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99 Companies that Continued (or Increased) Buybacks in March

AlphaSense Staff

Economies throughout the world have seen demand weaken with the spread of coronavirus throughout the globe. As Q1 earnings season continues and the reports of losses grows, so does the list of companies suspending buybacks

Amidst market upheaval, 99 large publicly traded companies have reported buybacks continuing into March, with many even quickening the pace of repurchasing nearing quarter close. Which companies are still buying their stock? Take a look at the list we’ve compiled below:

Takeaways:

  • In March, the 99 companies identified repurchased a collective $33.21B with Alphabet, Apple and Microsoft accounting for 44.7% of the total buybacks with a combined $14.85B in buybacks in March 
  • 23 companies repurchased >1% of market cap within the month of March with Masco Corp repurchasing 4.07% and Synchrony Financial repurchasing 3.6% of market cap, respectively
  • Delta, American Airlines and Southwest continued buybacks in March with American Airlines and Southwest repurchasing nearly $40M (representing .75% and 2.53% of their respective market caps) in March alone

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For this analysis we looked at 10Qs of companies with a $5B market cap or greater

AS-Blog-Coronavirus-MarchBuyback-PieChart-value

 

Repurchases from Apple and Microsoft led the Information Technology sector to dominate in terms of the total dollar value of buybacks in March, with the IT sector accounting for 46% of total value. Together, Apple and Microsoft's buybacks account for 72% of repurchase dollar value within IT. 

AS-Blog-Coronavirus-MarchBuyback-PieChart-Volume (1)

While IT represents a larger share of the total dollar value of buybacks in March, companies in the Financial and Industrial sectors are buying back more often than their counterparts in other industries, with the sectors accounting for 18% of the buyback volume, respectively.

Company

Sector

Market Cap (in billions)

March Shares Purchased

March Share Price

Amount Repurchased in March (in billions)

% of Market Cap Repurchased in March (in billions)

