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Benzinga
Benzinga
Business
Shivani Kumaresan

Patrick Industries Boosts Stock Buyback Authorization

Board of Directors
  • Patrick Industries Inc (NASDAQ:PATK) said its Board of Directors had approved an increase in its current share buyback program to $100 million.
  • The approval also includes the $11.0 million remaining under the previous authorization.
  • Year-to-date through January 31, 2022, the company repurchased 166,236 shares at an average price of $69.77 per share for a total cost of $11.6 million.
  • Operating cash flow for the third quarter of 2021 was $68.7 million. It held $44.88 million in cash and equivalents as of September 26, 2021.
  • Price Action: PATK shares are trading higher by 5.17% at $67.73 on the last check Tuesday.
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