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.
I think companies do that to avoid having to fire someone that doesn't work out. It is smoother to let them go at the end of say 6 months.
At the end of the ad, they said it could turn into a permanent position at some point.
If I am reading the filings correctly, it looks like 3 directors exercised options on 25,000 shares at $2.30 per share this week. These options were in the money and due to expire, so they had to do something or lose them. So far, no sales. A good sign if it holds up. At most companies, these would have been exercised and cashed in immediately.
I think this is a new listing.
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Basically a repeat of last quarter. Revenues were up to a new record for any quarter and increased $9 million over last year. Earnings were down slightly from last year in spite of the revenue increase. They suggest that these expense increases will translate into better earnings down the road, but have been saying this for quite some time. Trying to read between the lines, it seems like they were really more positive for 2014 than I have heard in the past. It hasn't been a bad investment for me, but just hasn't made the big move that I kind of expected. The dividend is nice and I will just keep my shares and see what happens.
Stock up $1.50 so far today on low volume, so others must agree with my take on holding tight.
I will be mighty disappointed if we get a lousy report. Sure looks like someone knows what the report will look like and it may not be pretty. Market has been up all week and the stock is tanking.
Marla, I think the dividend is still very safe at these levels. Aside from the "special" loss this quarter, they should still earn near $2.00 per share this year and are only paying out $0.80 in dividends. Fairly conservative payout ratio and it would be a big embarrassment for management to have to cut the dividend. I am just disappointed with the execution on the chromite business and how long it has taken to figure out that it is a loser. Most of their other businesses seem to be OK. I will give them a little more time to straighten this out, but I don't expect the share price to do much in the near term. I'm not an expert, but that's my take. Good luck.
American Vanguard Corporation (AVD), today announced that it will report financial results for the 2013 third quarter ended September 30, 2013 on Thursday, October 31, 2013 after the close of the stock market.
Eric Wintemute, Chairman and CEO, and David T. Johnson, CFO, will conduct a conference call focusing on the financial results at 4:30 pm ET / 1:30 pm PT on Thursday, October 31, 2013. Interested parties may participate in the call by dialing (201) 493-6744 – please dial in 10 minutes before the call is scheduled to begin, and ask for the American Vanguard call.
Here is an excerpt from a Sep. 2011 report on "tight supplies" in chromite and the new SA Amcol facility:
The tight market conditions for non-met. grades have heightened the interest in the emergence of new sources of supply specifically for non-met. chromite grades, but it has not been plain sailing for the newcomers.
In South Africa, US foundry minerals supplier Amcol International Corp. has brought on stream a new $50m. chromite processing facility at its Ruighoek Chrome project in South Africa to supply its new Hevi-sand foundry chromite brand targeting customers in Asia, Europe, and South America.
Amcol’s development has been in response to the growing shortage of foundry grade chromite, and a perceived lack of “meaningful commitment” from South African suppliers, which was threatening long term customer relationships.
Amcol’s strategy was not to compete with the metallurgical grade market, but to focus on a new high yield foundry sand source. Through careful processing of chromite ore from the LG6 ore body, Amcol’s aim is to deliver a grade of high chrome content (47.5% Cr2O3), low silica levels (0.7% SiO2), and in a range of consistent sizes, 25-70 AFS.
However, in its second quarter 2011 results, Amcol reported that the rest of 2011 would remain challenging, and for the year, the Illinois-based company expects its chromite operation to generate losses of 8-12 cents per share as the plant is upgraded to improve product yields.
Joe Howden, director business development, Amcol International Foundries Group, told IM: “As with all new plants, we have had some start-up problems, these have and are being addressed via modifications and further investment to increase capacity.”
HOFFMAN ESTATES, Ill., May 22, 2009 /PRNewswire-FirstCall/ -- AMCOL International Corporation (NYSE: ACO - News) has approved funding for an investment in a chromite processing facility in the Republic of South Africa ("RSA"). On February 23, 2009, AMCOL announced it acquired a 53% controlling interest in a chromite mine in the RSA. Chromite is a key ingredient in molds that are used in the production of heavy-steel castings. An example of these castings, which generally weigh more than four metric tons, is a turbine housing in a power station. AMCOL, through its subsidiary, American Colloid Company, is a leading supplier of chromite sand to U.S. foundries.
The plant will be constructed on the mine site, Farm Ruighoek 169, which is located in the North West Province. Estimated cost of the facility, including infrastructure for future expansion, is ZAR 130 million ($15.3 million). A RSA-based firm has been engaged to design, engineer, procure and manage construction of the facility. The plant, which has a design capacity of 100,000 metric tons, is expected to produce at commercial-scale in April, 2010.
Gary Castagna, President, Global Minerals commented "The Ruighoek facility will employ technology specifically designed to produce foundry-grade chromite sand as well as other high-value grades. The process will allow us to produce consistent, high-quality product that can be tailored for different casting designs. As a direct supplier, our customers will have better assurance they will receive the best quality product plus technical service at the exceptional levels for which we are known in the iron-castings industry."
Larry Washow, Chief Executive Officer, also noted "This plant investment coupled with our controlling interest in a high-quality reserve will enable AMCOL to become a global leader in foundry-grade chromite sand. The RSA investment has the potential to become a significant contributor to earnings within the next few years."
Couldn't remember who was in charge when they bought this chromite business. Looks like it was Washow. Originally, they invested $15 million. Not sure how much additional capital was invested trying to get it to run properly, but they wrote off $52 million today and still own the operation. Maybe that purchase was the start of Washow's downfall. Wonder what they are valuing the chromite SA business at currently. Seems like the story on the chromite business has changed every quarter, but never for the better.
Thanks for posting Algo. Almost wish I could call myself a former shareholder. They have been struggling with the chromite business almost from the start. Maybe this will be the kitchen sink quarter that gets all the bad stuff thrown out, but I'm not so sure. Going to listen to the CC in a minute, maybe they will give some idea if they have a plan to get things going.
Record revenues for any quarter and record earnings for any Q3. Still, it's selling at a 20x multiple, but earnings will likely be up 40% this year. Who knows about next year? Not cheaply priced, but the growth has been quite good.
It will be interesting to see the results from Adler this quarter with all the talk about the oil production boom. I would think we surely have relocated our excess inventory to area that really need the tanks.
LIVERMORE, Calif., Oct. 9, 2013 (GLOBE NEWSWIRE) -- McGrath RentCorp (MGRC) (the "Company"), a diversified business to business rental company, today announced that it plans to release financial results for its third quarter of fiscal 2013, ending September 30, 2013, after the close of regular market trading on Wednesday, October 30, 2013.
McGrath RentCorp will host a conference call at 5:00 p.m. Eastern Time (2:00 p.m. Pacific Time) that afternoon to discuss the results.
If you look at the lone analyst's estimates that Yahoo shows, the estimate for this quarter's earnings have gone from .77 two months ago to .27 one month ago and now to .11. Yet, the share price has held up fairly well. We are less than 2 weeks from the end of the quarter, so the analyst may have a good idea what he is talking about. Still, why has the share price held up. I am long, but a little concerned about the timing of any increase in business. Seems like Europe is starting to recover, but slowly.
Current Estimate 0.11 0.17 1.06 0.82
7 Days Ago 0.27 0.25 1.24 1.40
30 Days Ago 0.27 0.25 1.24 1.40
60 Days Ago 0.77 0.54 2.35 2.53
90 Days Ago 0.77 0.54 2.35 2.53