Investment Business Weekly
Welcome to VerticalNews!
We're a pay-per-view site for premium content. If you'd like to purchase this article, it's only $3.00.
Industrial Equipment and Component Companies
Watts Water Technologies Announces Stock Repurchase Program
August 21st, 2011
Watts Water Technologies, Inc. (NYSE: WTS) announced that its Board of Directors has authorized the repurchase of up to 1,000,000 shares of the Company's Class A Common Stock from time to time on the open market or in privately negotiated transactions.
Commenting on the stock repurchase program, David J. Coghlan, Chief Executive Officer, said, "We believe, that based on current market prices, our stock is undervalued and that it is in the best interest of our shareholders for us to acquire shares in the open market to offset dilution associated with employee stock plans. We remain committed to our long-term strategy of growing the Company through acquisitions and we are...
Click here for more articles from Industrial Equipment and Component Companies
Source: Investment Business Weekly (2011-08-21)