AstroNova, Inc. Buyback
OLI recorded this information on 5/3/2017
Share Amount Authorized:
AstroNova, Inc. (NASDAQ:ALOT), a global leader in data visualization technologies, today announced that it has repurchased 826,305 shares of its common stock from the Albert W. Ondis Declaration of Trust (the "Trust") for $11.2 million, or $13.60 per share. The repurchased shares constituted approximately 12.7% of the outstanding shares of AstroNova's common stock. The transaction was executed on May 1, 2017 and was funded May 2, 2017 using existing cash on hand. Following the repurchase, the Trust owns 36,000 shares of the Company's common stock, or approximately 0.5% of the total number of outstanding shares of common stock.
AstroNova designs, develops, manufactures and distributes printers and data acquisition and analysis systems, including both hardware and software. Co. operates two segments: Product Identification, which includes printing systems sold under the brand name QuickLabel®; and Test and Measurement (T&M), which includes test and measurement systems sold under the AstroNova brand name. Product Identification provides product identification and label printer hardware, software, servicing contracts, and consumable products. T&M provides products and services that acquire data from local and networked data streams and sensors as well as wired and wireless networks.
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Buy (3.00 out of 4)
(ranked lower than approx. 58% of all stocks covered)
Based on Zacks ABR data;
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