Wow!--they didn't waste any time this quarter in repurchasing shares, with authorization to buy back another 500k... This will certainly help EPS in subsequent quarters.
Despite the great news, I'm still not going to be in this stock until i'm more sure about oilprices. The recent Saudi news of producing to the max and GS and Citibank's warnings about oil glut have me thinking oilprices could go south again.... Jmo...
REX American Resources Authorizes Repurchase of Additional 500,000 Shares
Today : Wednesday 24 June 2015
- Repurchased 466,444 Common Shares in Fiscal Second Quarter to Date -
REX American Resources Corporation (NYSE:REX) announced today that its Board of Directors approved a 500,000 share increase in the number of shares in its common stock repurchase plan. When combined with the 31,138 shares remaining from a previous authorization, the Company now has the authority to repurchase up to 531,138 shares of its common stock. During the Company’s fiscal second quarter to date (ends July 31, 2015), REX has purchased 466,444 shares (at an average price of $62.53 per share). Reflecting all purchases to date, REX presently has 7,436,331 shares of common stock outstanding.
Share repurchases will be made from time to time in open market or private transactions at prevailing market prices, and all shares purchased will be held in the Company’s treasury for possible future use.
About REX American Resources Corporation
REX American Resources has interests in six ethanol production facilities, which in aggregate shipped approximately 632 million gallons of ethanol over the twelve month period ended April 30, 2015. REX’s effective ownership of the trailing twelve month gallons shipped (for the twelve months ended April 30, 2015) by the ethanol production facilities in which it has ownership interests was approximately 231 million gallons. Further information about REX is available at www.rexamerican.com.
