bought back in this morning.I had sold my 1/2 position in acq when the earnings came out in the mid 12's taking a $2 and change loss in a fairly short time frame (has started a postion in the mid 14's after it had dropped from 18 ish), as I figured it would drift lower after that news, I wasn't planning on buying back for a bit as I still think it's possible it could drop to around the mid $9 range, however seeing the insiders stepping in here for some decent sized buys gave me boost I needed to restart my position, I'll stick with the 1/2 position for a while here and see what happens.
if it gets to that mid 9 range I'll add some more, it's probably range bound for a couple of q's imho. I think even if they cut the divy 20-30% it shouldn't affect the stock too much as it'll still be a 6% ish divy and put them down to that 80% payout ratio they like to keep, the market may even like a cut at this point, I don't think it's a given that they do cut probably a 50/50 chance. regardless it's a good long term buy and hold at these prices when that kansas deal closes it should add to the bottom line a bit and the supply chain stuff etc is slowly sorting itself out, the 16% of debt that's variable should only hurt a bit for the next 2 'q and then it should be dropping a bit.
cheers and gl ferret