UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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SCHEDULE 13D*
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Portec Rail Products, Inc.
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(Name of Issuer)
Common Stock, par value $1.00 per share
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(Title of Class of Securities)
736212101
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(CUSIP Number)
Mark Goldstein
First Eagle Investment Management, LLC
1345 Avenue of the Americas
New York, New York 10105
(212) 698-3101
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
June 2, 2010
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(Date of Event which Requires
Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G
to report the acquisition that is the subject of this Schedule 13D, and is
filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the
following box. [ ]
NOTE: Schedules filed in paper format shall include a signed original
and five copies of the schedule, including all exhibits. See Rule 13d-7 for
other parties to whom copies are to be sent.
(Continued on following pages)
(Page 1 of 7 Pages)
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* The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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CUSIP NO. 736212101 SCHEDULE 13D/A PAGE 2 OF 5 PAGES
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1 NAME OF REPORTING PERSON
First Eagle Investment Management, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [ ]
(b) [ ]
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3 SEC USE ONLY
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4 SOURCE OF FUNDS*
AF
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5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT
TO ITEMS 2(d) or 2(e) [ ]
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6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
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7 SOLE VOTING POWER
488,397
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NUMBER OF 8 SHARED VOTING POWER
SHARES
BENEFICIALLY -0-
OWNED BY ---------------------------------------------------------
EACH 9 SOLE DISPOSITIVE POWER
REPORTING
PERSON WITH 488,397
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10 SHARED DISPOSITIVE POWER
-0-
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11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH PERSON
488,397
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12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES
CERTAIN SHARES*
[ ]
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13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
5.09%
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14 TYPE OF REPORTING PERSON*
IA
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CUSIP NO. 736212101 SCHEDULE 13D/A PAGE 3 OF 5 PAGES
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ITEM 1. SECURITY AND ISSUER.
This constitutes Amendment No. 2 (this "Amendment") to the Schedule 13D
previously filed by the Reporting Person on March 22, 2010 and amended on
April 22, 2010 (collectively the "Original Schedule 13D") with respect
to shares of common stock, $1.00 par value per share (the "Shares"), of Portec
Rail Products, Inc. (the "Issuer"). Capitalized terms used herein and not
otherwise defined in this Amendment have the meanings set forth in the Original
Schedule 13D. This Amendment amends Item 5 as set forth below.
ITEM 5. INTEREST IN SECURITIES OF THE COMPANY.
(a) As of the close of business on June 3, 2010, the Reporting
Person is deemed to be the beneficial owner of 488,397 Shares, constituting
approximately 5.09% of the Shares outstanding. The aggregate percentage of
Shares reported herein is based upon 9,602,029 Shares outstanding, which is the
total number of Shares outstanding as of April 30, 2010 as reported in the
Issuer's Quarterly Report on Form 10-Q filed on May 7, 2010 for the quarterly
period ended March 31, 2010.
(b) By virtue of investment management agreements with its clients, the
Reporting Person shares with such clients voting and dispositive powers over the
488,397 Shares reported herein, which powers are exercised by the Principals
and the Portfolio Managers.
(c) Information concerning transactions in the Shares effected by the
Reporting Person since the filing of the Original Schedule 13D is set forth
in Schedule A hereto and is incorporated herein by reference. Except as
otherwise indicated, all of the transactions in Shares listed on Schedule A
hereto were effected in the open market.
(d) Clients of the Reporting Person have the right to receive and the
ultimate power to direct the receipt of dividends from, or the proceeds of the
sale of, the Shares reported herein.
(e) Not applicable.
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CUSIP NO. 736212101 SCHEDULE 13D/A PAGE 4 OF 5 PAGES
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, the
undersigned certifies that the information set forth in this statement is true,
complete and correct.
Dated: June 3, 2010
FIRST EAGLE INVESTMENT MANAGEMENT, LLC
By: /s/ Mark Goldstein
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Name: Mark Goldstein
Title: Senior Vice President
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CUSIP NO. 736212101 SCHEDULE 13D/A PAGE 5 OF 5 PAGES
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SCHEDULE A
TRANSACTIONS IN THE SHARES BY THE REPORTING PERSON SINCE THE FILING OF THE
ORIGINAL SCHEDULE 13D
Unless otherwise indicated, all trades were effected in the open market through
brokers.
Date of Transaction Shares Purchased (Sold) Price Per Share ($)
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5/26/10 15,042 11.40
5/27/10 12,343 11.38
5/28/10 28,409 11.44
6/01/10 17,966 11.39
6/02/10 38,778 11.41
6/03/10 50,329 11.41