This company has been acquiredThe company may no longer be operating, as it has been acquired. Find out why through their latest events.See Latest EventsTrecora Resources（TREC）株式概要Trecora Resources manufactures and sells various specialty petrochemicals products and specialty waxes in the United States. 詳細TREC ファンダメンタル分析スノーフレーク・スコア評価0/6将来の成長0/6過去の実績1/6財務の健全性6/6配当金0/6報酬今年は黒字化を達成 リスク分析過去5年間で収益は年間38.3%減少しました。 財務結果に影響を与える大きな一時的項目 過去3か月間に大規模なインサイダー売却が発生 すべてのリスクチェックを見るTREC Community Fair Values Create NarrativeSee what others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueUS$Current PriceUS$9.81該当なし内在価値ディスカウントEst. Revenue$PastFuture-9m306m2016201920222025202620282031Revenue US$305.7mEarnings US$9.1mAdvancedSet Fair ValueView all narrativesTrecora Resources 競合他社Core Molding TechnologiesSymbol: NYSEAM:CMTMarket cap: US$202.4mSisecam ResourcesSymbol: NYSE:SIREMarket cap: US$511.9mWestlake Chemical PartnersSymbol: NYSE:WLKPMarket cap: US$800.4mAdvanSixSymbol: NYSE:ASIXMarket cap: US$607.9m価格と性能株価の高値、安値、推移の概要Trecora Resources過去の株価現在の株価US$9.8152週高値US$9.8252週安値US$7.46ベータ0.331ヶ月の変化0.93%3ヶ月変化15.28%1年変化16.65%3年間の変化2.51%5年間の変化-12.80%IPOからの変化361.65%最新ニュースお知らせ • Jun 26Trecora Resources(NYSE:TREC) dropped from Russell Microcap IndexTrecora Resources(NYSE:TREC) dropped from Russell Microcap Indexお知らせ • Jun 25Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC).Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. Balmoral commenced the Offer on May 25, 2022. Subject to the terms and conditions of the Merger Agreement and the Offer, the Offer is initially scheduled to expire at 12:00 a.m., New York City time, on June 24, 2022 (one minute after 11:59 p.m. on the 20th business day following (and including the day of) the commencement of the Offer), unless the offer is extended or earlier terminated pursuant to the applicable provisions of the merger agreement. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. As of May 25, 2022, the parties have determined that a filing under the HSR Act is not required and desire to amend the Merger Agreement. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen, James Barnes and Alan Lieblich of Blank Rome LLP acted as legal advisors to Balmoral. Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC) on June 24, 2022. The tender offer expired at 12:00 A.M., New York City time on June 24, 2022. As of the expiration of the tender offer, a total of 16,781,352 Shares were validly tendered and not withdrawn from the tender offer, representing approximately 70.73% of the aggregate voting power of the Shares. The number of Shares validly tendered and not withdrawn pursuant to the Offer satisfies the Minimum Condition. All conditions to the Offer having been satisfied or waived. As a result of its acceptance of the Shares tendered in the tender offer, Balmoral Funds LLC acquired a sufficient number of Shares to close the merger without the affirmative vote of stockholders of Trecora. In connection with the merger, the remaining outstanding shares will be converted into the right to receive $9.81 per Share in cash. As a result of the tender offer and the merger, Trecora will become a privately-held, indirect wholly-owned subsidiary of Balmoral and Trecora's common stock will cease trading on the New York Stock Exchange.Recent Insider Transactions • Jun 02Insider recently sold US$3.9m worth of stockOn the 27th of May, Bradley Radoff sold around 404k shares on-market at roughly US$9.72 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.4m more than they sold in the last 12 months.Board Change • Jun 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Janet Roemer was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Recent Insider Transactions Derivative • May 18Independent Chairman of the Board exercised options to buy US$125k worth of stock.On the 14th of May, Karen Twitchell exercised options to buy 13k shares at a strike price of around US$9.57, costing a total of US$125k. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since June 2021, Karen has owned 38.93k shares directly. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months.お知らせ • May 13Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million.Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen and Alan Lieblich of Blank Rome LLP acted as legal advisor to Balmoral.最新情報をもっと見るRecent updatesお知らせ • Jun 26Trecora Resources(NYSE:TREC) dropped from Russell Microcap IndexTrecora Resources(NYSE:TREC) dropped from Russell Microcap Indexお知らせ • Jun 25Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC).Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. Balmoral commenced the Offer on May 25, 2022. Subject to the terms and conditions of the Merger Agreement and the Offer, the Offer is initially scheduled to expire at 12:00 a.m., New York City time, on June 24, 2022 (one minute after 11:59 p.m. on the 20th business day following (and including the day of) the commencement of the Offer), unless the offer is extended or earlier terminated pursuant to the applicable provisions of the merger agreement. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. As of May 25, 2022, the parties have determined that a filing under the HSR Act is not required and desire to amend the Merger Agreement. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen, James Barnes and Alan Lieblich of Blank Rome LLP acted as legal advisors to Balmoral. Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC) on June 24, 2022. The tender offer expired at 12:00 A.M., New York City time on June 24, 2022. As of the expiration of the tender offer, a total of 16,781,352 Shares were validly tendered and not withdrawn from the tender offer, representing approximately 70.73% of the aggregate voting power of the Shares. The number of Shares validly tendered and not withdrawn pursuant to the Offer satisfies the Minimum Condition. All conditions to the Offer having been satisfied or waived. As a result of its acceptance of the Shares tendered in the tender offer, Balmoral Funds LLC acquired a sufficient number of Shares to close the merger without the affirmative vote of stockholders of Trecora. In connection with the merger, the remaining outstanding shares will be converted into the right to receive $9.81 per Share in cash. As a result of the tender offer and the merger, Trecora will become a privately-held, indirect wholly-owned subsidiary of Balmoral and Trecora's common stock will cease trading on the New York Stock Exchange.Recent Insider Transactions • Jun 02Insider recently sold US$3.9m worth of stockOn the 27th of May, Bradley Radoff sold around 404k shares on-market at roughly US$9.72 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.4m more than they sold in the last 12 months.Board Change • Jun 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Janet Roemer was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.Recent Insider Transactions Derivative • May 18Independent Chairman of the Board exercised options to buy US$125k worth of stock.On the 14th of May, Karen Twitchell exercised options to buy 13k shares at a strike price of around US$9.57, costing a total of US$125k. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since June 2021, Karen has owned 38.93k shares directly. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months.お知らせ • May 13Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million.Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen and Alan Lieblich of Blank Rome LLP acted as legal advisor to Balmoral.Reported Earnings • May 06First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: US$15.93 loss per share. Revenue: US$83.2m (up 52% from 1Q 2021). Net loss: US$376.0k (loss narrowed 92% from 1Q 2021). Revenue missed analyst estimates by 11%. Earnings per share (EPS) were also behind analyst expectations.Board Change • May 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Janet Roemer was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.分析記事 • May 02Capital Allocation Trends At Trecora Resources (NYSE:TREC) Aren't IdealIf you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...お知らせ • Apr 26Trecora Resources to Report Q1, 2022 Results on May 04, 2022Trecora Resources announced that they will report Q1, 2022 results After-Market on May 04, 2022Recent Insider Transactions Derivative • Mar 24President exercised options and sold US$51k worth of stockOn the 18th of March, Patrick Quarles exercised options to acquire 6k shares at no cost and sold these for an average price of US$8.67 per share. This trade did not impact their existing holding. For the year to December 2018, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick's direct individual holding has increased from 253.31k shares to 307.41k. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months.Reported Earnings • Mar 10Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: US$0.20 (up from US$0.20 in FY 2020). Revenue: US$272.7m (up 31% from FY 2020). Net income: US$4.96m (flat on FY 2020). Profit margin: 1.8% (down from 2.4% in FY 2020). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.Recent Insider Transactions Derivative • Mar 03President exercised options and sold US$67k worth of stockOn the 25th of February, Patrick Quarles exercised options to acquire 8k shares at no cost and sold these for an average price of US$8.90 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick's direct individual holding has increased from 253.31k shares to 293.47k. Company insiders have collectively bought US$6.4m more than they sold, via options and on-market transactions, in the last 12 months.お知らせ • Feb 18Trecora Resources to Report Q4, 2021 Results on Mar 08, 2022Trecora Resources announced that they will report Q4, 2021 results After-Market on Mar 08, 2022Recent Insider Transactions Derivative • Feb 17President exercised options and sold US$107k worth of stockOn the 15th of February, Patrick Quarles exercised options to acquire 12k shares at no cost and sold these for an average price of US$8.77 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick's direct individual holding has increased from 253.31k shares to 270.81k. Company insiders have collectively bought US$6.5m more than they sold, via options and on-market transactions, in the last 12 months.Recent Insider Transactions Derivative • Dec 08President exercised options and sold US$63k worth of stockOn the 3rd of December, Patrick Quarles exercised options to acquire 8k shares at no cost and sold these for an average price of US$8.41 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick has owned 253.31k shares directly. Company insiders have collectively bought US$6.4m more than they sold, via options and on-market transactions, in the last 12 months.Recent Insider Transactions • Nov 20Insider recently bought US$709k worth of stockOn the 16th of November, Bradley Radoff bought around 87k shares on-market at roughly US$8.15 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$4.2m. Insiders have collectively bought US$6.2m more in shares than they have sold in the last 12 months.分析記事 • Nov 11Trecora Resources (NYSE:TREC) Could Be At Risk Of Shrinking As A CompanyWhen we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...Reported Earnings • Nov 06Third quarter 2021 earnings released: EPS US$0.077 (vs US$0.045 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$74.6m (up 56% from 3Q 2020). Net income: US$1.88m (up 70% from 3Q 2020). Profit margin: 2.5% (up from 2.3% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.Recent Insider Transactions • Sep 25Insider recently bought US$1.1m worth of stockOn the 22nd of September, Bradley Radoff bought around 140k shares on-market at roughly US$8.18 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$4.2m. Insiders have collectively bought US$5.2m more in shares than they have sold in the last 12 months.分析記事 • Sep 13Is Trecora Resources (NYSE:TREC) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...Recent Insider Transactions • Sep 11Insider recently bought US$4.2m worth of stockOn the 8th of September, Michael Torok bought around 516k shares on-market at roughly US$8.13 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$3.1m more in shares than they have sold in the last 12 months.Recent Insider Transactions • Aug 11Insider recently sold US$3.9m worth of stockOn the 2nd of August, Fahad Bin Mohammad Bin Al-Athel sold around 472k shares on-market at roughly US$8.21 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.Reported Earnings • Aug 06Second quarter 2021 earnings released: EPS US$0.092 (vs US$0.075 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$68.8m (up 69% from 2Q 2020). Net income: US$2.26m (up US$4.11m from 2Q 2020). Profit margin: 3.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.お知らせ • Jun 28+ 5 more updatesTrecora Resources(NYSE:TREC) dropped from Russell 3000E Value IndexTrecora Resources(NYSE:TREC) dropped from Russell 3000E Value IndexRecent Insider Transactions Derivative • May 21Independent Chairman of the Board exercised options to buy US$106k worth of stock.On the 18th of May, Karen Twitchell exercised options to buy 13k shares at a strike price of around US$8.01, costing a total of US$106k. This transaction amounted to 52% of their direct individual holding at the time of the trade. Since March 2021, Karen has owned 25.68k shares directly. Company insiders have collectively bought US$267k more than they sold, via options and on-market transactions, in the last 12 months.Executive Departure • May 16Executive VP & Chief Manufacturing Officer has left the companyOn the 14th of May, John Townsend's tenure as Executive VP & Chief Manufacturing Officer ended after 3.0 years in the role. As of December 2020, John personally held 16.76k shares (US$117k worth at the time). A total of 2 executives have left over the last 12 months.