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Aerojet Rocketdyne Holdings Inc. (AJRD): Billionaire Mario Gabelli’s GAMCO Investors Trims Exposure

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According to a recent 13D filing with the US SEC, billionaire Mario Gabelli‘s GAMCO Investors and its affiliates own in aggregate 8.82 million shares of Aerojet Rocketdyne Holdings Inc. (NYSE:AJRD), which account for 12.61% of the company’s outstanding stock. Out of the aggregate amount, GAMCO alone holds 4.74 million shares representing 6.82% of the outstanding stock, which shows a slight decrease in GAMCO’s sole ownership stake, as the fund reported holding almost 4.78 million common shares in its latest 13F Filing (for the reporting period ended June 30).

Aerojet Rocketdyne Holdings, formerly GenCorp, is a company that produces aerospace and defense systems and products, running in two sectors: Real Estate, and Aerospace and Defense. Recently, the company helped the launch of two Geosynchronous Space Situational Awareness Program (GSSAP) satellites into orbit with a mission to detect and follow space objects – all being a part of Air Force Space Command-6 (AFSPC-6) mission. Over the past 12 months, Aerojet Rocketdyne Holdings’ stock decreased by 9.25%. In its latest financial report for the second quarter of fiscal 2016, the company disclosed net sales of $408.4, which compares to net sales of $457.8 million for the corresponding quarter in the previous year.

 

MarioGabelli_GAMCOInvestors

At the end of June, there were 16 investors from our database bullish on Aerojet Rocketdyne Holdings (NYSE:AJRD), compared to 19 smart money managers long the stock in the previous quarter. Among those investors long the company at the end of the second quarter, were Michael Blitzer’s Kingstown Capital Management, which held a position valued at close to $64 million, Jim Simons’ Renaissance Technologies with a $24.5 million position, Chuck Royce’s Royce & Associates, Jacob Gottlieb’s Visium Asset Management, Bart Baum’s Ionic Capital Management, and Ken Griffin’s Citadel Investment Group.

Some of the investors who lost interest in Aerojet Rocketdyne Holdings (NYSE:AJRD) and decided to drop its positions include Robert Vollero And Gentry T. Beach’s Vollero Beach Capital Partners, which said goodbye to a position estimated at the end of March at $686,000, and Alec Litowitz And Ross Laser’s Magnetar Capital, which sold off its position worth around $381,000.

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You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Gabelli Funds 2,830,598 2,830,598 2,830,598 4.05%
GAMCO Asset Management Inc. I.D. No. 13-40445 4,407,389 4,755,538 4,755,538 6.80%
Teton Advisors, Inc. I.D. No. 13-4008049 1,218,900 1,218,900 1,218,900 1.74%
GGCP, Inc. I.D. No. 13-3056041 14,000 14,000 14,000 0.02%
GAMCO Investors, Inc. I.D. No. 13-400786 0.00%
Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) 0.00%
Mario J. Gabelli 0.00%

Mario Gabelli
Mario Gabelli
GAMCO Investors

Page 1 of 16 – SEC Filing

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934 (Amendment No. 52)
Aerojet Rocketdyne Holdings, Inc.
(previously filed under GenCorp Inc.)
(Name of Issuer)
Common Stock, $0.10 Par Value Per Share
(Title of Class of Securities)
___________________007800105___________________
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________August 9, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box  .

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