Aep Industries Inc (AEPI): KSA Capital Management Decreases Stake

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Daniel Khoshaba‘s KSA Capital Management recently filed an amended Form 13D with the US SEC, in which reported lowering its stake in Aep Industries Inc (NASDAQ:AEPI) to 650,643 shares, which account for 12.7% of the company’s outstanding stock. The stake was decreased from 780,643 shares, KSA Capital Management previously held, which represented 15.3% of the float, according to a previous 13D filing.

AEP Industries is a company that produces plastic packaging products for agricultural, food and beverage, and industrial markets. Back in August, it was declared that the company has entered into a definitive merger agreement with Berry Plastics Group, Inc, upon which Berry Plastics will purchase AEP Industries for aggregate consideration of $765 million; AEP Industries shareholders will choose to obtain either 2.5011 shares of Berry’s common stock per AEP share, or $110 in cash. Over the past 12 months, the company’s stock has gained 87.59%. In its latest financial report for the third quarter of fiscal 2016, the company disclosed earnings per share of $1.22 and revenue of $283.69 million, compared to earnings per share of $1.28 and revenue of $301.98 million for the same quarter in fiscal 2015.

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At the end of the June quarter, 12 investors from Insider Monkey’s database reported long positions in Aep Industries Inc (NASDAQ:AEPI), up by four from the earlier quarter. Some of the bullish investors included Jim Simons’ Renaissance Technologies, with a position valued at $29 million, Jean-Marie Eveillard’s First Eagle Investment Management, which held a position worth around $22.63 million, Peter Algert and Kevin Coldiron’s Algert Coldiron Investors, and Gavin Saitowitz and Cisco J. Del Valle’s Springbok Capital.

Among investors who initiated new positions in the company during the quarter were Neil Chriss’ Hutchin Hill Capital, which acquired a position valued at $346,000, Joshua Packwood and Schuster Tanger’s Radix Partners, which had $338,000 invested in the company, and Mario Gabelli’s GAMCO Investors.

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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
KSA Capital Management 0 650,643 0 650,643 650,643 12.7%
Daniel Khoshaba 0 650,643 0 650,643 650,643 12.7%

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Page 1 of 8 – SEC Filing

(Amendment No. 9)
AEP Industries Inc.
(Name of Issuer)
Common Stock, $0.01 par value per share
(Title of Class of Securities)
(CUSIP Number)
Daniel Khoshaba, Managing Member
KSA Capital Management, LLC
67 East Park Place, 8th Floor, Suite 800
Morristown, NJ 07960
Tel: +1 (973) 829-3800
(Name, Address and Telephone Number of Person Authorized to Receive
Notices and Communications)
September 23, 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 ss.240.13d-1(e), 240.13d‑1(f) or 240.13d-1(g), check the following box [_].

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