分析記事 • May 08Should Shareholders Reconsider Trecora Resources' (NYSE:TREC) CEO Compensation Package?The results at Trecora Resources ( NYSE:TREC ) have been quite disappointing recently and CEO Pat Quarles bears some...Reported Earnings • May 05First quarter 2021 earnings released: US$0.18 loss per share (vs US$0.24 profit in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: US$54.6m (down 12% from 1Q 2020). Net loss: US$4.40m (down 175% from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.分析記事 • Mar 16We Think You Should Be Aware Of Some Concerning Factors In Trecora Resources' (NYSE:TREC) EarningsThe recent earnings posted by Trecora Resources ( NYSE:TREC ) were solid, but the stock didn't move as much as we...Reported Earnings • Mar 10Full year 2020 earnings released: EPS US$0.20 (vs US$0.52 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$208.6m (down 19% from FY 2019). Net income: US$4.97m (up US$17.9m from FY 2019). Profit margin: 2.4% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance.Is New 90 Day High Low • Mar 04New 90-day high: US$7.55The company is up 8.0% from its price of US$7.01 on 03 December 2020. The American market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 7.0% over the same period.お知らせ • Feb 26Trecora Resources to Report Q4, 2020 Results on Mar 08, 2021Trecora Resources announced that they will report Q4, 2020 results After-Market on Mar 08, 2021分析記事 • Feb 24Should We Be Excited About The Trends Of Returns At Trecora Resources (NYSE:TREC)?What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...Recent Insider Transactions Derivative • Feb 18President exercised options and sold US$88k worth of stockOn the 15th of February, Patrick Quarles exercised options to acquire 12k shares at no cost and sold these for an average price of US$7.18 per share. This trade did not impact their existing holding. For the year to December 2019, Patrick's total compensation was 26% salary and 74% non-salary (Indicating these sales could comprise a meaningful part of their income for the year). Since March 2020, Patrick's direct individual holding has increased from 139.09k shares to 230.66k. Company insiders have collectively sold US$283k more than they bought, via options and on-market transactions in the last 12 months.Is New 90 Day High Low • Feb 06New 90-day high: US$7.31The company is up 13% from its price of US$6.47 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 11% over the same period.Recent Insider Transactions Derivative • Feb 04Insider exercised options and sold US$95k worth of stockOn the 1st of February, John Townsend exercised options to acquire 15k shares at no cost and sold these for an average price of US$6.33 per share. This trade did not impact their existing holding. Since March 2020, John's direct individual holding has decreased from 16.86k shares to 16.76k. Company insiders have collectively sold US$152k more than they bought, via options and on-market transactions in the last 12 months.分析記事 • Feb 03Trecora Resources (NYSE:TREC) Takes On Some Risk With Its Use Of DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...分析記事 • Jan 13Reflecting on Trecora Resources' (NYSE:TREC) Share Price Returns Over The Last Three YearsFor many investors, the main point of stock picking is to generate higher returns than the overall market. But its...Is New 90 Day High Low • Jan 06New 90-day high: US$7.27The company is up 5.0% from its price of US$6.93 on 08 October 2020. The American market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 14% over the same period.分析記事 • Dec 23Do Insiders Own Lots Of Shares In Trecora Resources (NYSE:TREC)?A look at the shareholders of Trecora Resources ( NYSE:TREC ) can tell us which group is most powerful. Institutions...Recent Insider Transactions Derivative • Dec 06President exercised options and sold US$53k worth of stockOn the 3rd of December, Patrick Quarles exercised options to acquire 7.50k shares at no cost and sold these for an average price of US$7.01 per share. This trade did not impact their existing holding. For the year to December 2019, Patrick's total compensation was 26% salary and 74% non-salary (Indicating these sales could comprise a meaningful part of their income for the year). Since March 2020, Patrick's direct individual holding has increased from 139.09k shares to 213.16k. Company insiders have collectively sold US$92k more than they bought, via options and on-market transactions in the last 12 months.分析記事 • Dec 02Estimating The Intrinsic Value Of Trecora Resources (NYSE:TREC)Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Trecora Resources...Is New 90 Day High Low • Dec 01New 90-day high: US$6.96The company is up 13% from its price of US$6.16 on 02 September 2020. The American market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period.Reported Earnings • Nov 06Third quarter 2020 earnings released: EPS US$0.045The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$47.7m (down 24% from 3Q 2019). Net income: US$1.11m (down 30% from 3Q 2019). Profit margin: 2.3% (down from 2.5% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 108% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.Analyst Estimate Surprise Post Earnings • Nov 06Earnings beat expectations, revenue disappointsRevenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates by 1,660%. Over the next year, revenue is forecast to grow 3.4%, compared to a 2.8% growth forecast for the Chemicals industry in the US.お知らせ • Oct 15Trecora Resources to Report Q3, 2020 Results on Nov 03, 2020Trecora Resources announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 03, 2020Is New 90 Day High Low • Oct 07New 90-day high: US$6.65The company is up 17% from its price of US$5.67 on 08 July 2020. The American market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period.