Alpha Pro Tech (APT) Board of Directors Declares Stock Repurchase Program
Alpha Pro Tech (NYSE:APT) declared that its Board of Directors has approved a stock repurchase program, which permits the company to repurchase $2.00 million in outstanding shares on Thursday, June 22nd, EventVestor reports. This repurchase authorization permits the company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.
Shares of Alpha Pro Tech (APT) traded up 1.79% on Friday, hitting $2.85. 1,000 shares of the company traded hands. The firm’s 50 day moving average price is $2.91 and its 200-day moving average price is $3.02. Alpha Pro Tech has a 1-year low of $2.04 and a 1-year high of $3.80. The stock has a market capitalization of $42.89 million and a price-to-earnings ratio of 14.39.
About Alpha Pro Tech
ALPHA PRO TECH, LTD. (Alpha Pro Tech) is in the business of protecting people, products and environments. The Company is engaged in developing, manufacturing and marketing a line of disposable protective apparel and infection control products for the cleanroom, industrial, pharmaceutical, medical and dental markets through its subsidiary, Alpha Pro Tech, Inc Its products are grouped into three segments: Building Supply, which consists of construction weatherization products, such as housewrap and synthetic roof underlayment, as well as other woven material; Disposable Protective Apparel, which consists of disposable protective apparel, such as shoecovers, bouffant caps, gowns, coveralls, lab coats, frocks and other miscellaneous products, and Infection Control, which consists of face masks and eye shields.
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