A.M. Castle shareholder critiques decisions

Nov 14, 2012 | 03:31 PM | Corinna Petry

Tags  A.M. Castle, Huber Capital Management, common stock, Joseph Huber, Scott Stephens, Platinum Equity, Ryerson, Tube Supply debt issue

CHICAGO — After holding a small amount of A.M. Castle & Co. shares passively for five years, Huber Capital Management LLC (HCM) and its principal have opted to take a more active role, also criticizing the company’s activities.

HCM and principal Joseph R. Huber now have sole voting power of 1.23 million shares of the Oak Brook, Ill.-based carbon steel and specialty metals distributor’s common stock, as well as sole dispositive power over slightly less than 1.9 million shares, revealing that it has increased its ownership to 8.2 percent from 3.2 percent at the end of June.....

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