May's Biggest Stock Buyback Authorizations From The Materials Sector

Discover the biggest stock buyback authorizations from the Materials Sector last month, May



Industry: Specialty Chemicals
Subindustry: Renewable Energy

Gevo, Inc. recently announced that its Board of Directors has authorized a stock repurchase program, allowing for the repurchase of up to $25 million of its common stock. The decision to authorize the stock buyback stems from Gevo's belief that their common stock is currently undervalued. Dr. Patrick R. Gruber, Gevo's CEO, expressed confidence in Gevo's future and the potential for sustained profitability and growth. The stock repurchases will be made at prevailing market prices or through privately negotiated transactions, in compliance with securities laws. The timing and volume of repurchases will be determined at Gevo's discretion, based on market conditions and other factors. Gevo has enlisted H.C. Wainwright & Co. to execute the stock repurchase program.


Industry: Chemicals

LSB Industries, Inc. (LSB) recently announced its authorization of a stock repurchase program, allowing for the repurchase of up to $150 million of its common stock. LSB's President and CEO, Mark Behrman, highlighted LSB's belief that its stock is currently undervalued, presenting an attractive investment opportunity. Despite a decline in nitrogen selling prices, LSB remains confident in its outlook for continued profitability and cash flow. The repurchase program offers flexibility, allowing for repurchases in the open market or through private transactions, adhering to applicable securities laws. The timing and amount of repurchases will be determined based on various factors, including stock availability, market conditions, trading price, capital utilization, and financial performance. LSB retains the right to suspend, terminate, or modify the program based on market conditions, cost considerations, alternative investment opportunities, liquidity, and other relevant factors.


Industry: Specialty Chemicals
Subindustry: Chemicals

Orion Engineered Carbons (OEC), a global specialty chemicals company, has announced the approval of a new share repurchase program by its Board of Directors. The program grants management the authorization to repurchase approximately 6.9 million of Orion's outstanding common stock. In addition to the soon-to-be-completed previous share repurchase authorization, this allows the company to potentially buy back up to 15 percent of its outstanding shares. The decision to authorize the stock buyback stems from Orion's focus on leveraging its cash flow to support growth and productivity initiatives, maintain a target debt range, and provide compelling shareholder returns. Orion's CEO, Corning Painter, expressed confidence in the cash generative business model's ability to accelerate long-term earnings power. The repurchases can occur through open market purchases or public tender offers, with the timing and total amount subject to various factors such as market conditions, corporate requirements, and prevailing stock prices. The Board of Directors holds the authority to suspend or discontinue the authorization at any time, and Orion is not obligated to acquire a specific amount of common stock.

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