In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Gencor Industries Inc. (NASDAQ:GENC) reported that GAMCO Investors has picked up 49,300 of common stock as of 2017-06-01.
The acquisition brings the aggregate amount owned by GAMCO Investors to a total of 49,300 representing less than 0.41% stake in the company.
For those not familiar with the company, Gencor Industries, Inc. is a manufacturer of heavy machinery used in the production of highway construction materials, synthetic fuels and environmental control equipment. The Company designs, manufactures and sells machinery and related equipment used primarily for the production of asphalt and highway construction materials. Its geographical segments are United States and Other. The Company’s principal products include asphalt plants, combustion systems and fluid heat transfer systems. It also manufactures related asphalt plant equipment, including hot mix storage silos, fabric filtration systems, cold feed bins and other plant components. The Company also manufactures soil remediation machinery, as well as combustion systems for rotary dryers, kilns, fume and liquid incinerators and fuel heaters. Its General Combustion subsidiary also manufactures the Hy-Way heat and Beverley lines of thermal fluid heat transfer systems and specialty storage tanks for an array of industry uses.
A glance at Gencor Industries Inc. (NASDAQ:GENC)’s key stats reveals a current market capitalization of 234.65 Million based on 12.13 Million shares outstanding and a price at last close of $16.00 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-08-17, Mellen picked up 10,000 at a purchase price of $10.75. This brings their total holding to 51,250 as of the date of the filing.
On the sell side, the most recent transaction saw Houtkin unload 10,000 shares at a sale price of $15.84. This brings their total holding to 1,519,551.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Gencor Industries Inc. (NASDAQ:GENC) as things move forward to see if its progress aligns with these transactions.
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