I agree with timeforeviewthisone. Cal Maine has always used their excess cash for strategic acquisitions. I believe that is their stated strategy as well. I read awhile back that they have purchased about 18 egg farms over the past few years.
Yes, it is correct, that is if you simply take Price divided by the trailing 12 month earnings. However, its misleading because the earnings include a 1-time tax adjustment of over $300 million. After backing out certain 1-time items, TTM earnings is only 1.10/share, so the P/E is about 11
It is true Sammy... Max gave you the source. Why don't you check it out yourself? I also verified it on finviz. Director William Schroeder bought $103065 on 11/24 and VP Denis Murphy bought $516,120 on 11/23. Prices paid were about 10.30/share