Ametek increases share buybacks by $50M
Ametek Inc., of Paoli, today said it increased by $50 million an existing stock repurchase program. The total now authorized for use in buying back company shares is $76 million, the electronic instrument maker said.
Ametek Inc., of Paoli, today said it increased by $50 million an existing stock repurchase program. The total now authorized for use in buying back company shares is $76 million, the electronic instrument maker said.
The company said it has not repurchased any shares so far in 2008. In 2007 it repurchased about 144,000 shares at a cost of $5.4 million.
Ametek had 2007 sales of about $2.1 billion. Shares were up $1, to $44.39 in morning trading on the New York Stock Exchange. Yesterday, they closed up 7 percent, or $2.81, at $43.39.