Gencorp investors profited from a sale of stock.
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General Partners, the investment group that unsuccessfully tried to take over Gencorp, has sold 250,000 shares in the company, realizing gross profits of $9.25 million. The stock sale lowered the partnership’s stake in Gencorp to 8.6% from 9.8%. This is the second time in the past six months that the partners, AFG Industries of Irvine and Wagner & Brown of Midland, Tex., have turned a substantial profit in the stock market after failing in an attempt to take over a major corporation.
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