IMI plc Announces Share Repurchase to Optimize Capital Structure

IMI plc ( (GB:IMI) ) has provided an announcement.

IMI plc, a company involved in the engineering industry, announced the repurchase of 135,000 of its own ordinary shares for cancellation at an average price of 1,933.4741 pence per share. This transaction, conducted through Numis Securities Limited, reduces the total number of ordinary shares in issue to 264,567,779, with 12,648,836 shares held in treasury. The move is part of IMI’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (GB:IMI) stock is a Buy with a £2205.00 price target. To see the full list of analyst forecasts on IMI plc stock, see the GB:IMI Stock Forecast page.

Spark’s Take on GB:IMI Stock

According to Spark, TipRanks’ AI Analyst, GB:IMI is a Outperform.

IMI plc is well-positioned with solid financial performance and strategic corporate actions like share buybacks. The positive technical trend supports the stock, but valuation metrics suggest it is fairly priced. Investors should monitor technical indicators for potential overbought signals.

To see Spark’s full report on GB:IMI stock, click here.

More about IMI plc

Average Trading Volume: 745,815

Technical Sentiment Signal: Strong Buy

Current Market Cap: £5B

Find detailed analytics on IMI stock on TipRanks’ Stock Analysis page.