Rexnord Corporation Buyback
OLI recorded this information on 2/9/2015
Rexnord Corporation (NYSE:RXN) today announced that its Board of Directors has authorized the Company to repurchase up to $200 million of the Company's common stock. The repurchases may be made in open market purchases, privately-negotiated transactions or in such other manner deemed appropriate by management. The repurchase program does not require the Company to acquire any particular amount of common stock and does not specify the timing of purchases or the prices to be paid. The Company expects the repurchase program to be funded from its operating cash flow.
Rexnord is engaged as an industrial company. Co. operates its business in two platforms: Process and Motion Control, and Water Management. Co.'s Process and Motion Control platform designs, manufactures, markets and services a range of mechanical components. Co.'s products and services are marketed and sold under brand names, including Rexnord®, Rex®, Addax®, Euroflex®, Falk®, FlatTop®, Cambridge®, Link-Belt®, Omega®, PSI®, Shafer®, Stearns®, Highfield®, Thomas®, Centa®, and Tollok. Co.'s Water Management platform designs, procures, manufactures, and markets products that provide and improve water quality, safety, flow control and conservation.
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Strong Buy (3.50 out of 4)