Gabelli, Gamco continue to invest in Hawk, lift stake to 14.68%

By Lisa Kerner

Charlotte, N.C., May 11 - Hawk Corp. investors led by Gabelli Funds, LLC and Gamco Asset Management Inc. increased their stake in the company to 14.68% with the purchase of 73,200 shares, according to a schedule 13D/A filing with the Securities and Exchange Commission on Monday.

The shares were acquired between March 19 and May 8 and were priced from $9.70 to $15.38 each, the filing said.

In March, the investors asked Hawk's board of directors to consider increasing the poison pill threshold for ownership of outstanding shares above the 15% limit for shareholders that file schedules 13G/13D with the SEC.

Gabelli, Gamco and their affiliates beneficially own 1,203,670 shares of the Cleveland friction products manufacturer.

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