Scott Dolan, President and Chief Executive Officer of A M Castle and Co (NYSE:CAS), acquired 26,600 shares of Common Stock this week. The transaction was executed directly, over two days and commenced by buying 200 shares for $8.98 per share and 13,800 shares for $9.00 each share on Monday. The remaining 12,600 shares of Common Stock were purchased on Tuesday for a price of $9.00 per share, thereby completing the acquisition. This is Dolan’s first stock purchase since May, when he bought 23,900 shares, paying a price of $12.88 per share. Following yesterday’s buy, the insider now owns a total of 119,154 company shares.
However, while insiders’ at the $230.4 million market cap specialty metals and plastics distributor have been purchasing stock, several hedge funds decreased their stakes in the firm last quarter. Joel Ramin’s 12 West Capital Management, for one, lowered A M Castle’s portfolio participation by 6% during Q1, leaving the hedge fund with 2.13 million shares, worth approximately $30.78 million.