Israeli company to cut Delek stake to less than 10%

Israel-based Delek Group has launched the sale of 9.2 million shares of Delek US Holdings, a move that will cut its stake in the Brentwood-based oil refiner and marketer to less than 10 percent — down from more than 50 percent in March of last year. Underwriters Barclays, BofA Merrill Lynch, Wells Fargo Securities, Goldman Sachs and RBC Capital Markets have the option to unload another 1.4 million shares if investor demand is strong enough. Shares of Delek (Ticker: DK) were off about 2 percent to $31.55 in after-hours trading Tuesday.

May 14, 2014 7:13 AM

Earnings wrap: LP, Delek

Weather causes factory and logistical disarray for manufacturer; oil refiner hurt by shrinking spreads
May 8, 2014 11:34 AM

Credit Suisse lifts Delek

Shares of Delek US Holdings (Ticker: DK) are up almost 3 percent to about $33.50 after getting an upgrade from Credit Suisse. Analyst Edward Westlake now rates the stock at 'outperform' from 'neutral' and thinks it can get to $40 in the coming quarters.

May 2, 2014 1:06 PM

Chief brand officer leaves Mapco after three months

Tony Altizer recently left his position at chief brand officer at Mapco Express just a few months after joining the convenience store chain. Altizer, who joined Mapco from Shell's retail marketing group and before that was president of Jiffy Lube International, is now running fast casual chain Elevation Burger. COO Tony Miller tells CSP Daily News' Steve Holtz that Altizer's departure changes nothing in terms of Mapco's strategy.

"We are focused on growing our new-to-the-industry stores, which are 5,000 square feet with a significant emphasis on foodservice" Miller said. “There is no change in that. We are staying very consistent with our strategy."

To help, the chain hired—prior to Altizer exiting the company—Andy Scoggins, vice president of foodservice, with 18 years of experience in fast-casual dining at the Ruby Tuesday chain. He is currently on-boarding at Mapco and evaluating the current foodservice offer.

Apr 11, 2014 7:16 AM

Delek adds board member

Petroleum industry veteran began career with Texaco in 1970
Apr 7, 2014 11:51 AM

Acadia, Delek insiders join the sellers

A trio of Acadia Healthcare insiders and one of Delek US Holdings' top executives last week joined other local insiders in booking some profits from their holdings.

Making the biggest move at Acadia Healthcare was director and Executive Vice Chairman Bruce Shear, who over the course of Wednesday, Thursday and Friday sold about 38,000 shares, grossing more than $1.7 million. COO Ron Fincher, meanwhile, unloaded almost 7,800 of his shares for more than $360,000. Fincher, who helped build Psychiatric Solutions before stepping into Acadia with CEO Joey Jacobs and a handful of other executives three years ago, still owns more than 123,000 Acadia shares. And finally, director William Grieco sold 5,000 shares over two days — he still owns more than 36,000 — and pocketed more than $230,000.

The Acadia insiders' sales come at the end of a month in which the shares (Ticker: ACHC) slid about 10 percent to about $46. But the 14 analysts following the Franklin-based company foresee them climbing back into the mid-$50s in the coming quarters.

Up Interstate 65 a few miles at Delek, CFO Assi Ginzburg trimmed his holdings in the oil refining and marketing company by almost a third on Friday. Ginzburg added $955,000 to his bank account balance after selling 31,000 shares of Delek, which has rebounded a bit of late (Ticker: DK) after sliding from $34 to below $27 in the first nine weeks of 2014.

Mar 17, 2014 6:43 AM

Delek investors getting another special dividend

Mapco parent also launching buyback program
Mar 14, 2014 6:57 AM

Narrowing spreads, higher costs push Delek's Q4 into red

Refiner completes round of upgrades in Texas, Arkansas
Feb 27, 2014 1:50 PM

Mapco brings in chief brand officer

CSPnet.com's Steve Holtz has touched base with the team at Mapco Express, which was fortified before the end of 2013 through the addition of Rick Altizer as chief brand officer. Altizer joined Brentwood-based Mapco, a unit of Delek US Holdings, from Shell, where he had been GM of its North American retail marketing arm. He has been president of Jiffy Lube International and more than a decade ago was the Nashville regional manager for McDonald's.

“The new-store portfolio and the food offer are my two main strategic priorities,” Altizer, who also has 14 years of experience with McDonald’s Corp., told CSP Daily News. “We’ve been really successful with our private-label products and our rewards program, so the area where we need some strategic focus is on structurally improving the quality and consistency of the customer experience at retail on the prepared-food side.”

Feb 21, 2014 1:48 PM

Delek previews softer Q4

Higher taxes and depreciation among factors; Company also sells Arkansas assets to logistics affiliate
Feb 11, 2014 9:17 AM