Patrick Industries Boosts Stock Buyback Authorization

  • Patrick Industries Inc PATK said its Board of Directors had approved an increase in its current share buyback program to $100 million.
  • The approval also includes the $11.0 million remaining under the previous authorization.
  • Year-to-date through January 31, 2022, the company repurchased 166,236 shares at an average price of $69.77 per share for a total cost of $11.6 million.
  • Operating cash flow for the third quarter of 2021 was $68.7 million. It held $44.88 million in cash and equivalents as of September 26, 2021.
  • Price Action: PATK shares are trading higher by 5.17% at $67.73 on the last check Tuesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsBuybacksSmall CapBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!