STOCK REPURCHASE PROGRAMS

6 Months Ended

Jun. 27, 2021

Equity [Abstract]

STOCK REPURCHASE PROGRAMS


16.			STOCK REPURCHASE PROGRAMS

In March 2020, the Board approved a new stock repurchase program for up to $50 million of its common stock, including amounts remaining under previous authorizations. Approximately $14.4 million remains in the amount of the Company's common stock that may be acquired under the current stock repurchase program as of June 27, 2021. The Company repurchased 260,000 shares of its common stock at an average price of $82.89 at an aggregate cost of $21.6 million in the second quarter and six months ended June 27, 2021. In the second quarter and six months ended June 28, 2020, the Company repurchased 456,155 shares of its common stock at an average price of $34.09 per share at an aggregate cost of $15.6 million. Previously, the Company would retire the shares upon repurchase. However, beginning in 2021, the Company has now elected to hold these shares in treasury stock. Accordingly, beginning in 2021, the Company has begun presenting stock repurchases within "Treasury Stock" on the condensed consolidated balance sheet and condensed consolidated statement of shareholders' equity. Prior periods have not been adjusted to reflect the current presentation of stock repurchases.