Do you think the stock is going to $4 because Steel is buying shares from the company at $4? I doubt it goes there. Business fundamentals need to improve. If earnings are bad Thursday then it won't matter if Steel agrees to buy some shares at #$%$ going lower.
When Lawler took over that Dec. it sold as high as $3. prior to 1-10 split. They had a $150M in cash.
They now have $90M in cash and distributed $50M in dividend. For someone that may be able to utilize tax loss"s I am guessing a buyout will take place in the $6 to $7 range. One company alone has invested about $80M buying in the $5.50 range. This does not count how many shares bought by this companies other (friends & neighbors). I believe a takeover is imminate!