REX American Resources (REX)

[value1008]

Interesting to find out more about the share-repurchases in Q4; we got a taste on last earnings report that they had been buying in Q3 and in the first month of Q4:

"REX repurchased 121,200 common shares in Q3 ‘14 at an average price of $68.58 [i.e., for $8,311,896]. In Q4 ‘14 to date [Dec. 4], the Company repurchased an additional 57,610 common shares at an average price of $68.19 [for $3,928,426]."

And from today's PR:

"REX repurchased 161,224 common shares in Q4 ‘14 at an average price per share of $60.94 [...] Reflecting all share repurchases to date, REX has 7,899,607 shares outstanding."

So they repurchased nearly 104k shares in the last two months of Q4, i.e., up til Jan. 31, 2015. And from the "avg price" reported, it would seem they waited and bought almost all of those in the low $50s. Good decision to "buy low."

Actually, i'm surprised they didn't buy much more at those low prices. I would have thought they would buy 300k or 400k shares, but maybe they thought oil might possibly crash to low $30s or somewhere dire and they could buy more of their own shares likely down in the $40s with further selloff of the sector......

Maybe Stuart commented on this in the conf call.....