Calgon Carbon Corporation (CCC): Jeff Smith’s Starboard Has Trimmed its Stake in the Company

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Jeffrey Smith‘s Starboard Value has reduced its exposure to Calgon Carbon Corporation (NYSE:CCC), as a new filing with the SEC shows. Starboard reported holding 2.59 million shares of Calgon Carbon Corporation (NYSE:CCC), the stake amassing 4.9% of the outstanding stock. Earlier, the fund’s position contained 3.25 million shares, equal to 6.0% of the common stock. Starboard’s stake in Calgon Carbon is activist by nature.

The stock of the $1.14 billion Calgon Carbon Corporation (NYSE:CCC), which is engaged in production of activated carbon, has edged up by 4% since the beginning of the year. While Jeff Smith reduced his fund’s holding in the company by 24% during the first quarter, Jim Simons of Renaissance Technologies has added  Calgon Carbon Corporation (NYSE:CCC) to the Renaissance’s equity portfolio during the same period, revealing ownership of 215,700 shares in the latest 13F filing.

 

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