The company believes it is undervalued.
Yes. At the February investors meeting, Paul Alonzo said several times that the stock was undervalued.
IMO. Since then, the company has remained aggressive and successful in its acquisitions.
IMO. The recent Army Corp of Engineers approval of Murphy Sand & Gravel product for use in the New Orleans area Katrina reconstruction is a huge achievement and will lead to large contract sales.
IMO, this continuing buyback is proof that the stock is, in fact, undervalued.
Hank
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