As Wabtec (WAB) Stock Value Rose, Shareholder Luminus Management Has Increased Its Stake; Raging Capital Management Lowered Its Steel Partners Hldgs LP (SPLP) Stake by $1.28 Million; Stock Declined

June 19, 2018 - By Hazel Jackson

Steel Partners Holdings L.P. (NYSE:SPLP) Logo

Jonathan Barrett increased its stake in Wabtec Corp (WAB) by 15.29% based on its latest 2018Q1 regulatory filing with the SEC. Luminus Management Llc bought 199,783 shares as the company’s stock rose 16.10% while stock markets declined. The hedge fund run by Jonathan Barrett held 1.51M shares of the railroads company at the end of 2018Q1, valued at $122.62 million, up from 1.31 million at the end of the previous reported quarter. Luminus Management Llc who had been investing in Wabtec Corp for a number of months, seems to be bullish on the $9.88 billion market cap company. The stock increased 0.13% or $0.13 during the last trading session, reaching $102.6. About 522,440 shares traded. Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has risen 18.00% since June 19, 2017 and is uptrending. It has outperformed by 5.43% the S&P500. Some Historical WAB News: 07/05/2018 – WABTEC PLANS TO AFFIRM 2018 FINL GUIDANCE & LONG-TERM FINL TARG; 20/05/2018 – CNBC Wires: EXCLUSIVE-GE nears deal to merge transportation unit with Wabtec; 21/05/2018 – GE merges transportation unit with Wabtec in $11.1 bln deal; 20/05/2018 – EXCLUSIVE-GENERAL ELECTRIC CO GE.N NEARS DEAL TO MERGE TRANSPORTATION UNIT WITH WABTEC CORP WAB.N; 26/03/2018 – Wabtec Closes Above 200-Day Moving Average: Technicals; 20/04/2018 – General Electric reportedly discussing sale of rail unit to Wabtec; 21/05/2018 – Wabtec Chairman Albert Neupaver Has Been Re-Appointed Executive Chairman; 21/05/2018 – Moody’s: We Expect the Much Larger GE Transportation Merger Will Be a More Challenging Undertaking For Wabtec Than Faiveley; 20/04/2018 – General Electric is in discussions to sell its rail business to Wabtec, according to multiple reports Friday; 20/04/2018 – GE exploring merging transport business with Wabtec

William C. Martin decreased its stake in Steel Partners Hldgs LP (SPLP) by 6.45% based on its latest 2018Q1 regulatory filing with the SEC. Raging Capital Management Llc sold 75,000 shares as the company’s stock declined 10.77% with the market. The hedge fund run by William C. Martin held 1.09M shares of the industrial specialties company at the end of 2018Q1, valued at $19.35 million, down from 1.16 million at the end of the previous reported quarter. Raging Capital Management Llc who had been investing in Steel Partners Hldgs LP for a number of months, seems to be less bullish one the $443.48M market cap company. The stock decreased 0.88% or $0.15 during the last trading session, reaching $16.95. About 11,594 shares traded. Steel Partners Holdings L.P. (NYSE:SPLP) has declined 5.43% since June 19, 2017 and is downtrending. It has underperformed by 18.00% the S&P500. Some Historical SPLP News: 18/04/2018 – John Ashe Named President and CEO of Lucas-Milhaupt Unit of Steel Partners Holdings; 24/05/2018 – BABCOCK & WILCOX TO REVIEW STEEL PARTNERS OFFER; 21/03/2018 – STEEL PARTNERS HOLDINGS LP SAYS ON MARCH 20, 2018, ENTERED INTO CONFIDENTIALITY AGREEMENT WITH BABCOCK & WILCOX ENTERPRISES INC – SEC FILING; 09/03/2018 – STEEL PARTNERS HOLDINGS LP SEES 2018 ADJUSTED EBITDA BETWEEN $184 MLN AND $225 MLN; 09/03/2018 – Steel Partners Holdings 4Q Adjusted EBITDA $38.7M; 23/05/2018 – STEEL PARTNERS HOLDINGS LP – ON MAY 23, SUBMITTED PROPOSAL TO BOARD OF BABCOCK & WILCOX ENTERPRISES WITH RESPECT TO ACQUISITION OF COMPANY; 09/03/2018 Steel Partners Holdings 4Q Loss/Shr 55c; 18/04/2018 – Steel Partners Holdings: Ashe Joins Lucas-Milhaupt From the FastenMaster Division of OMG Inc; 09/03/2018 – Steel Partners Holdings Sees FY18 Rev $1.5B-$1.6B; 13/03/2018 – Steel Partners Holdings Releases Annual Letter from Executive Chairman Warren Lichtenstein

Raging Capital Management Llc, which manages about $631.31M and $749.80M US Long portfolio, upped its stake in Xilinx Inc (NASDAQ:XLNX) by 306,031 shares to 455,031 shares, valued at $32.87 million in 2018Q1, according to the filing. It also increased its holding in Scorpio Tankers Inc (NYSE:STNG) by 1.26 million shares in the quarter, for a total of 6.40 million shares, and has risen its stake in Radcom Ltd (NASDAQ:RDCM).

