The New Bill Ackman’s Pershing Square Capital Management Holding in Platform Specialty Products Corp
Pershing Square Capital Management filed with the SEC SC 13D/A form for Platform Specialty Products Corp. The form can be accessed here: 000119312516766089. As reported in Bill Ackman’s Pershing Square Capital Management’s form, the filler as of late owns 14.5% or 40,451,506 shares of the Materials–company.
Platform Specialty Products Corp stake is a new one for the for the hedge fund and it was filed because of activity on November10, 2016. We feel this shows Bill Ackman’s Pershing Square Capital Management’s positive view for the stock. For a hedge fund managing $15.21 billion in assets and having 54+ active experts, we at Financialmagazine have no doubt the buy is a bullish signal.
The hedge fund is active investor in the Materials sector. In the manager’s last 13-F, we saw 9% of Bill Ackman’s Pershing Square Capital Management’s US equities portfolio is in this sector.
Platform Specialty Products Corp Institutional Sentiment
Latest Security and Exchange filings show 172 investors own Platform Specialty Products Corp. The institutional ownership in Q3 2015 is high, at 68.23% of the outstanding shares. This is increased by 9352355 the total institutional shares. 190010979 were the shares owned by these institutional investors. In total 27 funds opened new Platform Specialty Products Corp stakes, 95 increased stakes. There were 46 that closed positions and 39 reduced them.
4 managers had the stock in their top Ten. Notable investors are: Bares Capital Management Inc., Pershing Square Capital Management L.P., Corvex Management Lp, Crescent Park Management L.P…
Bill Ackman Pershing Square Capital Management Lp is an institutional investor bullish on Platform Specialty Products Corp, owning 42737394 shares as of Q3 2015 for 3.88% of its portfolio. Levasseur Capital Partners Llc owns 404748 shares or 5.26% of its portfolio. NY Kings Point Capital Management have 0.24% of their stock portfolio for 70733 shares. Further, T2 Partners Management Lp reported stake worth 9.23% of its US stock portfolio. The X1 Ancora Advisors Llc owns 137730 shares. Platform Specialty Products Corp is 0.22% of the manager’s US portfolio.
SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.
Bill Ackman’s Pershing Square Capital Management website.
Insitutional Activity: The institutional sentiment increased to 1.29 in 2016 Q2. Its up 0.25, from 1.04 in 2016Q1. The ratio increased, as 31 funds sold all Platform Specialty Products Corp shares owned while 31 reduced positions. 23 funds bought stakes while 57 increased positions. They now own 187.56 million shares or 2.18% less from 191.75 million shares in 2016Q1.
State Street accumulated 1.52M shares or 0% of the stock. Morgan Stanley has 2.15 million shares for 0.01% of their US portfolio. Pershing Square Mngmt L P holds 42.74 million shares or 5.05% of its portfolio. Canada Pension Plan Inv Board reported 51,410 shares or 0% of all its holdings. Wellington Gp Llp has invested 0.06% of its portfolio in Platform Specialty Products Corp (NYSE:PAH). Gabelli Funds Ltd Liability has 0% invested in the company for 50,000 shares. New York State Common Retirement Fund reported 384,400 shares or 0% of all its holdings. Horizon Kinetics Ltd reported 3.71M shares or 0.83% of all its holdings. Barclays Public Ltd Company owns 1,525 shares or 0% of their US portfolio. Bares Inc has 12.79M shares for 8.08% of their US portfolio. Palisade Ltd Nj owns 79,450 shares or 0.03% of their US portfolio. Swiss State Bank accumulated 247,189 shares or 0% of the stock. Franklin Resources, a California-based fund reported 357,356 shares. Winfield Associates Inc reported 70 shares or 0% of all its holdings. Gamco Investors Et Al accumulated 20,000 shares or 0% of the stock.
Insider Transactions: Since September 16, 2016, the stock had 2 insider buys, and 0 selling transactions for $8.70 million net activity. Shares for $8.66M were bought by FRANKLIN MARTIN E on Friday, September 16. Casanello Diego Lopez also bought $33,020 worth of Platform Specialty Products Corp (NYSE:PAH) shares.
About 6.36M shares traded hands or 80.68% up from the average. Platform Specialty Products Corp (NYSE:PAH) has risen 2.00% since April 8, 2016 and is uptrending. It has underperformed by 3.65% the S&P500.
Platform Specialty Products Corp (NYSE:PAH) Ratings Coverage
Out of 7 analysts covering Platform Specialty Products Corporation (NYSE:PAH), 5 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 71% are positive. $27 is the highest target while $10 is the lowest. The $13 average target is 46.89% above today’s ($8.85) stock price. Platform Specialty Products Corporation has been the topic of 17 analyst reports since August 17, 2015 according to StockzIntelligence Inc. Nomura upgraded Platform Specialty Products Corp (NYSE:PAH) on Monday, November 7 to “Buy” rating. UBS maintained the shares of PAH in a report on Thursday, September 29 with “Buy” rating. The firm has “Neutral” rating given on Monday, May 2 by Credit Suisse. On Monday, August 22 the stock rating was initiated by TH Capital with “Buy”. The firm has “Buy” rating by Bank of America given on Wednesday, March 9. The stock has “Equal Weight” rating given by Barclays Capital on Wednesday, October 5. The firm earned “Neutral” rating on Tuesday, September 13 by Nomura. Credit Suisse reinitiated Platform Specialty Products Corp (NYSE:PAH) on Thursday, December 3 with “Neutral” rating. The firm has “Equal-Weight” rating by Barclays Capital given on Tuesday, August 16. Roth Capital initiated Platform Specialty Products Corp (NYSE:PAH) on Monday, August 22 with “Buy” rating.
More news for Platform Specialty Products Corp (NYSE:PAH) were recently published by: Businesswire.com, which released: “MacDermid Performance Solutions Completes Major Expansion of Japan Facility” on November 04, 2016. Globenewswire.com‘s article titled: “Platform Specialty Products Corporation Completes Repricing and Extension of …” and published on October 17, 2016 is yet another important article.
According to Zacks Investment Research, “Platform Specialty Products Corporation is a producer of high technology specialty chemical products as well as technical services. The company serves electronics, metal and plastic plating, graphic arts, and offshore oil production and drilling industries. Platform Specialty Products Corporation is headquartered in Miami, United States.”
PAH Company Profile
Platform Specialty Products Corporation (Platform), incorporated on January 22, 2014, is a producer of specialty chemical products and well-known provider of technical services. The Firm operates in two divisions: Performance Solutions and Agricultural Solutions.
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