Nolan’s Notes: Finding Your Sweet Spot
Standard of Excellence: Delivering Excellence—A Daily Goal
Knocking Down the Bone Pile: Tin Whisker Mitigation in Aerospace Applications, Part 3
Cemtrex Announces Stock Buyback
March 3, 2017 | Cemtrex Inc.Estimated reading time: 1 minute
Cemtrex Inc. has bought back and retired into treasury stock, 201,430 shares of Cemtrex common stock, at an average purchase price of $3.84 per share over the last 30-day period. The company spent $774,415 to purchase the CETX shares, which are now classified as treasury shares. This purchase reflects the company’s confidence in its business outlook and long term growth prospects.
The company's purchase was made under the share repurchase authorization that Cemtrex's board of directors approved in 2016 for the repurchase of up to one million outstanding shares over a 12 month period, depending on market conditions. Cemtrex now has roughly 800,000 shares remaining under this authorization.
Cemtrex Chairman and CEO Saagar Govil commented, "The buyback was consistent with our capital allocation strategy to grow our business and to maximize shareholder value. We believe our shares are extremely under-valued at their present price and that this purchase was a reflection of our firm belief in the long term success of Cemtrex. We feel strongly that this transaction will benefit our shareholders and we may continue to buy back shares if conditions persist."
About Cemtrex
Cemtrex Inc. (CETX) is a global, diversified industrial and manufacturing company that provides a wide array of solutions to meet today’s technology challenges and is rapidly growing through acquisitions. Cemtrex provides manufacturing services of advanced custom-engineered electronics, industrial contracting services, monitoring instruments for industrial processes and environmental compliance, and equipment for controlling particulates, hazardous pollutants, and Greenhouse gases used in carbon trading globally. For more information, visit www.cemtrex.com.
Share on:
Suggested Items
Delta Electronics Thailand Ranked Among Asia’s Top Corporates at the Alpha Southeast Asia 15th Institutional Investor Awards
07/14/2025 | Delta ElectronicsDelta Electronics (Thailand) Public Company Limited, a global leader in power management and smart green solutions, has been recognized by global investors for its excellence in investor relations and corporate governance, earning top ranking in the “Most Improved Investor Relations” at the Alpha Southeast Asia 15th Annual Institutional Investor Awards for Corporates, held on June 30, 2025, in Singapore.
Kimball Electronics' Pride Month Celebrations
07/14/2025 | Kimball ElectronicsAt Kimball Electronics, we believe in fostering a culture of inclusion, respect, and belonging. This June, our global teams came together to celebrate PRIDE Month with meaningful actions that reflect our commitment to the LGBTQ+ community.
NOTE Posts Interim Report for Q2 2025
07/14/2025 | NOTENOTE reports stable second-quarter results for 2025 with continued profitability and strong cash flow, reaffirming its growth strategy despite a challenging market environment.
Scanfil, MB Elettronica to Join Forces
07/14/2025 | ScanfilFinnish Scanfil, the largest European stock exchange listed Electronic Manufacturing Service company in terms of turnover, and Italian MB Elettronica (“MB”) from Cortona Arezzo have agreed to join forces.
PCBAA’s David Schild: Where U.S. Electronics Manufacturing Stands Today
07/14/2025 | Marcy LaRont, I-Connect007As the U.S. Congress looks toward a summer break, David Schild of PCBAA discusses the growing momentum in U.S. electronics manufacturing policy, emphasizing bipartisan support for reshoring efforts, the importance of targeted tax incentives, and the challenges posed by global competition. He highlights PCBAA’s growth, advocacy on Capitol Hill, and the need for sustained investment to revitalize the PCB industry.