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Chuck Royce's Firm Trims UniFirst Position, Exits Teradyne

- By Tiziano Frateschi

Royce & Associates, the investment firm founded by renowned guru Chuck Royce (Trades, Portfolio), sold shares of the following stocks during the first quarter.


The UniFirst Corp. (UNF) position was reduced by 56.22%. The trade had an impact of -0.43% on the portfolio.

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The company, which supplies workplace uniforms and other products and services, has a market cap of $3.12 billion and an enterprise value of $2.79 billion.


GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 10.40% and return on assets of 8.39% are outperforming 54% of companies in the Apparel Manufacturing industry. Its financial strength is rated 9 out of 10.

Another notable guru shareholder of the company is Jim Simons (Trades, Portfolio)' Renaissance Technologies with 1.09% of outstanding shares, followed by Tweedy Browne (Trades, Portfolio) with 0.17% and Third Avenue Management (Trades, Portfolio) with 0.16%.

The firm exited its Teradyne Inc. (TER) stake, impacting the portfolio by -0.33%.

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The company, which manufactures automatic test systems, has a market cap of $8.31 billion and an enterprise value of $7.79 billion.


GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 28.53% and return on assets of 16.77% are underperforming 57% of companies in the Semiconductor Equipment and Materials industry. Its financial strength is rated 8 out of 10. The cash-debt ratio of 2.36 is above the industry median of 1.69.

The company's largest guru shareholder is PRIMECAP Management (Trades, Portfolio) with 1.17% of outstanding shares, followed by Simons' firm with 1.02%, NWQ Managers (Trades, Portfolio) with 0.55% and Ken Fisher (Trades, Portfolio) with 0.21%.


Royce's firm closed its Strategic Education Inc. (STRA) holding, impacting the portfolio by -0.29%.

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The company, which provides academic programs, has a market cap of $3.77 billion and an enterprise value of $3.38 billion.

GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of -1.45% and return on assets of -1.19% are outperforming 57% of companies in the Education and Training Services industry. Its financial strength is rated 9 out of 10.

The company's largest guru shareholder is Simons' firm with 4.50% of outstanding shares, followed by Jeff Ubben (Trades, Portfolio)'s ValueAct with 01.86% and Hotchkis & Wiley with 0.08%.

The Oaktree Capital Group LLC (OAK) holding was trimmed 75.18%, impacting the portfolio by -0.27%.

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The global alternative asset management company has a market cap of $7.67 billion and an enterprise value of $14.07 billion.


GuruFocus gives the company a profitability and growth rating of 5 out of 10. The return on equity of 16.52% and return on assets of 2.31% are outperforming 52% of companies in the Asset Management industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.67 is below the industry median of 480.


The company's largest guru shareholder is John Rogers (Trades, Portfolio) with 1.29% of outstanding shares, followed by Ron Baron (Trades, Portfolio) with 1.22% and Tom Gayner (Trades, Portfolio) with 0.68%.

The firm curbed its Cooper Tire & Rubber Co. (CTB) stake by 37.69%, impacting the portfolio by -0.25%.

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The tire manufacturer has a market cap of $1.46 billion and an enterprise value of $1.63 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 6.51% and return on assets of 2.84% are underperforming 72% of companies in the Rubber and Plastics industry. Its financial strength is rated 6 out of 10. The cash-debt ratio of 0.67 is above the industry median of 0.61.

The company's largest guru shareholder is Royce with 2.82% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.55%.

Royce's firm trimmed its Vishay Intertechnology Inc. (VSH) holding by 22%, impacting the portfolio by -0.23%.

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The company, which supplies discrete semiconductors and passive components, has a market cap of $2.58 billion and an enterprise value of $2.32 billion.


GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity of 22.09% and return on assets of 10.24% are underperforming 63% of companies in the Semiconductors industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 1.55 is below the industry median of 1.69.


The company's largest guru shareholder is Fisher with 3.68% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 1.74%.

Disclosure: I do not own any stocks mentioned.

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This article first appeared on GuruFocus.