Another recent and important Steel Partners Holdings L.P. (NYSE:SPLP) news was published by Seekingalpha.com which published an article titled: “Steel Partners: Undervalued Operating Business Poised To Outperform” on May 31, 2018.

Investors sentiment decreased to 0.83 in 2018 Q1. Its down 0.10, from 0.93 in 2017Q4. It fall, as 41 investors sold WAB shares while 131 reduced holdings. 37 funds opened positions while 106 raised stakes. 100.39 million shares or 2.05% less from 102.49 million shares in 2017Q4 were reported. Telemus Limited Liability, Michigan-based fund reported 5,588 shares. Aristotle Boston Limited Liability Corporation reported 128,266 shares. Scotia Capital holds 0.02% in Westinghouse Air Brake Technologies Corporation (NYSE:WAB) or 17,956 shares. Weiss Multi owns 90,000 shares for 0.23% of their portfolio. Sei has invested 0.06% of its portfolio in Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Tiaa Cref Invest Mgmt Limited Liability Com reported 228,552 shares stake. The United Kingdom-based Hermes Mgmt Limited has invested 0.5% in Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Ny State Teachers Retirement Sys holds 139,966 shares. Tdam Usa owns 8,580 shares. Gotham Asset Mgmt Ltd Liability Com stated it has 54,694 shares. Mackenzie Fin reported 0.26% in Westinghouse Air Brake Technologies Corporation (NYSE:WAB). Lazard Asset Mngmt Ltd Co invested in 3.78 million shares. Federated Invsts Pa accumulated 30,220 shares or 0.01% of the stock. 19,427 were accumulated by Stratos Wealth Ptnrs Ltd. Boston Private Wealth Limited Liability, a Massachusetts-based fund reported 3,514 shares.

More notable recent Westinghouse Air Brake Technologies Corporation (NYSE:WAB) news were published by: Fool.com which released: “The General Electric and Wabtec Merger: What It Means to Investors” on May 25, 2018, also Globenewswire.com with their article: “Wabtec Announces New Financing Arrangements” published on June 13, 2018, Seekingalpha.com published: “Wabtec and GE Transportation to merge” on May 21, 2018. More interesting news about Westinghouse Air Brake Technologies Corporation (NYSE:WAB) were released by: Nasdaq.com and their article: “4 Blue-Chip Stocks Rallying on a US-China Trade Deal” published on May 22, 2018 as well as Finance.Yahoo.com‘s news article titled: “General Electric Company’s Dividend Will Be Fine … Probably” with publication date: June 15, 2018.

Among 17 analysts covering Wabtec (NYSE:WAB), 12 have Buy rating, 0 Sell and 5 Hold. Therefore 71% are positive. Wabtec had 40 analyst reports since December 21, 2015 according to SRatingsIntel. The stock of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) earned “Overweight” rating by KeyBanc Capital Markets on Tuesday, May 8. Stifel Nicolaus maintained it with “Buy” rating and $106 target in Tuesday, May 8 report. The firm has “Buy” rating by KeyBanc Capital Markets given on Tuesday, October 24. As per Thursday, February 4, the company rating was downgraded by Goldman Sachs. The company was upgraded on Monday, April 23 by Stifel Nicolaus. The firm earned “Hold” rating on Monday, July 17 by Stifel Nicolaus. KeyBanc Capital Markets maintained the shares of WAB in report on Friday, September 15 with “Buy” rating. The stock has “Overweight” rating by KeyCorp on Wednesday, April 26. Longbow initiated the stock with “Buy” rating in Wednesday, June 21 report. The firm has “Buy” rating by Buckingham Research given on Wednesday, October 25.

Since May 23, 2018, it had 0 insider purchases, and 7 selling transactions for $14.53 million activity. Hehir Brian had sold 2,952 shares worth $284,437 on Wednesday, May 23. Another trade for 65,000 shares valued at $6.29 million was made by NEUPAVER ALBERT J on Tuesday, May 29. FERNANDEZ EMILIO sold $976,950 worth of stock. Another trade for 55,000 shares valued at $5.38M was made by KASSLING WILLIAM E on Thursday, May 31. $877,190 worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) was sold by WAHLSTROM SCOTT. BROOKS ROBERT J also sold $341,600 worth of Westinghouse Air Brake Technologies Corporation (NYSE:WAB) on Friday, May 25.

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) Institutional Positions Chart

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