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Tiziano Frateschi
Tiziano Frateschi
Articles (1557)  | Author's Website |

Third Avenue Value Fund Sells PNC Financial, Masco

Guru’s largest sales of the second quarter.

Third Avenue is a deep value investment firm. During the second quarter it sold shares of the following stocks.

The firm sold out its PNC Financial Services Group Inc. (PNC) stake, impacting the portfolio by -4.1%.

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The company operates in the financial services domain and has a market cap of $63.85 billion and an enterprise value of $84.17 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. The return on equity of 11.27% and return on assets of 1.47% are outperforming 68% of companies in the Global Banks - Regional - US industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.62 is below the industry median of 2.12.

Spiros Segalas (Trades, Portfolio) is the largest shareholder of the company among the gurus with 0.53% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 0.47% and T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.32%.

The holding of Johnson Controls International PLC (JCI) was exited. The trade had an impact of -3.95% on the portfolio.

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The company is a manufacturer of HVAC systems and building management systems. It has a market cap of $32.08 billion and an enterprise value of $44.92 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 10.39% and the return on assets of 4.16% are underperforming 54% of companies in the Global Engineering and Construction industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.90.

The largest shareholder of the company among the gurus is Dodge & Cox with 10.3% of outstanding shares followed by Barrow, Hanley, Mewhinney & Strauss with 4.59% and Chris Davis (Trades, Portfolio) with 2.42%.

Amgen Inc. (AMGN) stake was closed. The transaction had an impact of -3.35% on the portfolio.

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The company discovers and develops human therapeutics. It has a market cap of $126.39 billion and an enterprise value of $129.76 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 8.19% and return on assets of 2.85% are outperforming 81% of companies in the Global Biotechnology industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.91 is below the industry median of 73.06.

PRIMECAP Management (Trades, Portfolio) is the largest shareholder of the company among the gurus with 3.24% of outstanding shares followed by Jim Simons (Trades, Portfolio) with 0.59% and Pioneer Investments (Trades, Portfolio) with 0.21%.

The guru exited its Reliance Steel & Aluminum Co. (RS)’s position, impacting the portfolio by -2.91%.

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The company provides metal processing and inventory management services. It has a market cap of $6.39 billion and an enterprise value of $8.32 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 14.97% and the return on assets of 8.53% are outperforming 76% of companies in the Global Steel industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.07 is below the industry median of 0.42.

The largest shareholder of the company among the gurus is Chuck Royce (Trades, Portfolio) with 1.43% of outstanding shares followed by Pioneer Investments (Trades, Portfolio) with 0.54%, NWQ Managers (Trades, Portfolio) with 0.21% and Caxton Associates (Trades, Portfolio) with 0.18%.

The stake of Masco Corp. (MAS) was closed. The trade had an impact of -2.28% on the portfolio.

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The company is a provider of homebuilding solutions in the U.S. It has a market cap of $11.93 billion and an enterprise value of $14.8 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on assets of 9.95% and return on capital of 66.88% are outperforming 84% of companies in the Global Building Materials industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.15 is below the industry median of 0.53.

Pioneer Investments (Trades, Portfolio) is the largest shareholder of the company among the gurus with 2.39% of outstanding shares followed by Steven Cohen (Trades, Portfolio) with 0.3% and Joel Greenblatt (Trades, Portfolio) with 0.25%.

The EOG Resources Inc. (EOG)’s holding was exited, impacting the portfolio by -2.26%.

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The crude oil and natural gas producer has a market cap of $71.98 billion and an enterprise value of $77.6 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 21.32% and the return on assets of 10.80% are outperforming 86% of companies in the Global Oil and Gas E&P industry. It financial strength is rated 6 out of 10. The cash-debt ratio of 0.13 is below the industry median of 0.51.

The largest shareholder of the company among the gurus is Pioneer Investments (Trades, Portfolio) with 0.69% of outstanding shares followed by PRIMECAP Management (Trades, Portfolio) with 0.37% and Cohen with 0.09%.

The Weyerhaeuser Co. (WY)’s position was cut by 10.91%. The trade had an impact of -0.73% on the portfolio.

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The real estate investment trust has a market cap of $28.21 billion and an enterprise value of $33.8 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. While the return on equity of 7.67% is underperforming the sector, the return on assets of 3.76% is outperforming 53% of companies in the Global Lumber and Wood Production industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.13 is below the industry median of 0.37.

First Eagle Investment (Trades, Portfolio) is the largest shareholder of the company among the gurus with 5.02% of outstanding shares followed by Third Avenue Management (Trades, Portfolio) with 0.67%, T Rowe Price Equity Income Fund (Trades, Portfolio) with 0.51% and Manning & Napier Advisors Inc. with 0.49%.

Disclosure: I do not own any shares of any stocks mentioned in this article.

About the author:

Tiziano Frateschi
You can read about me on this blog: www.theextraincome.info

It gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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