Smith & Wesson Expands Share Buybacks

By Eric Volkman – Oct 1, 2013 at 3:53PM

NASDAQ: SWBI

Smith & Wesson Brands

Market Cap

$777M

Today's Change

(-0.32%) -$0.06

Current Price

$17.07

Price as of April 24, 2024, 4:00 p.m. ET

The company tacks an additional $15 million onto its completed $100 million program.

Smith & Wesson Holding (SWBI -0.32%) 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.

Fool contributor Eric Volkman has no position in Smith & Wesson Holding. Nor does The Motley Fool. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.