Mohnish Pabrai, Dalal Street Up Their Stake in Horsehead Holding Corp (ZINC)

Mohnish Pabrai, the manager of Dalal Street, is still bullish on Horsehead Holding Corp. (NASDAQ:ZINC). In a recent Form 4 filing with the Securities and Exchange Commission, Dalal Street has revealed the acquisition of 30,166 shares in one transaction for a price of $13.98 apiece. Mohnish Pabrai has been buying this stock for some time now and his fund currently holds 6.4 million shares worth approximately $91.3 million. HORSEHEAD HOLDING CORP. (NASDAQ:ZINC) Chuck Royce of Royce & Associates is not that optimistic about this stock. During the third quarter of 2013, Royce & Associates has reduced its exposure to Horsehead Holding Corp. (NASDAQ:ZINC), decreasing its stake by 10%. At the end of September 2013, the fund reported ownership of a little over 4 million shares valued at $50.8 million. Paul Marshall and Ian Wace have opened a position in this stock during Q3. As a result, their fund, Marshall Wace LLP reported ownership of 51,374 shares worth approximately $640,000 at the end of the quarter. J. Alan Reid, Jr. is also keeping an eye on this stock, with his fund, Forward Management, holding 30,000 shares reportedly worth $374 thousand. Horsehead Holding Corp. (NASDAQ:ZINC) engage in the production and sale of zinc products mainly in the United States and Canada. Throughout 2013, the stock has been trending up and has advanced 37% to a current price of $14.26 per share. The company has a market cap of $720 million and does not pay a dividend. The stock has a beta of 2.07 and trades at a forward Price to Earnings (P/E) ratio of 18.96. In its latest quarterly report, Horsehead Holding posted revenues of $86 million, a 14% year-over-year increase and a loss per share of $0.08. For the current quarter, analysts expect the company to increase its revenues to $106 million, but the loss per share is expected to widen to $0.15. Disclosure: none Recommended reading: Coliseum Capital Buys Even More Accuride Corporation (ACW) Shares Activist Carl Icahn Gets Two Representatives on Hologic, Inc. (HOLX)’s Board Becker Drapkin Management Ups Position in EMCORE Corporation (EMKR) Even Higher
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