The UK-based company, Ferguson plc (FERG), is trading 4% higher on the market on share repurchase news after the company recorded its 6-month-low yesterday.
According to the company, it has repurchased 153,000 ordinary shares for Treasury purposes. The board of directors of the company had signed a $2 billion repurchase program. The company has lost 40% of its value in the market since the start of the year.
Currently, the stock is trading hands at $109.33, up $3.39 or 3.19% since the previous close at $105.95. The stock opened at $106.60 in the morning. In the 52-week period, the stock has ranged between $105.58 and $183.67 per share.
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