お知らせ • Oct 05Arabian American Development Company to Report Q4, 2009 Results on 03/11/2010Arabian American Development Company announced that they will report Q4, 2009 results on 03/11/2010お知らせ • Oct 02+ 1 more updateExisting shareholders of Al Masane Al Kobra Mining Co completed the acquisition of Al Masane Al Kobra Mining Co from Trecora Resources (NYSE:TREC).Existing shareholders of Al Masane Al Kobra Mining Co entered into a definitive agreement to acquire an unknown stake in Al Masane Al Kobra Mining Co from Trecora Resources (NYSE:TREC) on September 22, 2019. In a related transaction, Trecora has also agreed to sell substantially all of its stake in Al Masane to Al Masane. The aggregate gross purchase price is approximately $70 million. On March 23, 2020, the parties entered into an amendment agreement and completed the first closing by sale of 4,000,000 shares for aggregate gross proceeds of $10.7 million. The transaction will be completed in multiple closings. The purchasers have advanced 5% of the purchase price (or approximately $3.5 million) in the form of a non-refundable deposit, which deposit was a condition to the effectiveness of the agreement. For year ended December 31, 2018, Al Masane Al Kobra Mining Co recorded total shareholder’s equity of SAR 607 million ($161.8 million). On August 17, 2020, Trecora completed the sale of an additional aggregate 5,779,556 shares of Al Masane Al Kobra Mining Co for $15.4 million. After this sale Trecora further reduced its equity ownership interest in Al Masane Al Kobra Mining Co from 27.0% to 21.3%. After the transaction Trecora's ownership will be reduced from 21.3% to 0.7%. As of September 15, 2020, Trecora received proceeds of approximately $39.7 million. On September 28, 2020 Trecora Resources completed the Final Closing, which was with respect to an aggregate of 15,712,866 ordinary shares in AMAK to several Purchasers, for an aggregate purchase price of SAR 157 million (approximately US$41.8 million). The purchase price reflected SAR 149 million (approximately US$39.7 million) which was received previously, additional payments from the remaining Purchasers in the amount of SAR 4 million (approximately US$1.1 million) and 50% deposit previously paid to Trecora Resources related to the purchase of certain of the ordinary shares. As of September 28, 2020 Trecora Resource nominees to the board of directors of AMAK resigned effective upon completion of the Final Closing as required by the Purchase Agreement. The transaction is subject to certain governmental approvals, Ministry of Industry and Mineral Resources in Saudi Arabia and other customary closing conditions. The Ministry of Industry and Mineral Resources in Saudi Arabia approved the transaction recently. The transaction is expected to close in the fourth quarter of 2019. As of January 21, 2020, date for the closing of the transaction has been extended to March 31, 2020. As of March 27, 2020, the closing of the transaction has been extended to September 28, 2020. Trecora expects to receive net proceeds of approximately $60 million in cash, net of both US and Saudi taxes, as well as transaction expenses. Additionally, Trecora will explore options to use remaining proceeds to fund share repurchases, targeted growth opportunities as well as general corporate purposes. Citi acted as financial advisor and Baker & McKenzie LLP acted as the legal advisor to Trecora. Mamdouh Al Majed & Faisal Al-Enzi audited the balance sheets of Al Masane Al Kobra Mining Co. Existing shareholders of Al Masane Al Kobra Mining Co completed the acquisition of Al Masane Al Kobra Mining Co from Trecora Resources (NYSE:TREC) approximately $41.8 million September 28, 2020.お知らせ • Jul 17Trecora Resources to Report Q2, 2020 Results on Aug 04, 2020Trecora Resources announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Aug 04, 2020株主還元TRECUS ChemicalsUS 市場7D0.3%1.4%1.3%1Y16.6%8.4%27.7%株主還元を見る業界別リターン: TREC過去 1 年間で8.4 % の収益を上げたUS Chemicals業界を上回りました。リターン対市場: TREC過去 1 年間で27.7 % の収益を上げたUS市場を上回りました。価格変動Is TREC's price volatile compared to industry and market?TREC volatilityTREC Average Weekly Movement9.0%Chemicals Industry Average Movement7.5%Market Average Movement7.2%10% most volatile stocks in US Market16.6%10% least volatile stocks in US Market3.0%安定した株価: TREC 、 US市場と比較して、過去 3 か月間で大きな価格変動はありませんでした。時間の経過による変動: TRECの 週次ボラティリティ ( 9% ) は過去 1 年間安定しています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1967247Pat Quarleswww.trecora.comもっと見るTrecora Resources 基礎のまとめTrecora Resources の収益と売上を時価総額と比較するとどうか。TREC 基礎統計学時価総額US$232.63m収益（TTM）US$8.99m売上高(TTM)US$301.32m25.9xPER（株価収益率0.8xP/SレシオTREC は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計TREC 損益計算書（TTM）収益US$301.32m売上原価US$267.20m売上総利益US$34.12mその他の費用US$25.13m収益US$8.99m直近の収益報告Mar 31, 2022次回決算日該当なし一株当たり利益（EPS）0.38グロス・マージン11.32%純利益率2.98%有利子負債／自己資本比率20.5%TREC の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2022/06/26 09:44終値2022/06/24 00:00収益2022/03/31年間収益2021/12/31データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Trecora Resources これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。4 アナリスト機関Sarkis SherbetchyanB. Riley Securities, Inc.Robert LabickCJS Securities, Inc.Joseph ReagorRoth Capital Partners1 その他のアナリストを表示
お知らせ • Jun 26Trecora Resources(NYSE:TREC) dropped from Russell Microcap IndexTrecora Resources(NYSE:TREC) dropped from Russell Microcap Index
お知らせ • Jun 25Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC).Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. Balmoral commenced the Offer on May 25, 2022. Subject to the terms and conditions of the Merger Agreement and the Offer, the Offer is initially scheduled to expire at 12:00 a.m., New York City time, on June 24, 2022 (one minute after 11:59 p.m. on the 20th business day following (and including the day of) the commencement of the Offer), unless the offer is extended or earlier terminated pursuant to the applicable provisions of the merger agreement. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. As of May 25, 2022, the parties have determined that a filing under the HSR Act is not required and desire to amend the Merger Agreement. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen, James Barnes and Alan Lieblich of Blank Rome LLP acted as legal advisors to Balmoral. Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC) on June 24, 2022. The tender offer expired at 12:00 A.M., New York City time on June 24, 2022. As of the expiration of the tender offer, a total of 16,781,352 Shares were validly tendered and not withdrawn from the tender offer, representing approximately 70.73% of the aggregate voting power of the Shares. The number of Shares validly tendered and not withdrawn pursuant to the Offer satisfies the Minimum Condition. All conditions to the Offer having been satisfied or waived. As a result of its acceptance of the Shares tendered in the tender offer, Balmoral Funds LLC acquired a sufficient number of Shares to close the merger without the affirmative vote of stockholders of Trecora. In connection with the merger, the remaining outstanding shares will be converted into the right to receive $9.81 per Share in cash. As a result of the tender offer and the merger, Trecora will become a privately-held, indirect wholly-owned subsidiary of Balmoral and Trecora's common stock will cease trading on the New York Stock Exchange.
