In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Handy & Harman Ltd. (NASDAQ:HNH) reported that Steel Partners has picked up 8,560,592 of common stock as of 2017-06-27.
The acquisition brings the aggregate amount owned by Steel Partners to a total of 8,560,592 representing a 70.0% stake in the company.
For those not familiar with the company, Handy & Harman Ltd. is a holding company. The Company, through its subsidiaries, is a diversified manufacturer of engineered industrial products. The Company’s segments include Joining Materials, Tubing, Building Materials, Performance Materials, Electrical Products, and Kasco Blades and Route Repair Services (Kasco). Joining Materials fabricates precious metals and their alloys into brazing alloys. Tubing manufactures a range of steel tubing products. Building Materials manufactures and supplies products to the commercial construction and building industries. Performance Materials manufactures sheet and mechanically formed glass manufactures sheet and mechanically formed glass, quartz, carbon and aramid materials. Electrical Products segment designs, manufactures and markets power electronics and power protection, among others. Kasco provides meat-room blade products, repair services and resale products for the meat and deli departments of supermarkets and restaurants, among others.
A glance at Handy & Harman Ltd. (NASDAQ:HNH) key stats reveals a current market capitalization of $386.20 Million based on $12.22 Million shares outstanding and a price at last close of $31.55 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2015-12-29, Frankfurt picked up 2,500 at a purchase price of $20.63. This brings their total holding to 20,221 as of the date of the filing.
On the sell side, the most recent transaction saw Howard unload 6,148 shares at a sale price of $22.23. This brings their total holding to 191,305.
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 Handy & Harman Ltd. (NASDAQ:HNH) as things move forward to see if its progress aligns with these transactions.
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