In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Oci Partners Lp. (NYSE:OCIP) reported that Oci N.v. has picked up 69,497,590 of common stock as of 2017-04-17.
The acquisition brings the aggregate amount owned by Oci N.v. to a total of 69,497,590 representing a 79.9% stake in the company.
For those not familiar with the company, OCI Partners LP owns and operates an integrated methanol and ammonia production facility that is located on the Texas Gulf Coast near Beaumont. The Company has an annual methanol production capacity of approximately 912,500 metric tons and an annual ammonia production capacity of approximately 331,000 metric tons. It purchases natural gas from third parties and processes the natural gas into synthesis gas, which it then further processes in the production of methanol and ammonia. It stores and sells the processed methanol and ammonia to industrial and commercial customers for further processing or distribution. Its methanol production unit comprises Foster-Wheeler-designed twin steam methane reformers for synthesis gas production, over two Lurgi-designed parallel low-pressure, water-cooled reactors and approximately four distillation columns. The Haldor-Topsoe-designed ammonia synthesis loop at its facility processes hydrogen produced by methanol production process.
A glance at Oci Partners Lp (NYSE:OCIP)’s key stats reveals a current market capitalization of 744.39 Million based on 87.00 Million shares outstanding and a price at last close of $8.65 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-11-23, Sawiris picked up 370 at a purchase price of $5.65. This brings their total holding to 868,014 as of the date of the filing.
On the sell side, the most recent transaction saw Gregory unload 4,152 shares at a sale price of $5.35. This brings their total holding to 0.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Oci Partners Lp. (NYSE:OCIP) as things move forward to see if its progress aligns with these transactions.
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