World-renowned investor, 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.
On that note, let’s look at three companies picked at random that have repurchased their shares thus far during the week, as of market open today.
China Sunsine Chemical Holdings Ltd (SGX: CH8)
China Sunsine is a leading speciality rubber chemicals producer, serving more than 65% of the global top 75 tire makers. It was also featured as one of the 30 best stocks to own in Singapore for 2018.
On 10, 11 and 13 September 2018, the company bought back a total of 232,300 shares at a price range of between S$1.07 and S$1.13 per share. The total cost came up to slightly below S$257,000.
China Sunsine shares closed at S$1.06 apiece yesterday. The share price translates to a trailing price-to-earnings (PE) ratio of four and a dividend yield of 2.8%.
Singapore Post Limited (SGX: S08)
Singapore Post has a history stretching back 150 years. The company currently handles e-commerce logistics, as well as provides mail and logistics solutions in Singapore and around the world.
On 12 September, the postal outfit repurchased 350,000 shares at S$1.06 per share. It spent around S$371,500 for the share buyback.
Shares in Singapore Post closed at S$1.08 each on Thursday. The company is going at 24 times its trailing earnings and has a dividend yield of 3.2%.
Singapore Exchange Limited (SGX: S68)
Singapore Exchange is the only stock market operator in Singapore which provides listing, trading, clearing, settlement, depository and data services.
On 11, 12 and 13 September, the blue-chip repurchased 417,000 shares ranging from S$7.26 to S$7.31 apiece, translating to a total cost of around S$3.04 million.
Singapore Exchange shares ended Thursday at S$7.29 apiece. The price gives a trailing PE ratio of 21 and a dividend yield of 4.1%.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Singapore Exchange Limited. Motley Fool Singapore contributor Sudhan P owns shares in Singapore Exchange Limited.