Recent Insider Transactions • Jun 02Insider recently sold US$3.9m worth of stockOn the 27th of May, Bradley Radoff sold around 404k shares on-market at roughly US$9.72 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.4m more than they sold in the last 12 months.
Board Change • Jun 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Janet Roemer was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Recent Insider Transactions Derivative • May 18Independent Chairman of the Board exercised options to buy US$125k worth of stock.On the 14th of May, Karen Twitchell exercised options to buy 13k shares at a strike price of around US$9.57, costing a total of US$125k. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since June 2021, Karen has owned 38.93k shares directly. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months.
お知らせ • May 13Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million.Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen and Alan Lieblich of Blank Rome LLP acted as legal advisor to Balmoral.
お知らせ • Jun 26Trecora Resources(NYSE:TREC) dropped from Russell Microcap IndexTrecora Resources(NYSE:TREC) dropped from Russell Microcap Index
お知らせ • Jun 25Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC).Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. Balmoral commenced the Offer on May 25, 2022. Subject to the terms and conditions of the Merger Agreement and the Offer, the Offer is initially scheduled to expire at 12:00 a.m., New York City time, on June 24, 2022 (one minute after 11:59 p.m. on the 20th business day following (and including the day of) the commencement of the Offer), unless the offer is extended or earlier terminated pursuant to the applicable provisions of the merger agreement. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. As of May 25, 2022, the parties have determined that a filing under the HSR Act is not required and desire to amend the Merger Agreement. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen, James Barnes and Alan Lieblich of Blank Rome LLP acted as legal advisors to Balmoral. Balmoral Funds LLC completed the acquisition of Trecora Resources (NYSE:TREC) on June 24, 2022. The tender offer expired at 12:00 A.M., New York City time on June 24, 2022. As of the expiration of the tender offer, a total of 16,781,352 Shares were validly tendered and not withdrawn from the tender offer, representing approximately 70.73% of the aggregate voting power of the Shares. The number of Shares validly tendered and not withdrawn pursuant to the Offer satisfies the Minimum Condition. All conditions to the Offer having been satisfied or waived. As a result of its acceptance of the Shares tendered in the tender offer, Balmoral Funds LLC acquired a sufficient number of Shares to close the merger without the affirmative vote of stockholders of Trecora. In connection with the merger, the remaining outstanding shares will be converted into the right to receive $9.81 per Share in cash. As a result of the tender offer and the merger, Trecora will become a privately-held, indirect wholly-owned subsidiary of Balmoral and Trecora's common stock will cease trading on the New York Stock Exchange.
Recent Insider Transactions • Jun 02Insider recently sold US$3.9m worth of stockOn the 27th of May, Bradley Radoff sold around 404k shares on-market at roughly US$9.72 per share. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$1.4m more than they sold in the last 12 months.
Board Change • Jun 01Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Janet Roemer was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
Recent Insider Transactions Derivative • May 18Independent Chairman of the Board exercised options to buy US$125k worth of stock.On the 14th of May, Karen Twitchell exercised options to buy 13k shares at a strike price of around US$9.57, costing a total of US$125k. This transaction amounted to 33% of their direct individual holding at the time of the trade. Since June 2021, Karen has owned 38.93k shares directly. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months.
