The company also announced that its Board of Directors authorized a new share buyback program to repurchase up to 1.5 million shares of the company’s common stock. The updated plan replaces the prior share repurchase plan. Shares may be purchased in open market and negotiated transactions.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on AIT:
- AIT Earnings Report this Week: Is It a Buy, Ahead of Earnings?
- Positive Outlook for Applied Industrial Technologies: Strong Market Position and Strategic Alignment with Motion Industries
- Applied Industrial Technologies price target raised to $300 from $285 at Mizuho
- Applied Industrial Technologies price target lowered to $290 from $320 at Loop Capital
- Applied Industrial Technologies price target lowered to $275 from $315 at BofA