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Aimee Katz, a former 10% owner of Zurn Elkay Water Solutions Corp (NYSE:ZWS), recently sold a significant portion of her holdings in the company. On February 13, 2025, Katz sold 8,912,500 shares of common stock at a price of $33.60 per share, amounting to a total transaction value of approximately $299.46 million. This sale was conducted through Ice Mountain LLC, a company associated with Katz, as part of a secondary offering managed by Evercore Group L.L.C. The transaction comes as ZWS shares trade at $35.79, with the company maintaining a market capitalization of $6.09 billion.
Following this transaction, Katz’s indirect ownership through Ice Mountain LLC now stands at 15,002,819 shares. This move comes after a previous acquisition of 461,155 shares, which were added to her holdings in August 2024, as part of a release from an escrow share deposit related to a merger with Elkay Manufacturing Company. According to InvestingPro data, tracking insider transactions is crucial as ZWS has shown a strong 16.42% return over the past year.
Katz’s transactions reflect significant changes in her stake in Zurn Elkay, a company known for its industrial machinery and equipment solutions. Currently trading at a P/E ratio of 38.5, InvestingPro analysis indicates the stock is slightly overvalued, though it maintains a "GOOD" overall financial health score. For deeper insights into ZWS’s valuation and 8 additional ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Zurn Elkay Water Solutions Corporation has initiated a public offering of shares previously held by Ice Mountain LLC, with a plan to repurchase approximately $50 million of its common stock. The offering includes 7,750,000 shares, with underwriters having a 30-day option to buy an additional 1,162,500 shares. Notably, Zurn Elkay will not issue new stock or receive proceeds from this offering. Evercore ISI, Baird, BNP Paribas (OTC:BNPQY), Deutsche Bank (ETR:DBKGn) Securities, Mizuho (NYSE:MFG), Oppenheimer & Co., and Stifel are managing the transaction.
Zurn Elkay also recently disclosed its financial results for the quarter ending December 31, 2024. This follows the regulations of the Securities Exchange Act of 1934, providing investors with the latest data on the company’s financial health. The detailed account of Zurn Elkay’s financial performance is essential for informed decision-making, offering a snapshot of the company’s operations and conditions.
These are recent developments for the company, which has been recognized as one of America’s Most Responsible Companies by Newsweek and one of the World’s Best Companies for Sustainable Growth by TIME.
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