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Mario Gabelli Reveales Latest Moves In Its Equity Portfolio

Mario Gabelli‘s fund GAMCO Investors and its affiliates, have revealed in several filings with the SEC, some of the latest moves related to the holdings in its equity portfolio. In one of the filings, GAMCO revealed adding Xyratex Ltd. (NASDAQ:XRTX) to its equity portfolio. The position held by GAMCO, Gabelli Funds and GSE amasses a total of over 1.54 million shares, equal to 5.59% of the company’s common stock.

Mario Gabelli

Earlier in December, Seagate Technology plc (NASDAQ:STX) entered into an agreement to acquire Xyratex for a total of $13.25 per share. Matthew Drapkin and Steven R. Becker‘s Becker Drapkin Management also initiated a stake in the company during the last quarter of 2013, holding 1.22 million shares.

In a couple of other filings, GAMCO revealed edging up its position in Materion Corp (NYSE:MTRN) to 1.18 million shares, from 1.17. The aggregate stake held by the affiliated funds amounts to 1.80 million shares, or 8.74% of the outstanding stock. Moreover, GAMCO disclosed entering into an agreement with Materion Corp (NYSE:MTRN), under the terms of which, the fund nominated Edward F. Crawford to be elected to the company’s board.

Mario Gabelli’s funds also raised their positions in Astec Industries, Inc. (NASDAQ:ASTE) and The Bon-Ton Stores, Inc. (NASDAQ:BONT). In Astec Industries, Inc. (NASDAQ:ASTE), the aggregate position contains 1.16 million shares, equal to  5.06%  of the company, while in The Bon-Ton Stores, Inc. (NASDAQ:BONT), the aggregate stake has been raised to 2.30 million shares, equal to 13.12%, from 2.08 million shares, or 11.88% reported previously.

Moreover, Mr. Gabelli seems to be bullish on Hi-Tech Pharmacal Co. (NASDAQ:HITK), raising his stake to a total of 942,200 shares, representing 6.77% of the stock, from  780,000 shares. GAMCO holds around 274,700 shares of the aggregate holding, versus 219,700 shares owned previously.

In a separate filing, GAMCO disclosed entering into an agreement with Griffin Land & Nurseries, Inc. (NASDAQ:GRIF), under the terms of which the fund has nominated Christopher P. Haley and Walter M. Schenker to be elected to the company’s board. Mr. Gabelli’s stake in the company amasses 1.73 million shares, equal to 33.63% of the outstanding shares. The fund has pursued Griffin Land & Nurseries, Inc. (NASDAQ:GRIF) into conducting a vote among shareholders regarding the change of the company’s status to REIT or MLP.

Mario Gabelli has also tweaked his positions in Watts Water Technologies Inc (NYSE:WTS) and GATX Corporation (NYSE:GMT). Mr. Gabelli’s funds hold a total of 2.50 million class A shares of Watts Water Technologies, GAMCO holding 684,200 shares, down from 1.90 held at the end of last year. In GATX Corporation, the aggregate stake contains 5.33 million shares, with GAMCO owning 1.85 million shares, versus 3.53 million shares previously. The aggregate positions in Watts Water Technologies Inc (NYSE:WTS) and GATX Corporation (NYSE:GMT) represent 8.69% and 11.58% of stock respectively.

At the same time, Mr. Gabelli sold out the position in Cadence Pharmaceuticals, Inc. (NASDAQ:CADX), upon the company’s acquisition by Mallinckrodt Plc in a $1.4 billion transaction. Previously, GAMCO and other affiliated funds held a total of 6.16 million shares of Cadence Pharmaceuticals, equal to 6.94% of the common stock.

Disclosure: none

Recommended Reading:

Cadence Pharmaceuticals, Inc. (CADX), Griffin Land & Nurseries, Inc. (GRIF) and Three Other Moves From Mario Gabelli and GAMCO Investors

Mario Gabelli and GAMCO Up Stake in Griffon Corporation (GFF)

Mario Gabelli is Bullish on Lawson Products Inc. (LAWS)

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