CalAtlantic Group, Inc. Buyback
OLI recorded this information on 2/11/2016
CalAtlantic Group, Inc.
CalAtlantic Group, Inc. (NYSE: CAA) today announced that its Board of Directors has authorized the repurchase of up to $200 million of the Company's common stock. This authorization replaces the previous October 2014 $100 million authorization. The Company's share repurchases may be made, from time to time, on the open market or otherwise. The amount of any shares purchased and the timing of the purchases will be subject to general business conditions and other factors. The share repurchase authorization will continue in effect until terminated by the Board of Directors. The Company intends to retire the repurchased shares.
CalAtlantic Group is a builder of single-family attached and detached homes, in over 40 metropolitan statistical areas spanning 17 states. Co. also provides mortgage, title and escrow services. Co. operates two principal businesses: homebuilding, which acquires and develops land and constructs and sells single-family attached and detached homes, and is divided into four reportable segments: North, Southeast, Southwest and West; and financial services, which consists of its mortgage financing, title, escrow and insurance services operations. Mortgage financing operation provides mortgage financing to Co.'s homebuyers in substantially all of the markets in which Co. operates.
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Hold (2.00 out of 4)
(ranked higher than approx. 75% of all stocks covered)
Based on Zacks ABR data;
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