Gamco Investors Raises Stake in Ampco Pittsburg Corporation (AP) and Nominates Directors to the Board

Mario Gabelli’s Gamco Investors and their affiliates revealed holding in aggregate 1.80 million shares of Ampco Pittsburg Corporation (NYSE:AP), the stake representing 17.39% of the company’s common stock. In its latest 13F, Gamco disclosed holding around 1.11 million shares.

Mario Gabelli with cereal box

 

Out of the aggregate position, Gamco Investors holds around 1.10 million shares, while Gabelli Funds and Teton Advisors hold each 418,000 shares and 253,340. While the stake held by Gabelli Funds remained unchanged, in its latest 13F, Teton Advisors disclosed ownership of 245,300 shares of Ampco Pittsburg Corporation (NYSE:AP).

Ampco Pittsburg Corporation (NYSE:AP) operates in two segments: Forged and Cast Rolls, and Air and Liquid Processing. Recently, the company announced that in order to support the nominees recommended by GAMCO, the Corporation would expand its Board of Directors to eleven members from the existing nine members.

Last month, Ampco Pittsburg Corporation (NYSE:AP) paid a regular dividend of $0.18 per share to its shareholders.

Chuck Royce’s Royce & Associates is another major shareholder, which held around 1.03 million shares at the end of the third quarter of 2013.

According to the fund’s filing with the Securities and Exchange Commission, the value of Gamco’s equity portfolio has increased to $18.65 billion at the end of the year, from $17.02 billion in the third quarter.

Late last month, Gamco Investors, upped its position to 1.86 million shares from 1.67 million shares it held earlier in The Bon-Ton Stores, Inc (NASDAQ:BONT), a department store operator. Earlier, the fund reported initiating a position in Coleman Cable, Inc. (NASDAQ:CCIX). Currently, it holds 1.14 million shares of the company.

Gamco Investors fund had the largest investment in DIRECTV (NASDAQ:DTV). At the end of December 2013, it held 4.53 million shares of the company. The next big holding in its equity portfolio is American Express Company (NYSE:AXP), in which the fund reported 3.49 million shares. Another significant investment of the fund is in Viacom Inc. (NASDAQ: VIAB) with a reported holding of 3.46 million shares.

Disclosure:none

Recommended Reading:

Weiss Asset Management Top Picks Include HF2 Financial Management Inc (HTWO), Seabridge Gold, Inc. (USA) (SA) & More

Prescott Group Capital Top Picks: Air Transport Services Group Inc. (ATSG), Nature’s Sunshine Prod. (NATR) & More

Park West Asset Management Boosts Its Stake in Outerwall Inc (OUTR)

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!