Pirate Capital Lowers Stake in Walter Industries (WLT) to 5.7%

In an amended 13D filing on Walter Industries, Inc. (NYSE: WLT), Pirate Capital disclosed a 5.7% stake (2.9 million shares) in the company. This is down from the 3.17 million share stake Pirate disclosed for the quarter ended September 30, 2006. The firm held 3.7 million shares for the quarter ended June 30, 2006.

NOTE: Pirate Capital has been liquidating a number of positions recently following the hedge-funds shake-up in the fall.