お知らせ • May 13Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million.Balmoral Funds LLC entered into a definitive merger agreement to acquire Trecora Resources (NYSE:TREC) for approximately $240 million on May 11, 2022. Balmoral agreed to acquire Trecora for $9.81 per share in cash in a transaction that values Trecora at an enterprise value of $247 million, which represents approximately 11.4x Trecora 2021 adjusted EBITDA. Balmoral will commence a tender offer to acquire all outstanding shares of Trecora's common stock. Following the successful completion of the tender offer, Balmoral will acquire all remaining shares not tendered in the tender offer through a second-step merger at the same price. Balmoral Funds LLC has obtained equity committments of $123 million and debt financing commitments of $130 million senior secured term loan facility and $35.75 million revolving credit facility for the transactions contemplated by the Merger Agreement, the aggregate proceeds of which will be sufficient for Balmoral to pay the aggregate Offer Price and Merger Consideration. Upon termination of the Merger Agreement under specified circumstances, Trecora will be required to pay Balmoral a termination fee of $9.4 million. The Merger Agreement also provides that Balmoral will be required to pay Trecora a reverse termination fee of $10.7 million upon termination of the Merger Agreement under specified circumstances. Upon completion of the transaction, Trecora will become a privately held company and shares of Trecora Common Stock will no longer be listed on any market. The closing of the transaction is subject to customary closing conditions, including the expiration or termination of certain regulatory periods and the tender of shares representing at least a majority of Trecora's outstanding common stock to Balmoral. The transaction was unanimously approved by the Trecora Board of Directors and have determined that the transaction is fair to and in the best interests of Trecora and its stockholders, and recommended that the stockholders of Trecora accept the Offer and tender their Shares in the Offer. The board of directors of Balmoral has approved the transaction. The transaction is expected to close in the third quarter of 2022. Guggenheim Securities acted as exclusive financial advisor and fairness opinion provider, and Benjamin Wills of Morgan, Lewis & Bockius LLP and Vinson & Elkins L.L.P. acted as the legal advisors to Trecora. Piper Sandler & Co. acted as financial advisor and Kipp B Cohen and Alan Lieblich of Blank Rome LLP acted as legal advisor to Balmoral.
Reported Earnings • May 06First quarter 2022 earnings: EPS and revenues miss analyst expectationsFirst quarter 2022 results: US$15.93 loss per share. Revenue: US$83.2m (up 52% from 1Q 2021). Net loss: US$376.0k (loss narrowed 92% from 1Q 2021). Revenue missed analyst estimates by 11%. Earnings per share (EPS) were also behind analyst expectations.
Board Change • May 02Insufficient new directorsNo new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 2 highly experienced directors. Independent Director Janet Roemer was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model.
分析記事 • May 02Capital Allocation Trends At Trecora Resources (NYSE:TREC) Aren't IdealIf you're looking at a mature business that's past the growth phase, what are some of the underlying trends that pop...
お知らせ • Apr 26Trecora Resources to Report Q1, 2022 Results on May 04, 2022Trecora Resources announced that they will report Q1, 2022 results After-Market on May 04, 2022
Recent Insider Transactions Derivative • Mar 24President exercised options and sold US$51k worth of stockOn the 18th of March, Patrick Quarles exercised options to acquire 6k shares at no cost and sold these for an average price of US$8.67 per share. This trade did not impact their existing holding. For the year to December 2018, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick's direct individual holding has increased from 253.31k shares to 307.41k. Company insiders have collectively bought US$6.3m more than they sold, via options and on-market transactions, in the last 12 months.
Reported Earnings • Mar 10Full year 2021 earnings: EPS and revenues miss analyst expectationsFull year 2021 results: EPS: US$0.20 (up from US$0.20 in FY 2020). Revenue: US$272.7m (up 31% from FY 2020). Net income: US$4.96m (flat on FY 2020). Profit margin: 1.8% (down from 2.4% in FY 2020). Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 20%. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings.
Recent Insider Transactions Derivative • Mar 03President exercised options and sold US$67k worth of stockOn the 25th of February, Patrick Quarles exercised options to acquire 8k shares at no cost and sold these for an average price of US$8.90 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick's direct individual holding has increased from 253.31k shares to 293.47k. Company insiders have collectively bought US$6.4m more than they sold, via options and on-market transactions, in the last 12 months.
お知らせ • Feb 18Trecora Resources to Report Q4, 2021 Results on Mar 08, 2022Trecora Resources announced that they will report Q4, 2021 results After-Market on Mar 08, 2022
Recent Insider Transactions Derivative • Feb 17President exercised options and sold US$107k worth of stockOn the 15th of February, Patrick Quarles exercised options to acquire 12k shares at no cost and sold these for an average price of US$8.77 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick's direct individual holding has increased from 253.31k shares to 270.81k. Company insiders have collectively bought US$6.5m more than they sold, via options and on-market transactions, in the last 12 months.
Recent Insider Transactions Derivative • Dec 08President exercised options and sold US$63k worth of stockOn the 3rd of December, Patrick Quarles exercised options to acquire 8k shares at no cost and sold these for an average price of US$8.41 per share. This trade did not impact their existing holding. For the year to December 2020, Patrick's total compensation was 33% salary and 67% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2021, Patrick has owned 253.31k shares directly. Company insiders have collectively bought US$6.4m more than they sold, via options and on-market transactions, in the last 12 months.
Recent Insider Transactions • Nov 20Insider recently bought US$709k worth of stockOn the 16th of November, Bradley Radoff bought around 87k shares on-market at roughly US$8.15 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$4.2m. Insiders have collectively bought US$6.2m more in shares than they have sold in the last 12 months.
分析記事 • Nov 11Trecora Resources (NYSE:TREC) Could Be At Risk Of Shrinking As A CompanyWhen we're researching a company, it's sometimes hard to find the warning signs, but there are some financial metrics...
Reported Earnings • Nov 06Third quarter 2021 earnings released: EPS US$0.077 (vs US$0.045 in 3Q 2020)The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$74.6m (up 56% from 3Q 2020). Net income: US$1.88m (up 70% from 3Q 2020). Profit margin: 2.5% (up from 2.3% in 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings.
Recent Insider Transactions • Sep 25Insider recently bought US$1.1m worth of stockOn the 22nd of September, Bradley Radoff bought around 140k shares on-market at roughly US$8.18 per share. In the last 3 months, there was an even bigger purchase from another insider worth US$4.2m. Insiders have collectively bought US$5.2m more in shares than they have sold in the last 12 months.
