Masonite opens the door to new capital strategy

Masonite International Corp. plans to buy back up to $150 million of its own stock.

It’s a way for Masonite (NYSE: DOOR), a Tampa company that designs and manufactures interior and exterior doors, to return value to its shareholders, Fred Lynch, president and CEO, said in a press release.

Masonite’s stock buyback is at least the fifth share repurchase announced in the past several months by public companies based in Tampa Bay and one of the largest buybacks, second only to a $250 million repurchase… …read more