Trading Day: Local SEC filings for 11.10.22

Altria (MO)

The tobacco giant filed its third quarter 2022 earnings report. The company reported net revenues of $6.6 billion for the period, a 3.5 percent decrease compared to net revenues for the same period last year.

Board of Directors member W. Leo Kiely has submitted his resignation to the board in accordance with the company’s retirement guidelines that directors retire at 75 years of age. He will finish out his current term but won’t stand for reelection at the May 2023 annual shareholders meeting. Kiely has been on the board since 2011.

The board increased its headcount to 13 people and elected Jacinto Hernandez to the board in October. Hernandez, who has a background as a tobacco industry investment analyst, joined the board on Nov. 1.

Apple Hospitality REIT (APLE)

The hotel-focused real estate investment trust filed its third quarter earnings report for the period ended Sept. 30. The company reported net income of $59.1 million for the period, compared to third quarter 2021 net income of $31.8 million.

ARKO Corp. (ARKO)

The convenience store and gas station owner reported $25 million in third quarter net income, down from $35 million a year ago. Click here for the full report.

C&F Financial (CFFI)

The parent of C&F Bank posted its third quarter earnings, reporting net income of $6.5 million, a decrease of $1.3 million from the same period last year. Click here for the full release.

Dominion (D)

The power utility filed its 2022 third quarter earnings report. The company reported $778 million in net income for the quarter, an increase compared to its net income of $654 million in the same period last year.

James Chapman notified the company he plans to resign as executive vice president and CFO effective Nov. 23 to take a job at another company. Dominion announced Steven D. Ridge will succeed Chapman as senior vice president and CFO effective Nov. 24. See full announcement here.

Dynex Capital (DX)

The mortgage REIT filed its quarterly earnings report for the period ended Sept. 30. The company reported a net loss of $46.7 million for the period, compared to a net income of $14 million for the same period last year.

CEO Byron Boston bought 14,500 shares at about $11 per share for a total of $159,500. Boston directly owns 402,634 shares of common stock.

Hamilton Beach Brands (HBB)

The electrical products supplier filed its most recent quarterly earnings report. The company reported a net income of $5.9 million for the third quarter 2022. For the same period last year, the company reported a net income of $5.7 million.

Markel (MKL)

The insurance underwriter filed its quarterly earnings report. The company reported net income of $122.5 million for its third quarter 2022, compared to $189.7 million in net income it reported the previous year.

New Market (NEU)

The petroleum-focused holding company reported a net income of $63.2 million in its third quarter 2022 earnings report. The company reported $52 million in net income for the same period last year.

New Market’s board of directors declared in late October a $2.10 per share dividend of the company’s common stock payable Jan. 3.

Regina Anne Harm recently announced she’ll step down from her post as president of Afton Chemical Corp. on Dec. 31 to retire. She worked at Afton for more than 15 years. Effective Jan. 1, Harm will be succeeded by Brain Paliotti as president of Afton, which is a subsidiary of New Market. Paliotti is currently vice president and CFO of New Market, and he’ll in turn be replaced in that role by William Skrobacz come Jan. 1. Gail Ridgeway has been appointed principal accounting officer effective Jan. 1. Ridgeway is replacing Skrobacz, who currently holds that position.

Owens & Minor (OMI)

The health care logistics company reported $12.5 million in net income in its third quarter 2022 earnings report. The company’s net income for the same period last year was $44.1 million.

Performance Food Group (PFGC)

The Goochland-based foods distributor reported net income of $95.7 million in its earnings report for its first quarter 2023, which ended Oct. 1.

Vice President and CCO Patrick Hagerty sold 500 shares at about $52 per share for a total of $26,000. Hagerty directly owns 155,790 shares of common stock.

Tredegar (TG)
The plastic and aluminum parts manufacturer reported a net income of $1 million in its third quarter 2022 earnings report, compared to a net income of $6.2 million for the same period last year.

Universal Corp. (UVV)

The tobacco company filed its quarterly report for the three-month period that ended Sept. 30. The company reported net income of $21.9 million in its third quarter of 2022, up from $19.5 million in net income it reported for the same period last year.

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