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Chemtura Corp (CHMT), The Pep Boys – Manny, Moe & Jack (PBY): GAMCO Investors is Bullish on These Stocks

In a new filings with the U.S. Securities and Exchange Commission, GAMCO Investors, managed by Mario Gabelli, disclosed upping its stakes in Chemtura Corp (NYSE:CHMT) and The Pep Boys – Manny, Moe & Jack (NYSE:PBY).

GAMCO reported holding 4.54 million Chemtura Corp (NYSE:CHMT) shares, which represent an increase from 4.33 million shares the fund held previously. The stake amasses 5.01% of common stock outstanding. GAMCO, together with Gabelli Funds, Teton Advisors, Mario Gabelli and others, owns an aggregate 7.77 million shares of the company, equal to 8.58% of the common stock.

Mario Gabelli

Chemtura Corp (NYSE:CHMT) is a global manufacturer and marketer of specialty chemicals, with a market cap of around $2.3 billion. In July, GAMCO reported raising its stake in Chemtura Corp (NYSE:CHMT) from 6.32 million to 7.27 million shares.

Last month, Chemtura Corp (NYSE:CHMT) announced that Anne Noonan resigned from the company as senior vice president, industrial engineered products, to pursue another opportunity.

Aside from GAMCO, Water Street Capital, led by Gilchrist Berg, holds 4.63 million shares of Chemtura Corp (NYSE:CHMT), and David Einhorn’s Greenlight Capital owns 2.92 million shares of the company.

GAMCO boosted its position in The Pep Boys – Manny, Moe & Jack (NYSE:PBY) to 6.16 million shares from 5.58 million shares reported previously. The stake is equivalent to 11.56% of common stock outstanding. In aggregate, GAMCO and its affiliates hold 8.68 million shares, representing 16.28% of the class.

The Pep Boys – Manny, Moe & Jack (NYSE:PBY) is an automotive aftermarket service and retail chain, and has a market cap of $554.9 million. For the second quarter of fiscal 2014, the company reported a net loss of $0.3 million, compared to net earnings of $5.4 million for the same quarter of 2013.

Glenhill Advisors, run by Glenn J. Krevlin, disclosed ownership of 4.34 million shares of The Pep Boys – Manny, Moe & Jack (NYSE:PBY). Another investor, Two Sigma Advisors, managed by John Overdeck and David Siegel, revealed holding 62,959 shares of the company.

Recently, GAMCO reported increasing its stakes in Tredegar Corporation (NYSE:TG) and Medical Action Industries (NASDAQ:MDCI). Earlier this month, the fund disclosed in a new filling that it closed its position in Hillshire Brands Co (NYSE:HSH), which now merged with Tyson Foods, Inc. (NYSE: TSN).

Disclosure: none

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