Loading
No insider purchase over the last 90 days. The latest, by Chronister Thomas C, was filed 03 Oct 2024.
Cardinal Ethanol LLC: what insiders have been doing
This page follows insider dealings at Cardinal Ethanol LLC as filed with SEC (Form 4), a company from the Energy sector. Cardinal Ethanol LLC has had no insider filing for more than a year; the last one goes back to 3 October 2024.
Since 2008, the database holds 177 purchases and 10 sales by insiders of the company.
Source: insider filings from SEC (Form 4). Past trades are no guide to future returns.
Insider Decl.
201
Thresholds
n/a
Buy Volume
€14M
177 ops. · all time
Sell Volume
€2M
10 ops. · all time
This score ranks the purchase within its own market. A position size is suggested only on the venues of the backtested strategy universe; elsewhere, signals stay on watch. Not investment advice.
Financial data
as of FY 2023FY ended September 2023 · cache
Income statement
Revenue378.8M
Gross profit67.4M18% margin
Net income62.2M16.4% margin
Last declaration on 3 October 2024
Declarations201 total
4 shares@ US$17,400.0069.1% of flowLimited Liability Company Membership UnitsSEC:0001425072-24-000001:0
Canonical exit: 30 Dec 2024 (T+90)
5 shares@ US$17,000.002.2% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000004:1
Canonical exit: 30 Dec 2024 (T+90)
13 shares@ US$17,000.005.6% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000004:3
Canonical exit: 30 Dec 2024 (T+90)
10 shares@ US$17,000.004.3% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000004:4
Canonical exit: 30 Dec 2024 (T+90)
1 shares@ US$17,000.000.4% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000004:5
Canonical exit: 30 Dec 2024 (T+90)
1 shares@ US$17,113.000.4% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000004:6
Canonical exit: 30 Dec 2024 (T+90)
100 shares@ US$17,500.00100.0% of flowLimited Liability Company Membership UnitsSEC:0001691659-24-000001:0
Canonical exit: 30 Dec 2024 (T+90)
5 shares@ US$17,200.006.5% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000004:0
Canonical exit: 30 Dec 2024 (T+90)
3 shares0Limited Liability Company Membership UnitsSEC:0001710797-24-000003:1
11 shares0Limited Liability Company Membership UnitsSEC:0001710797-24-000003:0
7 shares@ US$20,000.003.7% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000002:1
Canonical exit: 30 Jun 2024 (T+90)
20 shares@ US$19,962.5010.5% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000002:2
Canonical exit: 30 Jun 2024 (T+90)
7 shares@ US$19,500.0010.7% of flowLimited Liabiltiy Company Membership UnitsSEC:0001471498-24-000002:0
Canonical exit: 30 Jun 2024 (T+90)
10 shares@ US$21,000.0016.3% of flowLimited Liability Company Membership UnitsSEC:0001471498-24-000001:0
Canonical exit: 1 May 2024 (T+90)
20 shares@ US$21,000.0042.1% of flowLimited Liability Company Membership UnitsSEC:0001006020-24-000001:0
Canonical exit: 1 May 2024 (T+90)
20 shares@ US$21,000.0055.3% of flowLimited Liability Company Membership UnitsSEC:0001425088-24-000001:1
10 shares@ US$21,000.00100.0% of flowLimited Liability Company Membership UnitsSEC:0001425088-24-000001:0
16 shares0Limited Liability Company Membership UnitsSEC:0001710797-24-000002:1
4 shares@ US$16,500.00100.0% of flowLimited Liability Company Membership UnitsSEC:0001710797-24-000001:0
Canonical exit: 31 Mar 2024 (T+90)
68 shares0Limited Liability Company Membership UnitsSEC:0001710797-24-000002:0
30 shares@ US$15,450.0082.4% of flowLimited Liability Company Membership UnitsSEC:0001425072-23-000002:1
Canonical exit: 2 May 2023 (T+90)
2 shares@ US$15,300.0030.9% of flowLimited Liability Company Membership UnitsSEC:0001425072-23-000002:0
Canonical exit: 2 May 2023 (T+90)
42 shares@ US$15,000.0048.6% of flowLimited Liability Company Membership UnitsSEC:0001471498-23-000001:0
Canonical exit: 2 May 2023 (T+90)
12 shares0Limited Liability Company Membership UnitsSEC:0001710797-23-000002:0
40 shares0Limited Liability Company Membership UnitsSEC:0001710797-23-000001:0
25 of 201 declarations
About Cardinal Ethanol LLC
Cardinal Ethanol LLC is a U.S.-based ethanol and agricultural co-products producer operating at the crossroads of renewable energy, agribusiness, and industrial logistics. The company is located in the United States and is followed in the U.S. equity reporting ecosystem through NYSE/NASDAQ-style market references under ticker NA, including SEC Form 4 insider transaction filings associated with ownership and governance activity. Founded in 2005 and brought into operation in 2008, Cardinal Ethanol was originally created to serve Indiana farmers and has since evolved into a multi-site platform serving regional and national markets. Its core assets are located in Union City, Indiana, and Colwich, Kansas.
Cardinal Ethanol’s business model is centered on processing corn into fuel-grade ethanol and capturing more value from the full production stream through co-products. The company produces fuel ethanol, premium DDGS for livestock feed, high-value corn oil, and food-grade CO2. This diversified product mix is strategically important: it helps the company monetize more of each bushel of corn, broaden end-market exposure, and reduce dependence on any single revenue line. The business also positions Cardinal within the broader low-carbon fuels theme, as ethanol is marketed as a renewable blend component with lower lifecycle emissions than conventional gasoline.
Read moreShow less
From a competitive standpoint, Cardinal Ethanol benefits from scale, strategic sourcing access, rail and market proximity, and a two-plant footprint that improves operational diversification. The company states that its combined capacity exceeds 200 million gallons, making it a meaningful regional player in the U.S. ethanol industry. Its competitive edge is also tied to continuous process improvement, yield optimization, and co-product innovation rather than pure volume growth alone. This is important in an industry where margins can be cyclical and highly sensitive to corn costs, ethanol pricing, and policy dynamics.
Recent strategic milestones reinforce this positioning. In 2024, Cardinal launched an APP expansion aimed at producing a 50% protein feed product, signaling a push further into higher-value co-product streams. Also in 2024, it acquired the Colwich, Kansas facility, expanding scale and improving geographic diversification. In 2023, the company formed a carbon capture and sequestration joint venture, One Carbon Partnership, with Vault 44.01, underscoring an increasing focus on decarbonization. In 2026, the U.S. EPA approved a permit for Cardinal’s carbon sequestration project in Indiana, allowing injection and storage of up to 450,000 metric tons of CO2 annually. For investors, Cardinal Ethanol is best viewed as a specialized U.S. industrial energy platform with meaningful exposure to agricultural inputs, renewable fuels, and emerging carbon-management opportunities.
