Macfarlane Group Advances Share Buyback Program with Recent Share Cancellation

Macfarlane ( (GB:MACF) ) has provided an announcement.

Macfarlane Group PLC has announced the purchase and cancellation of 11,700 ordinary shares as part of its ongoing share buyback program. This transaction, executed through Shore Capital Stockbrokers Limited, results in the company’s issued share capital consisting of 159,376,950 ordinary shares, with the same number of total voting rights. This move is part of Macfarlane’s strategy to manage its capital structure and potentially enhance shareholder value.

The most recent analyst rating on (GB:MACF) stock is a Buy with a £145.00 price target. To see the full list of analyst forecasts on Macfarlane stock, see the GB:MACF Stock Forecast page.

Spark’s Take on GB:MACF Stock

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

Macfarlane’s strong financial performance, positive technical indicators, and strategic corporate actions like the share buyback program contribute significantly to its overall score. The company’s reasonable valuation and attractive dividend yield further support a favorable stock outlook.

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

More about Macfarlane

Macfarlane Group PLC, listed on the London Stock Exchange since 1973, is a prominent player in the UK packaging industry. The company operates through two main divisions: Packaging Distribution, which is the leading UK distributor of protective packaging products, and Manufacturing Operations, which designs and produces protective packaging for high-value and fragile products. Headquartered in Glasgow, Scotland, Macfarlane Group employs over 1,000 people across 43 sites in the UK, Ireland, Germany, and the Netherlands, serving more than 20,000 customers primarily in the UK and Europe.

Average Trading Volume: 355,945

Technical Sentiment Signal: Strong Buy

Current Market Cap: £189.7M

See more data about MACF stock on TipRanks’ Stock Analysis page.