These disclosures are from 13Ds filed with the Securities and Exchange Commission. 13Ds are filed within 10 days of an entity’s attaining more than 5% in any class of a company’s securities. Subsequent changes in holdings or intentions must be reported in amended filings. This material is from July 18 through July 24, 2024. Source: VerityData
Albion River Management increased its stake in the specialty engineering and manufacturing firm to 1,349,533 shares. Albion did so through the purchase of 5,386 Ducommun shares from July 1 through July 5 at prices ranging from $56.81 to $57 each.
Albion became an active investor by filing a 13D form on April 1, transitioning from being a passive investor, and has since bought 22,931 Ducommun shares from April 19 through April 22 at prices ranging from $51.99 to $52.36 each.
Albion managing partner Darren Farber issued a letter to Ducommun’s board on April 1, expressing his firm’s intent to acquire all outstanding shares in cash for $60 each. Ducommun rejected the proposal, and Farber issued a second letter to the board on July 15, increasing the offer to $65 apiece. On July 25, Ducommun rejected the revised offer, as well.
Following the purchases, Albion now owns 9.2% of Ducommun’s outstanding stock. Shares of Ducommun have gained roughly 21.3% in 2024.
Advertisement – Scroll to Continue
Decreases in Holdings
Restaurant Brands International
Pershing Square Capital lowered its stake in the parent of Burger King and Popeye’s to 27,085,095 shares. Pershing Square did so through the sale of 75,088 Restaurant Brands International shares on June 26 at an average price of $69.14 apiece.
Following the sale, Pershing Square continues to own 8.5% of Restaurant Brands’ outstanding stock. Shares have lost about 5.8% this year.
Smiths Group reduced its stake in the infusion-therapy company to 470,000 shares. Smiths Group did so through the sale of 1.2 million ICU Medical shares on July 16 for $126.55 each.
Advertisement – Scroll to Continue
Following the latest sale, Smiths Group continues to own 1.9% of ICU Medical’s outstanding stock, placing it below the 5% threshold that requires it to report further sales of the stock. Shares have gained about 21.6% year to date.
South Dakota Investment Council lowered its stake in the provider of vertical flight solutions to 4,019,380 shares. South Dakota Investment did so through the sale of 195,691 Bristow Group shares from May 20 through July 18 at prices ranging from $36.03 to $38.16 each.
Following the latest sales, South Dakota Investment continues to own 14.2% of Bristow Group’s outstanding stock. Shares have gained roughly 29.7% during the year.
OrbiMed Advisors decreased its stake in the clinical-stage biopharmaceutical company to 7,562,971 shares. OrbiMed did so through the sale of 56,164
shares over July 15 and 16 at an average price of $10 each through 10b5-1 planned transactions.
Following the sales, OrbiMed continues to own 11.7% of Terns Pharma’s outstanding stock. Shares have gained about 38.9% during the year.
Advertisement – Scroll to Continue
Email: editors@barrons.com
