Scott Black is the chairman, president and CIO at Delphi Management Inc., which is an employee-owned investment manager that only takes long positions in U.S. equities.Â
Delphi offers two products: an All-Capitalization portfolio and a Small/Mid-Capitalization portfolio with an emphasis on companies with market capitalizations below the high end of the Russell 2500 Value Index.
Black manages a portfolio composed of 101 stocks. Eleven of them were new buys during the third quarter, and 24 were additions to existing stakes. The following are the stocks that the investor repurchased in the third quarter with an impact of more than 0.1% on the portfolio.
Goldman Sachs Group Inc. (GS)
Black increased his stake in Goldman Sachs Group by 228.13%, with a weight of 1.37% on the portfolio. He bought shares of the company at the average price of $196.08 per share.
Goldman Sachs is a financial holding company with a market cap of $82.33 billion. Its shares were traded at around $193 with a P/E ratio of 12.68 and P/S ratio of 2.60. The dividend yield of Goldman Sachs stocks is 1.34%. The company had a 10-year earnings growth rate of 1.10%.
During the third quarter, the investors Ruane Cunniff (Trades, Portfolio) , HOTCHKIS & WILEY, Ken Heebner (Trades, Portfolio), Pioneer Investments (Trades, Portfolio) and John Buckingham (Trades, Portfolio) increased their stakes in Goldman Sachs by less than 1.50%, while Joel Greenblatt (Trades, Portfolio) increased his stake by 26.47% and David Dreman (Trades, Portfolio) increased his stake by 7%.
Goodyear Tire & Rubber Co. (GT)
Black increased his stake in Goodyear by 124.71% with a weight of 1.26% on his portfolio. He bought shares of the company at the average price of $30.02 per share.
Goodyear is engaged in manufacturing of tires. It develops, manufactures, markets and distributes tires for various applications and has a market cap of $9.09 billion. Its shares were traded at around $33.81 with a P/E ratio of 3.27 and P/S ratio of 0.55. The dividend yield of Goodyear Tire & Rubber stocks is 0.84%. The company had a 12-month earnings growth rate of 432.30%.
In this quarter Pioneer Investments (Trades, Portfolio) increased its stake in Goodyear by about 18%, Paul Tudor Jones (Trades, Portfolio) by 62.41% and David Dreman (Trades, Portfolio) by 12.66%.
Prudential Financial Inc. (PRU)
Black increased his stake in Prudential Financial by 14.91%, a 1.34% portfolio weight. He bought shares of the company at the average price of $83.09 per share.
Prudential Financial offers financial products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management and has a market cap of $39.24 billion. Its shares were traded at around $87 with a P/E ratio of 11.54 and P/S ratio of 0.69. The company's dividend yield is 3.20%, and earnings have grown 62.80% over the past year.
Joel Greenblatt (Trades, Portfolio) increased his stake in Prudential by 124%. Diamond Hill Capital (Trades, Portfolio), Sarah Ketterer (Trades, Portfolio), John Buckingham (Trades, Portfolio), Pioneer Investments (Trades, Portfolio), Ray Dalio (Trades, Portfolio), David Dreman (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio) and Ken Fisher (Trades, Portfolio) also increased their stakes in Prudential Financial Inc.
Verizon Communications Inc. (VZ)
Black increased his stake in Verizon Communications by 11.71%, a 1.47% portfolio weight. He bought shares of the company at the average price of $46.14 per share.
Verizon is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies. It has a market cap of $186.19 billion. Its shares were traded at around $45.76 with a P/E ratio of 18.25 and P/S ratio of 1.43. The dividend yield of Verizon stocks is 4.98%, but the company had a negative 12-month earnings decline of 47.80%.
In the third quarter, Ray Dalio (Trades, Portfolio) doubled his stake in the wireless carrier. Other investors like Brian Rogers (Trades, Portfolio), Joel Greenblatt (Trades, Portfolio), John Rogers (Trades, Portfolio), Robert Olstein (Trades, Portfolio), Louis Moore Bacon (Trades, Portfolio), Bernard Horn (Trades, Portfolio), Jeff Auxier (Trades, Portfolio), David Dreman (Trades, Portfolio) and Murray Stahl (Trades, Portfolio) also increased their stakes.
FedEx Corp. (FDX)
Black increased his stake in FedEx by 9.57%, a 1.42% portfolio weight. He bought shares of the company at the average price of $159.59 per share.
FedEx provides a broad portfolio of transportation, e-commerce and business services through companies competing, operating and managed, under the respected FedEx brand. These companies are included in four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. It has a market cap of $46.13 billion. Its shares were traded at around $163.35 with a P/E ratio of 43.71 and P/S ratio of 0.97. FedEx pays a dividend yield of 0.61%.
During the third quarter, FedEx stock saw a huge increase of 107.26% by Paul Tudor Jones (Trades, Portfolio). Investors like Mason Hawkins (Trades, Portfolio), Bill Nygren (Trades, Portfolio) and Ken Fisher (Trades, Portfolio) as well increased their stake in FDX stock.
Liberty Interactive Corp. (QVCA)
Black increased his stake in QVCA over 9.36%, a 1.33% portfolio weight. He bought shares of the company at the average price of $28.22 per share.
Liberty Interactive owns interests in subsidiaries and other companies engaged in the video and on-line commerce industries. It has a market cap of $16.88 billion. Its shares were traded at around $26.48 with a P/E ratio of 19.55 and P/S ratio of 1.64. The company had 12-month earnings decline of 58.80%.
During the quarter, Bill Nygren (Trades, Portfolio) increased his stake in Liberty Interactive by 9.18%, while Dodge & Cox added just 0.26%.
Ryland Group Inc. (RYL)
Black increased his stake in Ryland by 10.13%, a 1.24% portfolio weight. He bought shares of the company at the average price of $44.57 per share.
Ryland Group is a homebuilder and a mortgage-finance company. It has a market cap of $1.91 billion. Its shares were traded at around $40.83 with a P/E ratio of 12.30 and P/S ratio of 0.87. The dividend yield of Ryland stock is 0.29%. The company had a 12-month earnings growth rate of 4.20%.
Thor Industries Inc. (THO)
Black increased his stake in Thor Industries Inc. by 8.13%, a 1.45% portfolio weight. He bought shares of the company at the average price of $54.73 per share.
Thor Industries is engaged in manufacturing and selling recreational vehicles in the U.S. and Canada, as well as related parts and accessories. Its segments are towable recreational vehicles and motorized recreational vehicles. It has a market cap of $2.91 billion. Its shares were traded at around $56.24 with a P/E ratio of 14.82 and P/S ratio of 0.74. The dividend yield of Thor Industries is 2.16%. The company had a 12-month earnings growth rate of 15.90%.
