Vesuvius Advances Share Buyback Program with Recent Purchase

Vesuvius ( (GB:VSVS) ) has issued an update.

Vesuvius plc has executed a share buyback transaction, purchasing 276,695 of its ordinary shares as part of a previously announced buyback program. The shares were acquired at prices ranging from 384.5p to 398.0p per share, with the intention to cancel them, thereby reducing the total number of shares in circulation. This move is part of a broader strategy to repurchase up to £50 million worth of shares, with 9,588,311 shares already bought for £39,591,771.45. The cancellation of these shares is expected to impact the company’s share capital structure, potentially increasing shareholder value.

More about Vesuvius

Vesuvius plc operates in the engineering industry, focusing on the production of advanced materials and technologies for high-temperature industrial processes. The company is known for its solutions in the steel and foundry industries, providing products that enhance the efficiency and quality of manufacturing processes.

YTD Price Performance: -9.22%

Average Trading Volume: 578,869

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £956.6M

For detailed information about VSVS stock, go to TipRanks’ Stock Analysis page.