Strattec Board Authorizes New $40 Mln Share Buyback

Strattec Security authorized a new share repurchase program of up to $40 million and terminated a buyback plan that had been in place since 1996. The move is a capital return positive and suggests confidence in the company's cash generation and balance sheet. The announcement is material for shareholders but unlikely to drive a broad market reaction.

Analysis

Strattec Security authorized a new share repurchase program of up to $40 million and terminated a buyback plan that had been in place since 1996. The move is a capital return positive and suggests confidence in the company's cash generation and balance sheet. The announcement is material for shareholders but unlikely to drive a broad market reaction.