On January 29, William C. Martin, one of the largest shareholders of A. M. Castle & Co (NYSE:CAS), reported purchasing 54,733 shares of the company at an average price of $6.00 per share. Martin seems to be a big fan of A. M. Castle, in which he acquired a number of share in several transactions during last a couple of months. Currently, Martin owns about 3.84 million shares of A. M. Castle & Co (NYSE:CAS).
Among the largest shareholders of A. M. Castle is Foundation Asset Management, led by David Charney and Sky Wilber. The investor reported holding 1.49 million shares of the company as of the end of the third quarter of 2014. A. M. Castle & Co (NYSE:CAS) is also a favorite stock of Willem Mesdag’s Red Mountain Capital, which acquired 393,128 shares of the company during the third quarter of 2014. Another investor, MFP Investors, led by Michael Price, disclosed ownership of 642,500 shares of the company in its latest 13F filing.
Last month, A. M. Castle & Co (NYSE:CAS) announced that it obtained an extension on its $125.0 million revolving credit facility through December 2019. According to the company, the extension commitment comes from three of the existing lenders under the facility, and there were no other material changes to the terms of the facility. The revolving credit facility will support the company’s general working capital needs, which had $27.0 million of outstanding borrowings and $88.1 million of additional borrowing capacity available under the facility as of September 30, 2014.