Smith & Wesson Expands Share Buybacks

Smith & Wesson Holding (NASDAQ: SWHC  ) hopes to boost the value of its common stock by extending its share repurchase program. The company's board has authorized a fresh round of buybacks for up to $15 million worth of its common stock. This follows the closing of its previously authorized $100 million initiative.

Under the expired program, the firm bought 9 million shares at an average price of $11.09 apiece.

The new buybacks will be effected via open market or privately negotiated purchases. The shares purchased are to be held by the company as treasury stock.

Currently, Smith & Wesson has nearly 62.7 million shares outstanding. Its stock trades at $11.09 per share.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

DocumentId: 2663863, ~/Articles/ArticleHandler.aspx, 4/17/2014 8:31:34 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement