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Ariel Investments cuts stake to 1.7% in Black & Decker
By E. Janene Geiss
Philadelphia, Jan. 9 - Ariel Investments, LLC slashed its investment to 1.7% in Black & Decker Corp. as of Dec. 31, according to an SC 13G/A filing with the Securities and Exchange Commission.
That represents a passive stake of 1,009,379 shares.
Those holdings are down from the passive stake of 6.8%, or 4,250,110 shares, that Ariel reported owning on Dec. 31, 2007.
Ariel first reported owning a passive stake of 6.9%, or 4,676,706 shares, on Dec. 31, 2006.
Black & Decker is a Towson, Md., maker of power tools and accessories.
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