Quaker Houghton Board Approves New Share Repurchase Program Of Up To $150M Of Its Common Stock
Portfolio Pulse from Benzinga Newsdesk
The board of Quaker Houghton has approved a new share repurchase program, authorizing the repurchase of up to $150 million of its common stock. This move is part of the company's strategy to return value to its shareholders and potentially improve earnings per share by reducing the number of shares outstanding.
February 29, 2024 | 9:32 pm
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POSITIVE IMPACT
Quaker Houghton's approval of a $150 million share repurchase program is likely to have a positive impact on its stock price in the short term. The buyback could lead to a reduction in shares outstanding, potentially increasing earnings per share and making the stock more attractive to investors.
Share repurchase programs are generally viewed positively by the market as they often lead to an increase in the stock price. By reducing the number of shares outstanding, earnings per share (EPS) may increase, making the stock more attractive. Given the size of the repurchase program relative to Quaker Houghton's market cap, this move is significant and likely to be viewed favorably by investors.
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