In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Rentech Inc. (NASDAQ:RTK) reported that Raging Capital Management has picked up 4,366,781 of common stock as of 2017-03-09.
The acquisition brings the aggregate amount owned by Raging Capital Management to a total of 4,366,781 representing a 18.8% stake in the company.
For those not familiar with the company, Rentech, Inc. is a provider of wood fiber processing services, wood chips and wood pellets. The Company’s processing business includes Fulghum Fibres, Inc. (Fulghum), which operates approximately 30 wood chipping mills in the United States and South America. The Company provides wood yard operations services. The Company operates a wood fiber processing business. The Company’s segments include Fulghum Fibres, which involves the operations of Fulghum; Wood Pellets: Industrial, which includes its facilities and wood pellet development activities, and Wood Pellets: New England Wood Pellet, LLC (NEWP), which involves in the operations of NEWP and produces wood pellets for the residential and commercial heating markets in the United States, and it also includes Allegheny Pellet Corporation’s (Allegheny’s) operations.
A glance at Rentech Inc. (NASDAQ:RTK)’s key stats reveals a current market capitalization of 17.30 Million based on 23.19 Million shares outstanding and a price at last close of $0.759 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2017-03-07, Martin picked up 441,285 at a purchase price of $0.77. This brings their total holding to 4,366,781 as of the date of the filing.
On the sell side, the most recent transaction saw Morris unload 15,000 shares at a sale price of $2.32. This brings their total holding to 476,197.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Rentech Inc. (NASDAQ:RTK) as things move forward to see if its progress aligns with these transactions.
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