Ametek (AME) Raises Stock Buyback Plan by $400M
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AMETEK, Inc. (NYSE: AME) today announced that its Board of Directors has increased the authorized level for repurchases of its common stock by $400 million. This increased authorization will be added to the approximately $75 million that currently remains available from an existing authorization approved by the Board of Directors in November 2015.
"While strategic acquisitions remain the primary use for our strong free cash flow, this increased share repurchase authorization provides us the flexibility to continue to opportunistically repurchase our common stock," notes David A. Zapico, AMETEK's Chief Executive Officer.
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