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Last $14,300 USD
Change Today 0.00 / 0.00%
Volume 0.0
As of 4:30 PM 06/15/14 All times are local (Market data is delayed by at least 15 minutes).

cardinal ethanol llc-memb ut (CRDE) Snapshot

Open
$14,300
Previous Close
$14,300
Day High
$14,300
Day Low
$13,250
52 Week High
09/29/14 - $20,500
52 Week Low
06/15/15 - $13,250
Market Cap
208.9M
Average Volume 10 Days
0.0
EPS TTM
$4,968
Shares Outstanding
14.6K
EX-Date
--
P/E TM
2.9x
Dividend
--
Dividend Yield
--
Current Stock Chart for CARDINAL ETHANOL LLC-MEMB UT (CRDE)

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cardinal ethanol llc-memb ut (CRDE) Details

Cardinal Ethanol, LLC produces and sells fuel-grade ethanol, distillers grains, corn oil, and carbon dioxide in the continental United States. The company offers ethanol that is used as an octane enhancer in fuels; an oxygenated fuel additive for reducing ozone and carbon monoxide emissions; and a non-petroleum-based gasoline substitute. Its distillers grains are used as animal feed supplement for dairy, beef, poultry, and swine industries; corn oil is used as a feedstock to produce biodiesel, as a feed ingredient, and for other industrial uses; and carbon dioxide is used in the production of liquid carbon dioxide. The company sells its products directly, as well as through third party brokers. The company was formerly known as Indiana Ethanol, LLC and changed its name to Cardinal Ethanol, LLC in September 2005. Cardinal Ethanol, LLC was founded in 2005 and is based in Union City, Indiana.

48 Employees
Last Reported Date: 11/25/14
Founded in 2005

cardinal ethanol llc-memb ut (CRDE) Top Compensated Officers

Chief Executive Officer, President and Genera...
Total Annual Compensation: $323.0K
Chief Financial Officer and Treasurer
Total Annual Compensation: $179.8K
Commodity Manager
Total Annual Compensation: $101.2K
Plant Manager
Total Annual Compensation: $187.1K
Compensation as of Fiscal Year 2014.

cardinal ethanol llc-memb ut (CRDE) Key Developments

Cardinal Ethanol, LLC Executes Fifth Amendment of First Amended and Restated Construction Loan Agreement with First National Bank

On July 23, 2015, Cardinal Ethanol, LLC executed a fifth amendment of first amended and restated construction loan agreement with its primary lender, First National Bank of Omaha, which amends the First Amended and Restated Construction Loan Agreement dated June 10, 2013. In connection therewith, the company also executed a second amended and restated declining revolving credit note (the Declining Note) and a first amendment of amended and restated construction loan mortgage, security agreement, assignment of leases and rents and fixture financing statement. The purpose of the Amendment was to provide additional financing to fund a construction project which is expected to add storage capacity and increase the production capacity of the ethanol plant. The amendment increases the maximum availability of the Declining Note from $5,000,000 to $20,000,000 and lowers the interest rate on the Declining Note to the 3-month LIBOR plus two hundred ninety basis points. The financing is secured by a mortgage on all of the company's real property and a security interest in all other assets, both tangible and intangible. The amendment provides for quarterly interest payments on the Declining Note during the draw period and then the principal balance of the construction advances is expected to be converted to term debt amortized over seven years on or before May 31, 2016, with a final maturity date of February 28, 2021. Any availability of the Declining Note remaining after conversion of the principal balance of the construction advances will continue to be available for working capital purposes. The amendment reinstates a prior requirement to maintain a minimum fixed charge coverage ratio of no less than 1.15:1.0 measured quarterly upon completion of the project.

Cardinal Ethanol, LLC Declares Cash Distribution Payable by June 1, 2015

The board of directors of the Cardinal Ethanol, LLC declared a cash distribution of $600 per membership unit to unit holders of record at the close of business on that date for a total distribution of $8,763,600. The company expects to pay the distribution by June 1, 2015.

Cardinal Ethanol, LLC Executes Fourth Amendment of First Amended and Restated Construction Loan Agreement with First National Bank of Omaha

On April 22, 2015, Cardinal Ethanol, LLC executed a fourth amendment of first amended and restated construction loan agreement with its lender, First National Bank of Omaha. The fourth amendment had an effective date of March 31, 2015, extends the termination date of the revolving credit loan from March 31, 2015 to February 28, 2016, and reduces the interest rate on the revolving credit Loan to 1-month LIBOR plus two hundred ninety basis points.

 

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Industry Analysis

CRDE

Industry Average

Valuation CRDE Industry Range
Price/Earnings 2.9x
Price/Sales 0.7x
Price/Book 1.5x
Price/Cash Flow 3.0x
TEV/Sales 0.6x
 | 

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