ValueAct SmallCap reduces Standard Pacific stake to 1.9%

By Jennifer Chiou

New York, Sept. 21 - Standard Pacific Corp. investor ValueAct SmallCap Master Fund decreased its stake in the company and now own 1,241,843 shares, or 1.9%, of Standard Pacific's outstanding common stock.

ValueAct sold the shares between Aug. 1 and Sept. 19, priced from $7.63 to $14.40 each.

Specifically, on Aug. 1, the company sold 2,600 shares at $14.00, 84,100 shares at $14.01 and another 250,000 at $14.00. ValueAct SmallCap sold 250,000 shares at $14.40 on Aug. 2 and 411,054 more shares at $7.76 on Sept. 13 as well as 588,946 shares at $7.63 on Sept. 14. Finally, the company sold 519,500 shares at $10.09 on Sept. 19.

The transactions were reported in a schedule 13D filing with the Securities and Exchange Commission.

The 1.9% stake is a reduction from 5.2% reported on Aug. 9.

Standard Pacific is an Irvine, Calif., home construction company.

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