分析記事 • Sep 13Is Trecora Resources (NYSE:TREC) Using Too Much Debt?Howard Marks put it nicely when he said that, rather than worrying about share price volatility, 'The possibility of...
Recent Insider Transactions • Sep 11Insider recently bought US$4.2m worth of stockOn the 8th of September, Michael Torok bought around 516k shares on-market at roughly US$8.13 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$3.1m more in shares than they have sold in the last 12 months.
Recent Insider Transactions • Aug 11Insider recently sold US$3.9m worth of stockOn the 2nd of August, Fahad Bin Mohammad Bin Al-Athel sold around 472k shares on-market at roughly US$8.21 per share. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months.
Reported Earnings • Aug 06Second quarter 2021 earnings released: EPS US$0.092 (vs US$0.075 loss in 2Q 2020)The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: US$68.8m (up 69% from 2Q 2020). Net income: US$2.26m (up US$4.11m from 2Q 2020). Profit margin: 3.3% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance.
お知らせ • Jun 28+ 5 more updatesTrecora Resources(NYSE:TREC) dropped from Russell 3000E Value IndexTrecora Resources(NYSE:TREC) dropped from Russell 3000E Value Index
Recent Insider Transactions Derivative • May 21Independent Chairman of the Board exercised options to buy US$106k worth of stock.On the 18th of May, Karen Twitchell exercised options to buy 13k shares at a strike price of around US$8.01, costing a total of US$106k. This transaction amounted to 52% of their direct individual holding at the time of the trade. Since March 2021, Karen has owned 25.68k shares directly. Company insiders have collectively bought US$267k more than they sold, via options and on-market transactions, in the last 12 months.
Executive Departure • May 16Executive VP & Chief Manufacturing Officer has left the companyOn the 14th of May, John Townsend's tenure as Executive VP & Chief Manufacturing Officer ended after 3.0 years in the role. As of December 2020, John personally held 16.76k shares (US$117k worth at the time). A total of 2 executives have left over the last 12 months.
分析記事 • May 08Should Shareholders Reconsider Trecora Resources' (NYSE:TREC) CEO Compensation Package?The results at Trecora Resources ( NYSE:TREC ) have been quite disappointing recently and CEO Pat Quarles bears some...
Reported Earnings • May 05First quarter 2021 earnings released: US$0.18 loss per share (vs US$0.24 profit in 1Q 2020)The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: US$54.6m (down 12% from 1Q 2020). Net loss: US$4.40m (down 175% from profit in 1Q 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 80 percentage points per year, which is a significant difference in performance.
分析記事 • Mar 16We Think You Should Be Aware Of Some Concerning Factors In Trecora Resources' (NYSE:TREC) EarningsThe recent earnings posted by Trecora Resources ( NYSE:TREC ) were solid, but the stock didn't move as much as we...
Reported Earnings • Mar 10Full year 2020 earnings released: EPS US$0.20 (vs US$0.52 loss in FY 2019)The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: US$208.6m (down 19% from FY 2019). Net income: US$4.97m (up US$17.9m from FY 2019). Profit margin: 2.4% (up from net loss in FY 2019). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 85 percentage points per year, which is a significant difference in performance.
Is New 90 Day High Low • Mar 04New 90-day high: US$7.55The company is up 8.0% from its price of US$7.01 on 03 December 2020. The American market is up 6.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 7.0% over the same period.
お知らせ • Feb 26Trecora Resources to Report Q4, 2020 Results on Mar 08, 2021Trecora Resources announced that they will report Q4, 2020 results After-Market on Mar 08, 2021
分析記事 • Feb 24Should We Be Excited About The Trends Of Returns At Trecora Resources (NYSE:TREC)?What are the early trends we should look for to identify a stock that could multiply in value over the long term? In a...
Recent Insider Transactions Derivative • Feb 18President exercised options and sold US$88k worth of stockOn the 15th of February, Patrick Quarles exercised options to acquire 12k shares at no cost and sold these for an average price of US$7.18 per share. This trade did not impact their existing holding. For the year to December 2019, Patrick's total compensation was 26% salary and 74% non-salary (Indicating these sales could comprise a meaningful part of their income for the year). Since March 2020, Patrick's direct individual holding has increased from 139.09k shares to 230.66k. Company insiders have collectively sold US$283k more than they bought, via options and on-market transactions in the last 12 months.
Is New 90 Day High Low • Feb 06New 90-day high: US$7.31The company is up 13% from its price of US$6.47 on 06 November 2020. The American market is up 15% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Chemicals industry, which is up 11% over the same period.
Recent Insider Transactions Derivative • Feb 04Insider exercised options and sold US$95k worth of stockOn the 1st of February, John Townsend exercised options to acquire 15k shares at no cost and sold these for an average price of US$6.33 per share. This trade did not impact their existing holding. Since March 2020, John's direct individual holding has decreased from 16.86k shares to 16.76k. Company insiders have collectively sold US$152k more than they bought, via options and on-market transactions in the last 12 months.
分析記事 • Feb 03Trecora Resources (NYSE:TREC) Takes On Some Risk With Its Use Of DebtSome say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...
分析記事 • Jan 13Reflecting on Trecora Resources' (NYSE:TREC) Share Price Returns Over The Last Three YearsFor many investors, the main point of stock picking is to generate higher returns than the overall market. But its...
Is New 90 Day High Low • Jan 06New 90-day high: US$7.27The company is up 5.0% from its price of US$6.93 on 08 October 2020. The American market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Chemicals industry, which is up 14% over the same period.
分析記事 • Dec 23Do Insiders Own Lots Of Shares In Trecora Resources (NYSE:TREC)?A look at the shareholders of Trecora Resources ( NYSE:TREC ) can tell us which group is most powerful. Institutions...
