despite the tepid earnings numbers, this is a good use of capital IMO based on the very low valuation of the company and its assets coupled with low debt. Thinly traded, ORN is simply worth more than this --- buybacks of this order will be accretive to the company and its shareholders in time. Wait for the value to come
I believe ORN is ripe for a takeover if they cant get the stock price up. Too much business in the industry and the assets will be needed (somewhere). Either ORN gets busy with them or someone will buy it with little risk given the healthy balance sheet and the proven rack record situated on the Gulf Coast
no growth, no margins, no debt, and selling at 50% of revenue Its nearly as cheap as it was during the Great Recession -- except its even bigger. Would love to see some insider buying to juice the system, but even the asset play here is good at $6 and change. WIth all the construction activity and years of neglect to infrastructure, ORN should be in position to benefit from an abundance of projects.
In other words, there is room for everyone in this space to make some money