The distributor says it entered an accelerated share repurchase agreement with Citibank N.A to repurchase $125 million of Beacon’s common stock.
The company recently elected David Meyer to its board of directors, a move that will take effect April 1.
Manufacturing technology orders for the month totaled $436.6 million, according to the latest U.S. Manufacturing Technology Orders Report.
The roofing material and building products distributor says it opened an OTC hub in Pico Rivera, California, and a branch in Little Chute, Wisconsin.
The electrical, communications and data networking distributor reported 2021 net sales of $8.8 billion, a 20.7% increase compared to 2020.
The year-over-year increase reflected the 12 months ending in February and was the biggest spike in 40 years, the Labor Department says.
The automation company announced it was suspending operations and sales in Russia and Belarus, effective immediately.
City Electric Supply Company has opened its 17th store in Houston and 41st overall in the state.
Exports were $224.4 billion, $3.9 billion less than December exports. Imports were $314.1 billion, $3.8 billion more than December imports.
The Fastener Distributor Index recovered in February to 56.0, rebounding after January’s seasonal-adjustment-driven downtick.
The company reported nearly $531 million in net sales last month, compared to $437.7 million in February 2021.
The electrical and industrial distributor topped its market in 11 countries and registered roughly a million order lines per day.
