Hong Kong Firm Largest Shareholder in Smith

Recent stock purchases have made Industrial Equity (Pacific) Ltd., a Hong Kong-based investment firm, the largest shareholder in Smith International Inc., with 14.2% of the Irvine-based oil service company’s common stock. Robert E. Torray & Co. Inc., a Bethesda, Md., investment management firm which a year ago was the largest single Smith shareholder with control of 18.5% of the company’s stock, has slipped to second place. After stock sales by some of its client investors, Torray now controls 11.4% of Smith.