Activist Warren Lichtenstein Is Nicely Asking SL Industries, Inc. (SLI) To Cave In To His Acquisition Demand

After a recent hike in its holding, Steel Partners now owns about 8.44 million shares of Handy & Harman Ltd (NASDAQ:HNH). This amounts to about 78.4% of the company’s outstanding common stock. Although up by more than 40% over the past year, Handy & Harman’s stock has tumbled by more than 26% year-to-date. Among the hedge funds that we track, the interest in the company has increased over the last quarter as seven firms had invested a total of $309.60 million in the company at the end of March, as compared to four funds with $462.25 million at the end of the previous quarter. Jim Simons’ Renaissance Technologies is one of them, holding 121,900 shares valued at $5.0 million.

As for SL Industries, Inc. (NYSEMKT:SLI), Steel Partners’ stake in the company consists of 994,840 shares valued at $42.53 million. The holding represents 25.23% of the company’s outstanding shares and 6.68% of the fund’s portfolio value. So far this year, the stock has appreciated by 6.41%. A total of seven firms had invested $65.15 million in the company at the end of the first quarter compared to five funds holding $59.33 million in stock at the end of the previous quarter. Of those, Mario Gabelli’s GAMCO Investors held 430,951 shares valued at $18.42 million.

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