Oops. Yes, it was a filing for Steel Excel (SXCL), another Warren L company. Gabelli and Warren L own about 1/2 of both of these companies.
Not sure where the $5 million or so will come from, but they are planning to buy another 5% or so of the outstanding shares. I assume that at some point when Gabelli and Warren get over 50% they will just figure out a way to take this private or cash out with a sale of the company.
On November 27, 2013, the Board of Directors of Steel Excel Inc., a Delaware corporation (the “Company”), approved the repurchase of up to an aggregate of 200,000 shares of the Company's common stock. Any such repurchases will be made from time to time on the open market at prevailing market prices or in negotiated transactions off the market, in compliance with applicable laws and regulations. The repurchase program is expected to continue through March 15, 2014, unless extended or shortened by the Board of Directors, and is in addition to the previously announced repurchase programs.
Sure looks like it. Buyers were also willing to stretch the price over $3.00 today. Just hope the company is able to execute to match expectations.
Looks like there are multiple issues going on there, but a wild ride none the less. Traded 500,000 share and there are only 1,000,000 outstanding. I think AEHR is really in better shape and doesn't have the legal issues referred to on the ATRM message board.
I heard from a solid source that someone had a bid in for 1,000 shares before the close at $2.55. He didn't get any of the shares, but somehow the closing trade was for 256 shares at $2.46. Seems a little funky. Maybe a make up trade for an earlier busted trade, but it still makes the stock look weaker than it should have.
11/22/2013 16:00:00 NASDAQ NM 256 2.46
11/22/2013 15:59:58 100 2.57
11/22/2013 15:57:01 NASDAQ NM 100 2.55
11/22/2013 15:50:20 NASDAQ NM 100 2.53
11/22/2013 14:59:57 700 2.6
11/22/2013 14:56:32 PSE 100 2.58
11/22/2013 14:42:09 NASDAQ NM 100 2.57
11/22/2013 14:42:09 NASDAQ NM 100 2.57
Looks like Private Wealth has taken a new position in AEHR during the last quarter. Private Wealth is a small fund, about $180 million and AEHR only makes up less than a quarter of one percent of their holdings, but it's a good sign. It's a little over 2% of AEHR's shares.
RYE, N.Y.--(BUSINESS WIRE)--Gabelli & Company will host its 6th Annual Best Ideas Conference on December 10th in New York City. This unique, multi-industry conference gives institutional investors an opportunity to observe best-in-class management teams that represent compelling and timely investment ideas. Investors should contact their salesperson for more information or to register.
American Vanguard Corp.
CIRCOR International, Inc.
Ascent Capital Group Inc.
Waste Connections, Inc.
G.research, Inc., an institutional research and brokerage firm, is a subsidiary of GAMCO Investors, Inc. (NYSE:GBL). Gabelli & Company is the marketing name for the registered broker dealer G.research, Inc.
Well, I am glad I kept most of my Raven, but will have to admit I am surprised with the strength of today's move up. I was kind of hoping to hear something about the Nemesis product line, but missed it if it was there. Feels like we are a little overvalued for the moment. But, the market is at record levels, so I guess Raven should be also. As a company, they are at least as good as the average company and probably much better over the longer term. I might consider selling some calls, but the spreads are huge and the premiums don't look that good to me.
That's true, the last 10 years average for Q1 through Q4 show Q3 and Q4 less than half of Q1 and Q2.
$0.12 $0.19 $0.06 $0.06
Aside from probably a raise for him, this may not mean that much to the company overall.
HOFFMAN ESTATES, IL--(Marketwired - Nov 18, 2013) - The Board of Directors of AMCOL International Corporation (NYSE: ACO) has appointed Gary L. Castagna to the position of Executive Vice President and Chief Operating Officer of AMCOL effective January 1, 2014. Mr. Castagna has been with the Company for more than 23 years. He has served as Senior Vice President of the Company and President of our Performance Materials segment since May 2008. Prior thereto, Mr. Castagna served as Senior Vice President and Chief Financial Officer and Treasurer of the Company. Mr. McKendrick, President and CEO, commented, "Gary has demonstrated strong leadership skills and has delivered excellent results in his current role. In his new role, he will continue to lead the Performance Materials segment and will bring his strong team building skills, along with operational and marketing expertise, to the other AMCOL segments."
FREMONT, Calif., Nov. 18, 2013 (GLOBE NEWSWIRE) -- Aehr Test Systems (AEHR), a worldwide supplier of semiconductor test and burn-in equipment, today announced that the Company's President and CEO, Gayn Erickson, is scheduled to participate in the following investor event:
2nd Annual Midtown CAP Summit
Marriott Marquis, New York, NY
December 11, 2013
Found this on a PR by Camtek, but AEHR is also scheduled it looks like:
On Wednesday, December 11th, 2013, Mr. Porat will be attending and meeting investors at the 2nd Annual Midtown CAP Summit in New York. The conference will be taking place at the Marriott Marquis in New York City.
ABOUT THE MIDTOWN CAP SUMMIT
The Midtown CAP Summit is hosted by executive management from the following participating companies: Aehr Test Systems (AEHR), Axcelis (ACLS), Brooks Automation (BRKS), Camtek (CAMT), Cascade Micro (CSCD), Cohu (COHU), Electro Scientific (ESIO), Entegris (ENTG), FormFactor (FORM), inTEST (INTT), Intevac (IVAC), LTX-Credence (LTXC), Mattson Technology (MTSN), Nanometrics (NANO), Nova Measuring (NVMI), Rudolph Technologies (RTEC), Tessera (TSRA), Ultra Clean Technology (UCTT) and Ultratech (UTEK), and will feature a “round-robin” format consisting of a series of small group meetings.
I checked the Nov. 2008 Form 4 filings again and I think this is about the end of it. At this closing price, any remaining options are out of the money, so they would lose money under $2.25. "Should" be the bottom.
Went from $8.00 in sales to a massive $1,382.00 this quarter. That same growth rate will put them at $40 million in sales in just a couple of quarters. Of course year over year, they only increased revenues by $200 for the first nine months, so MAYBE they can't match that growth rate.
I checked the filings from 2008 when these were granted. Looks like these were given Nov. 17, 2008. There may be a couple more associated with this grant, but I think a couple of the recipients have left the company, so I don't know if they still have the options. If so, they may not be required to file Form 4's. Of course, now is the first time it has been profitable to exercise those and they may have already done so and sold the shares.
Looks like the next group of grants won't expire until June 30, 2014. Those were issued after the share price had tanked and have a strike price of about $0.85 per share.
Also looks like Carl Buck exercised options on 2,500 shares at $2.25 and sold them at $2.59. His current holdings are shown at 70,617 shares following this action.
HOFFMAN ESTATES, IL--(Marketwired - Nov 6, 2013) - AMCOL International Corporation (NYSE: ACO) announced today that it is furnishing more than 1.5 million square meters (16 million+ square feet) of its Resistex®geosynthetic clay liner (GCL) product to a new aluminum processing facility in Saudi Arabia. The $25.3 million contract includes supply of the GCL and all other components of the multi-layer lining system.
The lining materials will be used in the construction of an on-site disposal facility at a new alumina refinery being constructed by Ma'aden Bauxite and Alumina Company, a joint venture between ALCOA Inc. and Saudi Ma'aden Mining Company. The contract is with Hyundai Engineering and Construction Co., based in Seoul, Korea.
SEC filing shows Gary Larson to be the seller. He exercised 12,000 at $2.25 and sold them at $2.55. Not a big profit and maybe he just doesn't feel comfortable holding more than the 100,000 shares he still owns. Let's see if anyone else sells.