storage industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.53 is below the industry median of 1.44.
With 0.87% of outstanding shares, David Tepper (Trades, Portfolio) is the company's largest guru shareholder, followed by Simons with 0.49% and PRIMECAP Management (Trades, Portfolio) with 0.36%.
The fund closed its Foot Locker Inc. (FL, Financial) position, impacting the portfolio by -1.91%.
The footwear retailer has a market cap of $5.61 billion and an enterprise value of $4.85 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 19.03% and ROA of 13.62% are outperforming 84% of companies in the Global Footwear and Accessories industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 7.06 is above the industry median of 1.50.
The company's largest guru shareholder is Simons with 0.59% of outstanding shares, followed by Ray Dalio (Trades, Portfolio) with 0.2% and Joel Greenblatt (Trades, Portfolio) with 0.19%.
The fund closed its Federated Investors Inc. (FII, Financial) holding. The trade had an impact of -1.35% on the portfolio.
The asset management company has a market cap of $3.5 billion and an enterprise value of $3.44 billion.
GuruFocus gives the company a profitability and growth rating of 5 out of 10. The ROE of 32.68% and ROA of 18.44% are outperforming 85% of companies in the Global Asset Management industry. Its financial strength is rated 5 out of 10. The cash-debt ratio is 0.92.
Royce is the company's largest shareholder among the gurus with 2.49% of outstanding shares, followed by Ronald Muhlenkamp (Trades, Portfolio) with 0.29%.
Disclosure: I do not own any stocks mentioned in this article.
