Activist Investor GAMCO Trims Position in Schmitt Industries (SMIT)

Investing

Published: November 15, 2022 3:21 am

Last Updated: November 15, 2022 1:21 pm

Fintel reports that Gamco Investors, Inc. Et Al has filed a 13D/A form with the SEC disclosing ownership of 586,000 shares of Schmitt Industries, Inc. (SMIT). This represents 15.13% of the company.

In their previous filing dated August 27, 2020 they reported 610,000 shares and 16.15% of the company, a decrease in shares of 3.93% and a decrease in total ownership of 1.02% (calculated as current – previous percent ownership).

Schmitt Industries, Inc., founded in 1987, designs, manufactures and sells high precision test and measurement products, solutions and services through its Acuity® and Xact® product lines. Acuity provides laser and white light sensor distance measurement and dimensional sizing products, and our Xact line provides ultrasonic-based remote tank monitoring products and related monitoring revenues for markets in the Internet of Things environment.

What are other large shareholders doing?

Teton Advisors, Inc. holds 593,000 shares representing 15.31% ownership of the company. No change in the last quarter.

Bridgeway Capital Management Inc holds 61,502 shares representing 1.59% ownership of the company. No change in the last quarter.

Morgan Stanley holds 50,920 shares representing 1.32% ownership of the company. No change in the last quarter.

Advisor Group Holdings, Inc. holds 31,200 shares representing 0.81% ownership of the company. In it’s prior filing, the firm reported owning 27,300 shares, representing an increase of 12.50%. The firm decreased its portfolio allocation in SMIT by 35.55% over the last quarter.

Susquehanna International Group, Llp holds 21,657 shares representing 0.56% ownership of the company. In it’s prior filing, the firm reported owning 0 shares, representing an increase of 100.00%.

What is the overall institutional sentiment?

There are 15 funds or institutions reporting positions in Schmitt Industries, Inc.. This is an increase of 1 owner(s) or 7.14%.

Average portfolio weight of all funds dedicated to Schmitt Industries, Inc. is 0.0626%, a decrease of 22.5589%. Total shares owned by institutions increased in the last three months by 1.48% to 1,412,784 shares.

This article originally appeared on Fintel

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