Trian Partners and Raging Capital Management Reveal Their Latest Moves

Raging Capital Management was founded in 2006 by William C. Martin, who currently occupies the positions of Chief Investment Officer and Chairman. In addition to his involvement in the Princeton, New Jersey based investment firm, Mr. Martin co-founded numerous financial information companies, such as Ragingbull.com and InsiderScore.com.

Raging Capital Management boasts an equity portfolio valued at around $893 million, with more than 63% of its holdings stemming from the information technology and energy sectors. Equities from the industrial goods industry – where A. M. Castle & Co (NYSE:CAS) operates – accounted for 10% of the firm’s holdings as of its last 13F filing. Furthermore, the acquisition of 3.7 million shares has turned Raging Capital Management into one of the company’s largest institutional investors. A. M. Castle & Co is involved in the distribution of specialty metals and plastics and has a market cap of $154 million.

In addition to Mr. Martin’s investment firm, a number of financial institutions hold a position in A. M. Castle & Co (NYSE:CAS). Chuck Royce’s Royce & Associates for example owns around 1.7 million shares, after increasing its stake in the company by 19% during the third quarter. Joe Huber’s Huber Capital Management also remains involved in A.M. Castle & Co, with holding stock amounting to 1.5 million shares. The company’s stock is currently trading at a discount, after share prices dropped around 50% over the past year. Hence, it seems Raging Capital Management chose an appropriate time to increase its stake in the undervalued company.

Disclosure: Pablo Erbar holds no position in any stocks or funds mentioned.