Altria (MO)
The tobacco giant issued a press release applauding the announced merger of beer makers Anheuser-Busch InBev and SABMiller in a cash-and-stock transaction valued at $107 billion. The merger would create the largest beer company in the world and would give Altria, which owns about 27 percent of SABMiller stock, a 10.5 percent stake in the new company, $2.5 billion in cash and two seats on the company’s board of directors.
Director Nabil Sakkab purchased 4,532 shares of common stock at $56.43 per share for a total of $255,740.
Cordia Bancorp (BOVA)
The parent of Bank of Virginia reported its third quarter financials with net income of $130,000, compared to $82,000 in the same period of 2014. Its total assets increased to $348 million at quarter’s end, up from $300.8 million a year ago. Total loans reached $228.76 million, up from $204.31 million. Total deposits grew to $289.3 million from $252.9 million. Non-performing assets were $3.7 million as of Sept. 30, up from $2.9 million a year ago.
The company said it entered into an employment agreement with CFO Mark Severson that will pay him a base salary of $240,000, plus benefits and the chance for bonuses. The agreement was effective Nov. 9 and runs through March 31, 2017 with the option for one-year extensions thereafter.
Media General (MEG)
The company announced it would engage in negotiations with Nexstar Broadcasting Group regarding its unsolicited offer to acquire all of Media General’s outstanding stock and a cash-and-stock deal valued at $4.1 billion. The company rejected that proposal but said it would negotiate with Nexstar while still recommending its proposed acquisition of Meredith Corp. in a cash-and-stock deal valued at $2.4 billion.
Owens & Minor (OMI)
Director Craig Smith sold 15,000 shares of common stock at $37.51 per share for a profit of $562,650.
Tredegar (TG)
VP Brent King exercised stock options totaling 20,000 shares of common stock, which he purchased at $14.06 per share. He sold 2,107 shares on Nov. 11 at $14.91 per share, 12,893 shares on Nov. 13 at $14.59 per share, and 5,000 shares on Nov. 16 at $14.59 per share for an overall net profit of $11,274.
VP Mary Jane Hellyar sold 819 shares of common stock at $14.60 per share for a total of $11,957.
Universal Corp. (UVV)
Subsidiary officer Theodore Broome sold a total of 2,000 shares of common stock at prices ranging from $54.01 to $54.09 per share for a total of $108,140.
CFO David Moore sold 6,997 shares of common stock at $55.32 per share for a total of $387,074.
Director John Adams sold 749 shares of common stock at $54.65 per share for a total of $40,932.
Altria (MO)
The tobacco giant issued a press release applauding the announced merger of beer makers Anheuser-Busch InBev and SABMiller in a cash-and-stock transaction valued at $107 billion. The merger would create the largest beer company in the world and would give Altria, which owns about 27 percent of SABMiller stock, a 10.5 percent stake in the new company, $2.5 billion in cash and two seats on the company’s board of directors.
Director Nabil Sakkab purchased 4,532 shares of common stock at $56.43 per share for a total of $255,740.
Cordia Bancorp (BOVA)
The parent of Bank of Virginia reported its third quarter financials with net income of $130,000, compared to $82,000 in the same period of 2014. Its total assets increased to $348 million at quarter’s end, up from $300.8 million a year ago. Total loans reached $228.76 million, up from $204.31 million. Total deposits grew to $289.3 million from $252.9 million. Non-performing assets were $3.7 million as of Sept. 30, up from $2.9 million a year ago.
The company said it entered into an employment agreement with CFO Mark Severson that will pay him a base salary of $240,000, plus benefits and the chance for bonuses. The agreement was effective Nov. 9 and runs through March 31, 2017 with the option for one-year extensions thereafter.
Media General (MEG)
The company announced it would engage in negotiations with Nexstar Broadcasting Group regarding its unsolicited offer to acquire all of Media General’s outstanding stock and a cash-and-stock deal valued at $4.1 billion. The company rejected that proposal but said it would negotiate with Nexstar while still recommending its proposed acquisition of Meredith Corp. in a cash-and-stock deal valued at $2.4 billion.
Owens & Minor (OMI)
Director Craig Smith sold 15,000 shares of common stock at $37.51 per share for a profit of $562,650.
Tredegar (TG)
VP Brent King exercised stock options totaling 20,000 shares of common stock, which he purchased at $14.06 per share. He sold 2,107 shares on Nov. 11 at $14.91 per share, 12,893 shares on Nov. 13 at $14.59 per share, and 5,000 shares on Nov. 16 at $14.59 per share for an overall net profit of $11,274.
VP Mary Jane Hellyar sold 819 shares of common stock at $14.60 per share for a total of $11,957.
Universal Corp. (UVV)
Subsidiary officer Theodore Broome sold a total of 2,000 shares of common stock at prices ranging from $54.01 to $54.09 per share for a total of $108,140.
CFO David Moore sold 6,997 shares of common stock at $55.32 per share for a total of $387,074.
Director John Adams sold 749 shares of common stock at $54.65 per share for a total of $40,932.