William Martin’s Raging Capital Goes Activist On The Standard Register Co (SR)

Raging Capital Management, led by William C. Martin, revealed in a filing that it has edged up its position in Standard Register Co (NYSE:SR), to 681,986 from some 680,700 shares held at the end of September 2013. The stake currently amasses around 8.3% of the company’s stock and the fund now holds an activist position in the company.

In a letter to Joseph P. Morgan, Jr., President & Chief Executive Officer of Standard Register Co (NYSE:SR) Raging Capital Management, placed his request to elect a well-qualified director, identified by Raging Capital. A meeting is likely to be scheduled with Mr. Morgan to discuss the foregoing. Raging Capital also discussed with Mr. Morgan over phone on matters related to business, operations and Board composition.

Edward A. Mule‘s Silver Point Capital held warrants of Standard Register Co (NYSE:SR) entitling it to purchase a total of 2.2 million shares, which were received when it acquired all outstanding membership interests of  WorkflowOne LLC. Silver Point Capital, later exercised these warrants to purchase a total of 2.2 million shares.

A couple of months ago Edward A. Mule’s Silver Point Capital, raised its stake in Standard Register Co (NYSE:SR) by buying 5,355 shares at $8.50 per share. The shares were purchased as a grant to Anthony DiNello, an employee of Silver Point, who serves as  director at Standard Register.

A couple of months ago, Robert Peiser, director at Standard Register Co (NYSE:SR), bought in small quantities and accumulated 10,355 shares of the company.

Of the hedge funds we track, Raging Capital Management is the largest share holder of Standard Register Co (NYSE:SR), followed by Phil Frohlich’s Prescott Group Capital Management, which raised its stake by 216% in the third quarter of 2013 and now amasses 88,500 shares.

Raging Capital, initiated a stake in Facebook Inc (NASDAQ:FB) in the third quarter of 2013, and has 800,000 shares, worth $40.18 million in its equity portfolio. This represents 6.92% of the fund’s equity portfolio and it is the second largest position in the fund’s portfolio. On the third spot is Vitesse Semiconductor (NASDAQ:VTSS), of which Raging Capital has 10.39 million shares, with a reported value of $31.59 million. Followed by Vitesse is EQT Corporation (NYSE:EQT) in the fourth spot, representing 5.06% of its equity portfolio, worth $29.40 million.

Disclosure: none

Recommended Reading:

These Hedge Funds Profited Handsomely As Blackstone Surged 5%

Amici Capital Initiates A Huge Position in YRC Worldwide, Inc.(NASDAQ:YRCW)

Jeffrey Gates Boosts His Stake in International Game Technology (IGT)