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Tiziano Frateschi
Tiziano Frateschi
Articles (2082)  | Author's Website |

FPA Crescent Fund Sells Mohawk Industries, JD.Com

Fund's largest sales of 2nd quarter

FPA Crescent Fund’s portfolio manager Steven Romick (Trades, Portfolio) sold shares of the following stocks during the second quarter.

The fund sold short its SPDR S&P Regional Banking (ARCA:KRE) stake. The trade had an impact of -0.9% on the portfolio.

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The Mohawk Industries Inc. (MHK) stake was trimmed by 45.51%. The trade had an impact of -0.75% on the portfolio.

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The manufacturer of carpets, rugs and other flooring products, has a market cap of $10.83 billion and an enterprise value of $14 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 10.39% and return on assets of 5.94% are outperforming 51% of companies in the Manufacturing - Apparel & Furniture industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.78.

The largest guru shareholder of the company is First Pacific Advisors (Trades, Portfolio) with 2.27% of outstanding shares, followed by Ruane Cunniff (Trades, Portfolio) with 1.97% and Richard Pzena (Trades, Portfolio) with 1.88%.

The fund reduced its United Technologies Corp. (UTX) position by 11.76%. The portfolio was impacted by -0.44%.

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The company, which sells aerospace components, has a market cap of $115 billion and an enterprise value of $156 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 15.44% and return on assets of 4.53% are underperforming 74% of companies in the Aerospace and Defense industry. Its financial strength is rated 5.2 out of 10. The cash-debt ratio of 0.14 is below the industry median of 0.48.

The company's largest guru shareholder is Dodge & Cox with 1.78% of outstanding shares, followed by the Barrow, Hanley, Mewhinney & Strauss with 1.20% and Chris Davis (Trades, Portfolio) with 0.96%.

The guru curbed its Meggitt PLC (LSE:MGGT) holding by 17.87%, impacting the portfolio by -0.41%.

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The guru cut its JD.Com Inc. (JD) holding by 14.42%, impacting the portfolio by -0.30%.

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The Chinese e-commerce company has a market cap of $52.03 billion and an enterprise value of $48.22 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 5.36% and return on assets of 1.56% are underperforming 71% of companies in the Retail - Apparel and Specialty industry. Its financial strength is rated 6.3 out of 10. The cash-debt ratio of 3.31 is below the industry median of 0.65.

Chase Coleman (Trades, Portfolio)’s Tiger Global Management is the largest guru shareholder of the company with 4% of outstanding shares, followed by Dodge & Cox with 2.37%, Ken Fisher (Trades, Portfolio) with 0.85% and Andreas Halvorsen (Trades, Portfolio)’s Viking Global Investors with 0.80%.

The Charter Communications Inc. (CHTR) position was reduced by 9.6%. The portfolio was impacted by -0.29%.

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The cable company, has a market cap of $92.63 billion and an enterprise value of $173 billion.

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 3.55% and return on assets of 0.9% are underperforming 83% of companies in the Communication Services industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.02 is below the industry median of 0.34.

The company's largest guru shareholder is Dodge & Cox with 5.32% of outstanding shares, followed by Warren Buffett (Trades, Portfolio)’s Berkshire Hathaway with 2.56% and Bill Nygren (Trades, Portfolio)’s Oakmark Fund with 0.54%.

The investor trimmed 9.6% off its Comcast Corp. (CMCSA) stake. The trade had an impact of -0.29% on the portfolio.

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The cable operator has a market cap of $202.97 billion and an enterprise value of $309 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 16.98% and return on assets of 5.58% are outperforming 56% of companies in the Communication Services industry. Its financial strength is rated 4.7 out of 10. The cash-debt ratio of 0.03 is below the industry median of 0.34.

Dodge & Cox is the largest guru shareholder of the company with 1.88% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.54% and First Eagle Investment (Trades, Portfolio) with 0.51%.

The Aon PLC (AON) stake was reduced by 12.42%, impacting the portfolio by -0.28%.

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The provider of insurance and reinsurance solutions has a market cap of $47 billion and an enterprise value of $53 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 26.03% and return on assets of 4.40% are outperforming 61% of companies in the Brokers and Exchanges industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.11 is below the industry median of 2.44.

The company's largest guru shareholder is First Pacific Advisors (Trades, Portfolio) with 0.77% of outstanding shares, followed by Steven Romick (Trades, Portfolio) with 0.52%, Halvorsen’s firm with 0.27% and Jim Simons' (Trades, Portfolio) Renaissance Technologies with 0.17%.

Disclosure: I do not own any stocks mentioned.

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About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


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