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Arabian American Development (NASDAQ:ARSD) major shareholder Athel Fahad Mohammed Saleh Al sold 80,000 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $12.25, for a total transaction of $980,000.00. Following the sale, the insider now directly owns 4,381,457 shares in the company, valued at approximately $53,672,848. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Shares of Arabian American Development (NASDAQ:ARSD) traded down 1.37% on Thursday, hitting $12.25. The stock had a trading volume of 8,900 shares. Arabian American Development has a 52-week low of $7.07 and a 52-week high of $12.85. The stock has a 50-day moving average of $11.94 and a 200-day moving average of $10.16. The company has a market cap of $295.5 million and a price-to-earnings ratio of 16.78.

Arabian American Development Company is engaged in manufacturing various specialty petrochemical products.

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