BXC - BlueLinx authorizes $25M share repurchase

BlueLinx (NYSE:BXC) authorizes a new share repurchase program under which the company may repurchase up to $25M shares in the open market. Dwight Gibson, President and CEO comments: “Given the strong performance of our business during the past year, coupled with a favorable multi-year outlook for residential construction and home renovation markets, we believe our capital allocation strategy should prioritize a combination of organic growth investments, the acquisition of complementary assets in key target markets and an opportunistic return of capital program. The approval by our Board of Directors of a new share repurchase authorization demonstrates confidence in our business, while providing management with another tool to optimize value creation.” Bullish commentary on the stock: 'SA PRO Editors: BlueLinx - 50% Upside'

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BlueLinx authorizes $25M share repurchase