Barington Capital Group on Wednesday said that it was urging the board of Ameron International Corp to get rid of Chief Executive James Marlen, claiming that his management has hurt the company’s share price.

The New York City hedge fund, which holds shares of the Pasadena pipe maker, said Ameron shares should be trading above $100, rather than the $76.65 it closed at on Wednesday. It cited several positive attributes, including an asset-rich balance sheet, valuable joint ventures, attractive markets and leading positions for its businesses. Shares appreciated about 12 percent last year.

“It is Barington’s belief that Mr. Marlen has failed for years to take full advantage of the tremendous opportunities for long-term value creation available for the Company and should therefore be replaced,” said Barington in a press release, which urged Ameron to cut costs, sell its Hawaii infrastructure business and focus on its core water transmission and fiberglass-composite pipe businesses.

Marlen has lead Ameron since 1993, and three sons hold executive positions at either the company or a partner firm. Barington’s founder, James Mitarotonda, said in a letter to the board Tuesday that Marlen’s compensation package was “unjustifiably high” at 72 percent above the average for chief executives in his peer group.

Last year, Marlen, 68, had a base salary of $918,269 and total compensation of $5.86 million, according to the company’s most recent proxy statement.

Ameron has not responded to Barington’s statements.