Recent Insider Transactions Derivative • Dec 06President exercised options and sold US$53k worth of stockOn the 3rd of December, Patrick Quarles exercised options to acquire 7.50k shares at no cost and sold these for an average price of US$7.01 per share. This trade did not impact their existing holding. For the year to December 2019, Patrick's total compensation was 26% salary and 74% non-salary (Indicating these sales could comprise a meaningful part of their income for the year). Since March 2020, Patrick's direct individual holding has increased from 139.09k shares to 213.16k. Company insiders have collectively sold US$92k more than they bought, via options and on-market transactions in the last 12 months.
分析記事 • Dec 02Estimating The Intrinsic Value Of Trecora Resources (NYSE:TREC)Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Trecora Resources...
Is New 90 Day High Low • Dec 01New 90-day high: US$6.96The company is up 13% from its price of US$6.16 on 02 September 2020. The American market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 9.0% over the same period.
Reported Earnings • Nov 06Third quarter 2020 earnings released: EPS US$0.045The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: US$47.7m (down 24% from 3Q 2019). Net income: US$1.11m (down 30% from 3Q 2019). Profit margin: 2.3% (down from 2.5% in 3Q 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 108% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings.
Analyst Estimate Surprise Post Earnings • Nov 06Earnings beat expectations, revenue disappointsRevenue missed analyst estimates by 11%. Earnings per share (EPS) exceeded analyst estimates by 1,660%. Over the next year, revenue is forecast to grow 3.4%, compared to a 2.8% growth forecast for the Chemicals industry in the US.
お知らせ • Oct 15Trecora Resources to Report Q3, 2020 Results on Nov 03, 2020Trecora Resources announced that they will report Q3, 2020 results at 5:00 PM, Eastern Standard Time on Nov 03, 2020
Is New 90 Day High Low • Oct 07New 90-day high: US$6.65The company is up 17% from its price of US$5.67 on 08 July 2020. The American market is up 8.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Chemicals industry, which is up 11% over the same period.
お知らせ • Oct 05Arabian American Development Company to Report Q4, 2009 Results on 03/11/2010Arabian American Development Company announced that they will report Q4, 2009 results on 03/11/2010
お知らせ • Oct 02+ 1 more updateExisting shareholders of Al Masane Al Kobra Mining Co completed the acquisition of Al Masane Al Kobra Mining Co from Trecora Resources (NYSE:TREC).Existing shareholders of Al Masane Al Kobra Mining Co entered into a definitive agreement to acquire an unknown stake in Al Masane Al Kobra Mining Co from Trecora Resources (NYSE:TREC) on September 22, 2019. In a related transaction, Trecora has also agreed to sell substantially all of its stake in Al Masane to Al Masane. The aggregate gross purchase price is approximately $70 million. On March 23, 2020, the parties entered into an amendment agreement and completed the first closing by sale of 4,000,000 shares for aggregate gross proceeds of $10.7 million. The transaction will be completed in multiple closings. The purchasers have advanced 5% of the purchase price (or approximately $3.5 million) in the form of a non-refundable deposit, which deposit was a condition to the effectiveness of the agreement. For year ended December 31, 2018, Al Masane Al Kobra Mining Co recorded total shareholder’s equity of SAR 607 million ($161.8 million). On August 17, 2020, Trecora completed the sale of an additional aggregate 5,779,556 shares of Al Masane Al Kobra Mining Co for $15.4 million. After this sale Trecora further reduced its equity ownership interest in Al Masane Al Kobra Mining Co from 27.0% to 21.3%. After the transaction Trecora's ownership will be reduced from 21.3% to 0.7%. As of September 15, 2020, Trecora received proceeds of approximately $39.7 million. On September 28, 2020 Trecora Resources completed the Final Closing, which was with respect to an aggregate of 15,712,866 ordinary shares in AMAK to several Purchasers, for an aggregate purchase price of SAR 157 million (approximately US$41.8 million). The purchase price reflected SAR 149 million (approximately US$39.7 million) which was received previously, additional payments from the remaining Purchasers in the amount of SAR 4 million (approximately US$1.1 million) and 50% deposit previously paid to Trecora Resources related to the purchase of certain of the ordinary shares. As of September 28, 2020 Trecora Resource nominees to the board of directors of AMAK resigned effective upon completion of the Final Closing as required by the Purchase Agreement. The transaction is subject to certain governmental approvals, Ministry of Industry and Mineral Resources in Saudi Arabia and other customary closing conditions. The Ministry of Industry and Mineral Resources in Saudi Arabia approved the transaction recently. The transaction is expected to close in the fourth quarter of 2019. As of January 21, 2020, date for the closing of the transaction has been extended to March 31, 2020. As of March 27, 2020, the closing of the transaction has been extended to September 28, 2020. Trecora expects to receive net proceeds of approximately $60 million in cash, net of both US and Saudi taxes, as well as transaction expenses. Additionally, Trecora will explore options to use remaining proceeds to fund share repurchases, targeted growth opportunities as well as general corporate purposes. Citi acted as financial advisor and Baker & McKenzie LLP acted as the legal advisor to Trecora. Mamdouh Al Majed & Faisal Al-Enzi audited the balance sheets of Al Masane Al Kobra Mining Co. Existing shareholders of Al Masane Al Kobra Mining Co completed the acquisition of Al Masane Al Kobra Mining Co from Trecora Resources (NYSE:TREC) approximately $41.8 million September 28, 2020.
お知らせ • Jul 17Trecora Resources to Report Q2, 2020 Results on Aug 04, 2020Trecora Resources announced that they will report Q2, 2020 results at 5:00 PM, Eastern Standard Time on Aug 04, 2020
