Wilks Brothers Files 13D on Carbo Ceramics (CRR), Indicating Activist Position
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In a 13D filing on Carbo Ceramics (NYSE: CRR), fund Wilks Brothers disclosed a 5.6%, or 1,305,676 share, stake in the company. The firm changed its filing from 13G to 13D, indicating an activist position.
From the filing:
The Reporting Person typically does not file Schedule 13D reports because, even when it acquires a significant stake in companies, it typically does not seek to change or influence the control of the companies in which it invests. In the case of the Company, however, the Reporting Person believes that due to ongoing relative and absolute underperformance of the Company’s stock price, the Reporting Person may need to take a more active role in order to preserve and maximize the value of its investment and, in turn, maintain and increase value for the benefit of all shareholders. As a result, the Reporting Person has engaged, and expects to continue to engage, in discussions with management, the board of directors, other stakeholders of the Company and other relevant parties concerning the business, operations, management, strategy and future plans of the Company.
For more notable holders of CARBO CERAMICS, Inc. stock click here.
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