3 Firms That Have Repurchased Their Shares This Week

Warren Buffett is a huge advocate of businesses buying back their shares. He believes that share buybacks can reveal a thing or two about the company’s management.

He once opined:

“What you’d like to do as an investor is hook them up to a machine and run a polygraph to see whether it’s true. Short of a polygraph the best sign of a shareholder-oriented management — assuming its stock is undervalued — is repurchases. A polygraph proxy, that’s what it is.”

On that note, let’s check out three companies picked at random that have repurchased their shares thus far during the week, as of market open today.

SingHaiyi Group Ltd (SGX: 5H0)

SingHaiyi is a real estate specialist with access to real estate opportunities in Asia and the US.

On 18, 19, 20, and 21 June 2018, the property outfit bought back a total of 4,874,800 shares at a price range of between S$0.09705 and S$0.098 per share. The total cost came up to around S$477,700.

SingHaiyi shares closed at S$0.098 on Thursday. This translates to a price-to-book (PB) ratio of 0.6 and a dividend yield of 3.1%.

Yangzijiang Shipbuilding Holdings Ltd (SGX: BS6)

Yangzijiang is the largest China-based company in the Singapore stock market. It is also a leading shipbuilder in China in terms of manufacturing capability and capacity.

On 19 June, the company bought back 1,000,000 shares at S$0.92 per share. It spent around S$921,100 for the repurchase.

Shares in Yangzijiang closed at S$0.945 on Thursday. The firm was selling at six times trailing earnings and had a dividend yield of 4.8%.

Oversea-Chinese Banking Corp Limited (SGX: O39)

Oversea-Chinese Banking Corporation, or OCBC for short, is the longest established local bank and is the second largest financial services group in Southeast Asia by assets.

On 19, 20, and 21 June, OCBC repurchased 300,000 shares ranging from S$11.90 to S$11.97 apiece, translating to a total cost of around S$3.6 million.

Shares in the bank ended Thursday at S$11.87. This gives a PB ratio of 1.3 and a dividend yield of 3.1%.

Meanwhile, are you worried about the overall state of the market? Do you know the 1 thing you should never do in the stock market? The Motley Fool Singapore’s new e-book lays out a plan to handle market crashes, details the greatest advantage you have as an investor, and looks at decades worth of market data to bring you the smartest insights on investing. You can download the full e-book FREE of charge—Simply click here now to claim your copy

The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P does not own shares in any companies mentioned.