Strattec Shares Rise After New $40M Share Buyback Plan

Dow Jones05-29

By Chris Wack

Strattec shares were 8% higher, at $81.22, after the company said its board of directors has authorized a new share repurchase program under which it may repurchase up to $40 million of its outstanding common stock.

The company, which provides technology for the automotive and mobility industries, said its strong cash position allows it to continue investing in its transformation and growth strategy while returning capital to shareholders through this new repurchase authorization.

Under the authorization, the company may repurchase shares from time to time through open market purchases, block trades, accelerated share repurchase transactions and privately negotiated transactions.

The company's previous share repurchase program, which was initiated in 1996, has been terminated in connection with the authorization of the new program. During the fourth fiscal quarter and prior to termination, the company bought 110,000 shares at an average price of $67.10 a share.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

May 28, 2026 12:32 ET (16:32 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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