RE:RE:RE:100k share block and 12.5k market buys by RJ It's them buying back.
Thinking about it from a shareholder yield perspective, we're getting about 5 million a year in buyback. Over a 47 million share base, just over 10 cents a share in yield, or about 7% shareholder yield on the current share price.
Not the 14 million returned from the power plant ala 'cash cow' dividend but it's a pretty good shareholder friendly allocation of capital when you're trading at 50% of book.
I agree with your coiled spring analogy - as the majors in the lumber sector go up, CFF inevitably follows them. It's a matter of time before CFF gets dragged higher.
I still am in awe of the lumber prices at this time of year, historically a low price time due to reduced homebuilding from being wintertime. I'm actually building a house myself in the spring and will probably buy my lumber now because god knows if there will be any by spring given all the demand in the US.
But then again I am hedged to the price of lumber via my ownership in CFF so I should be less worried that way