Third Point Adds To Xerium Technologies (XRM) Position ~ market folly

Tuesday, May 10, 2011

Third Point Adds To Xerium Technologies (XRM) Position

Dan Loeb's Third Point LLC just filed an amended 13G with the SEC regarding shares of Xerium Technologies (XRM). Due to portfolio activity on May 5th, Third Point has revealed a 11.3% ownership stake in XRM with 1,700,000 shares.

This marks an increase in their position size of 18%. Loeb's fund held 1,436,405 shares at the end of 2010. The company recently announced a plan to refinance its credit facilities. For more on Third Point, check out our post on their latest exposure levels as well as their focus on spin-outs.

Per Google Finance, Xerium Technologies is "a global manufacturer and supplier of two types of consumable products used primarily in the production of paper: clothing and roll covers."

To learn to invest like this manager, head to Dan Loeb's recommended reading list.

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