The Manitowoc Company Announces $35M Share Repurchase Program
Portfolio Pulse from Benzinga Newsdesk
The Manitowoc Company's Board of Directors has authorized a new share repurchase program of up to $35 million of the company's common stock. The program, which has no stated expiration, replaces the previous one. The company may repurchase shares in the open market based on its evaluation of market conditions and other factors.
November 01, 2023 | 9:33 pm
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The new share repurchase program announced by Manitowoc could potentially increase the company's stock price in the short term as it indicates the company's confidence in its own stock.
Share repurchase programs are often seen as a sign of a company's confidence in its own stock. By buying back shares, the company is effectively investing in itself, which can be a positive signal to investors and potentially lead to an increase in the stock price. However, the actual impact will depend on various factors including market conditions and investor sentiment.
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