After adding to his stake in Horsehead Holding Corp. (ZINC, Financial) five times between July 22 and Aug. 21, guru Mohnish Pabrai (Trades, Portfolio) reduced his stake by nearly 16% on Jan. 20.
Pabrai sold 1,012,517 shares of the Pittsburgh-based zinc producer for an average price of 45 cents per share. The transaction left Pabrai with a stake of 5,320,779 shares and dropped him from the position of leading shareholder among the gurus to second behind HOTCHKIS & WILEY.
HOTCHKIS & WILEY owns 5,545,698 shares of Horsehead, which is 9.57% of the company’s outstanding shares and 0.07% of HOTCHKIS & WILEY’s total assets. Pabrai’s stake is 9.18% of Horsehead’s outstanding shares and 0.64% of the guru’s total assets.
Horsehead has a forward P/E of 22.2, a P/B of 0.1 and a P/S of 0.1. GuruFocus gives Horsehead a Financial Strength rating of 7/10 and a Profitability and Growth rating of 4/10.
Horsehead sold for 38 cents per share Friday.
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