BRENTWOOD, Tenn.—Yemin Ezra Uzi, Executive Chairman of Delek US Holdings, Inc. (NYSE:DK), recently acquired additional shares in the company. On November 18, Uzi purchased 672 shares of common stock at an average price of $18.97 per share, amounting to a total investment of approximately $12,750. Following this transaction, Uzi directly owns 195,517 shares. Additionally, Uzi holds an indirect ownership of 814,945 shares through Yemin Investments, LP, which includes 123,000 shares previously owned directly and transferred to the partnership.
In other recent news, Delek US Holdings reported a third-quarter adjusted loss of $1.45 per share, which was less than the anticipated $1.66 per share loss predicted by analysts. Despite this, revenue was reported at $3.04 billion, falling short of the expected $3.24 billion. Key developments include a decrease in the refining segment's adjusted EBITDA due to lower crack spreads, and an increase in the logistics segment's adjusted EBITDA. CEO Avigal Soreq highlighted the company's progress in operational improvements and cost reductions, with a focus on maximizing value in its logistics business. Delek also completed several strategic transactions, including the sale of its retail assets for $390 million and the transfer of its Wink to Webster pipeline interest to Delek Logistics (NYSE:DKL) Partners. The company paid out $16.4 million in dividends and announced a regular quarterly dividend of $0.255 per share. These are among the recent developments for Delek US Holdings.
InvestingPro Insights
Delek US Holdings, Inc. (NYSE:DK) has been facing some challenges, as reflected in recent InvestingPro data. The company's revenue growth has been negative, with a -18.43% decline in the last twelve months as of Q3 2024. This aligns with one of the InvestingPro Tips, which indicates that analysts anticipate a sales decline in the current year.
Despite these headwinds, Executive Chairman Yemin Ezra Uzi's recent share purchase could be seen as a vote of confidence in the company's future prospects. This insider buying comes at a time when Delek's stock is trading at 53.69% of its 52-week high, potentially suggesting that Uzi sees value at current price levels.
Interestingly, Delek offers a dividend yield of 5.65% and has raised its dividend for 3 consecutive years, according to InvestingPro Tips. This could be attractive to income-focused investors, especially considering the company's dividend growth of 8.51% over the last twelve months.
However, potential investors should be aware that Delek operates with a significant debt burden and is not currently profitable, as highlighted by additional InvestingPro Tips. These factors may contribute to the stock's current valuation, which InvestingPro data shows as trading at a low revenue multiple.
For a more comprehensive analysis, investors might consider exploring the full range of InvestingPro Tips for Delek US Holdings. InvestingPro offers 9 additional tips that could provide further insights into the company's financial health and future prospects.
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