Brady's Board Of Directors Authorized An Additional $100M Of Shares For Repurchase, Which Based On Current Share Prices Equates To Approximately 1.5M Shares And Approximately 3% Of Outstanding Shares
Portfolio Pulse from Nabaparna Bhattacharya
Brady Corporation's Board of Directors has approved an additional $100 million for share repurchase, equating to about 1.5 million shares or 3% of outstanding shares at current prices.
September 06, 2024 | 11:14 am
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Brady Corporation has authorized an additional $100 million for share repurchase, which could positively impact the stock price by reducing the number of shares outstanding and potentially increasing earnings per share.
The authorization of $100 million for share repurchase by Brady Corporation is significant as it represents about 3% of the outstanding shares. This action can lead to a reduction in the number of shares available in the market, potentially increasing the earnings per share and making the stock more attractive to investors. Such actions are generally viewed positively by the market, leading to a potential short-term increase in the stock price.
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