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Brandes Investment Cuts Cemex, Baidu, FedEx

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GuruFocus.com
·4 min read
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- By Tiziano Frateschi

Charles Brandes' Brandes Investment sold shares of the following stocks during the fourth quarter, which ended on Dec. 31.

Cemex

The firm reduced its position in Cemex SAB de CV (CX) by 18.3%. The trade had an impact of -1.40% on the portfolio.


The ready-mix concrete company has a market cap of $9.99 billion and an enterprise value of $22.15 billion.

Brandes Investment Cuts Cemex, Baidu, FedEx
Brandes Investment Cuts Cemex, Baidu, FedEx

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of -20.61% and return on assets of -6.18% are underperforming 93% of companies in the building materials industry. Its financial strength is rated 3 out of 10 with a cash-debt ratio of 0.26.

Other notable guru shareholders of the company are Dodge & Cox with 3.15% of outstanding shares, Howard Marks (Trades, Portfolio) with 1.58% and Jim Simons (Trades, Portfolio)' Renaissance Technologies with 1.58%.

Baidu

The Baidu Inc. (BIDU) holding was trimmed by 31.18%, impacting the portfolio by -0.72%.

The Chinese Internet search engine has a market cap of $104.67 billion and an enterprise value of $95.60 billion.

Brandes Investment Cuts Cemex, Baidu, FedEx
Brandes Investment Cuts Cemex, Baidu, FedEx

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 14.52% and return on assets of 7.88% are outperforming 69% of companies in the interactive media industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 1.88 is below the industry median of 4.71.

The largest guru shareholder of the company is PRIMECAP Management (Trades, Portfolio) with 2.79% of outstanding shares, followed by Simons' firm with 2.52% and Sarah Ketterer (Trades, Portfolio) with 1.19%.

FedEx

The firm reduced its FedEx Corp. (FDX) stake by 30.6%. The portfolio was impacted by -0.71%.

The express package provider has a market cap of $67.42 billion and an enterprise value of $97.53 billion.

Brandes Investment Cuts Cemex, Baidu, FedEx
Brandes Investment Cuts Cemex, Baidu, FedEx

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 12.72% and return on assets of 3.29% are outperforming 67% of companies in the transportation industry. Its financial strength is rated 4 out of 10 with a cash-debt ratio of 0.22.

The largest guru shareholders of the company are Mario Gabelli (Trades, Portfolio) with 4.20% of outstanding shares, Simons' firm with 0.68% and Paul Tudor Jones (Trades, Portfolio) with 0.04%.

NXP Semiconductors

The NXP Semiconductors NV (NXPI) position was closed, impacting the portfolio by -0.65%.

The company, which provides high-performance mixed-signal products, has a market cap of $54.55 billion and an enterprise value of $60.09 billion.

Brandes Investment Cuts Cemex, Baidu, FedEx
Brandes Investment Cuts Cemex, Baidu, FedEx

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 0.58% and return on assets of 0.26% are underperforming 66% of companies in the semiconductors industry. Its financial strength is rated 5 out of 10 with the cash-debt ratio of 0.3.

The largest guru shareholder of the company is Pioneer Investments (Trades, Portfolio) with 0.46% of outstanding shares, followed by Ken Fisher (Trades, Portfolio) with 0.38% and Steven Cohen (Trades, Portfolio) with 0.32%.

Halliburton

The firm curbed its position in Halliburton Co. (HAL) by 29.52%. The portfolio was impacted by -0.53%.

The oilfield-services company has a market cap of $17.36 billion and an enterprise value of $25.64 billion.

Brandes Investment Cuts Cemex, Baidu, FedEx
Brandes Investment Cuts Cemex, Baidu, FedEx

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -48.75% and return on assets of -13.19% are underperforming 78% of companies in the oil and gas industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.24 is below the industry median of 0.41.

The largest guru shareholder of the company is Richard Pzena (Trades, Portfolio) with 4.38% of outstanding shares, followed by Dodge & Cox with 3.30% and HOTCHKIS & WILEY with 1.40%.

Mohawk Industries

The Mohawk Industries Inc. (MHK) position was reduced by 27.57%, impacting the portfolio by -0.47%.

The company, which manufactures flooring products, has a market cap of $12.19 billion and an enterprise value of $13.96 billion.

Brandes Investment Cuts Cemex, Baidu, FedEx
Brandes Investment Cuts Cemex, Baidu, FedEx

GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 6.68% and return on assets of 3.96% are underperforming 51% of companies in the furnishings, fixtures and appliances industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.4 is below the industry median of 1.07.

The largest guru shareholders of the company include Pzena with 2.67% of outstanding shares, John Rogers (Trades, Portfolio) with 1.71% and Tom Gayner (Trades, Portfolio) with 0.31%.

Disclosure: I do not own any stocks mentioned.

Read more here:

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This article first appeared on GuruFocus.