Masco Corp

Industrials

$10.90

9,442,874

$46.94

$0.44

4.07%

Synchrony Financial

Financials

$12.30

16,817,253

$26.36

$0.44

3.60%

T Rowe Price

Financials

$26.30

7,100,681

$103.33

$0.73

2.79%

Southwest Airlines

Industrials

$15.90

7,879,876

$51.12

$0.40

2.53%

Cummins

Industrials

$24.10

3,500,000

$156.90

$0.55

2.28%

Cerner Corp

Healthcare

$21.10

5,139,129

$68.08

$0.35

1.66%

Service Corporation International

Consumer Discretionary

$6.70

2,290,566

$40.90

$0.09

1.40%

Zebra Technologies

Information Technology

$13.00

870,115

$208.33

$0.18

1.39%

Qualcomm

Information Technology

$88.20

15,279,000

$75.38

$1.15

1.31%

eBay

Consumer Discretionary

$31.70

12,665,693

$32.28

$0.41

1.29%

Cincinnati Financial Corp

Financials

$11.30

1,490,330

$97.44

$0.15

1.29%

First American Financial

Financials

$5.20

1,702,646

$38.64

$0.07

1.27%

Carlisle Cos

Industrials

$7.00

700,000

$124.63

$0.09

1.25%

Honeywell

Industrials

$100.40

7,729,326

$158.20

$1.22

1.22%

Graco Inc

Industrials

$7.40

2,064,830

$43.58

$0.09

1.22%

Omnicom Group

Communication Services

$13.10

2,333,890

$67.50

$0.16

1.20%

Lam Research

Information Technology

$37.10

1,568,000

$281.60

$0.44

1.19%

MSCI

Financials

$28.00

1,313,482

$248.79

$0.33

1.17%

Fidelity National Inc

Financials

$7.80

3,100,000

$28.40

$0.09

1.13%

Texas Instruments

Industrials

$106.50

10,925,981

$102.74

$1.12

1.05%

Halliburton

Energy

$9.70

7,388,038

$13.56

$0.10

1.03%

Celanese Corp

Materials

$10.20

1,229,670

$85.41

$0.11

1.03%

SEI Investments

Financials

$7.80

1,652,000

$46.62

$0.08

0.99%

Sherwin Williams

Materials

$48.70

925,000

$484.19

$0.45

0.92%

Idex Corp

Industrials

$11.90

851,823

$125.20

$0.11

0.90%

Cheneire Energy

Energy

$11.50

1,968,384

$50.80

$0.10

0.87%

CSX Corp

Industrials

$50.70

7,038,164

$61.49

$0.43

0.85%

Pultegroup

Consumer Discretionary

$7.60

2,098,385

$30.50

$0.06

0.84%

Apple

Information Technology

$1,000.30

31,158,000

$265.27

$8.27

0.83%

Whirlpool

Consumer Discretionary

$7.00

477,000

$120.97

$0.06

0.82%

Discover Financial

Financials

$13.20

1,733,628

$61.90

$0.11

0.81%

American Airlines

Industrials

$5.30

2,335,805

$16.96

$0.04

0.75%

Intel Corp

Information Technology

$254.00

36,200,000

$52.11

$1.89

0.74%

SiriusXM Holdings

Communication Services

$25.90

29,243,680

$5.56

$0.16

0.63%

Principal Financial

Financials

$10.00

1,349,175

$45.19

$0.06

0.61%

Waters Corporation

Healthcare

$11.60

347,000

$192.78

$0.07

0.58%

Crown Holdings

Materials

$8.70

1,038,821

$48.24

$0.05

0.58%

Verisign

Information Technology

$24.40

772,000

$179.09

$0.14

0.57%

Syneos Health

Healthcare

$5.90

600,000

$53.38

$0.03

0.54%

Maxim Integrated Products

Information Technology

$15.50

1,599,000

$50.90

$0.08

0.53%

Fair Isaac Corp

Information Technology

$10.20

184,837

$288.46

$0.05

0.52%

Cognex Corp

Information Technology

$9.90

1,215,000

$42.01

$0.05

0.52%

Pilgrims Pride Corp

Consumer Staples

$5.50

1,465,695

$19.04

$0.03

0.51%

Northern Trust Corp

Financials

$17.10

1,112,215

$76.68

$0.09

0.50%

AMPHENOL CORPORATION

Information Technology

$27.30

1,477,278

$91.49

$0.14

0.50%

Charter Communications

Communication Services

$116.00

1,246,396

$437.05

$0.54

0.47%

Lockheed Martin

Industrials

$108.80

1,453,821

$350.37

$0.51

0.47%

Intercontinental Exchange

Financials

$49.80

2,718,000

$85.42

$0.23

0.47%

Idexx Laboratories

Healthcare

$23.70

427,182

$233.00

$0.10

0.42%

Anthem Inc

Healthcare

$70.80

1,135,798

$261.46

$0.30

0.42%

DR Horton

Consumer Discretionary

$17.80

1,778,760

$41.38

$0.07

0.41%

Alphabet

Communication Services

$917.80

3,225,000

$1,170.86

$3.78

0.41%

Pegasystems

Information Technology

$6.60

299,000

$79.88

$0.02

0.36%

Mondelez International

Consumer Staples

$73.00

5,043,655

$51.82

$0.26

0.36%

Northup Gruman

Industrials

$55.10

625,975

$313.11

$0.20

0.36%

The Hershey Co

Consumer Staples

$28.00

526,138

$155.08

$0.08

0.29%

Microsoft

Information Technology

$1,004.00

18,203,465

$153.78

$2.80

0.28%

Lennox International

Industrials

$7.10

84,507

$233.90

$0.02

0.28%

Cadence Design Systems

Information Technology

$22.90

967,095

$61.85

$0.06

0.26%

Fastenal

Industrials

$20.70

1,600,000

$32.54

$0.05

0.25%

Entegris Inc

Information Technology

$7.60

411,514

$46.37

$0.02

0.25%

Illumina

Healthcare

$46.80

424,000

$277.01

$0.12

0.25%

Franklin Resources

Financials

$9.20

1,147,744

$19.36

$0.02

0.24%

American Express

Financials

$77.40

1,835,465

$100.37

$0.18

0.24%

Starbucks

Consumer Discretionary

$89.80

3,139,273

$64.22

$0.20

0.22%

Delta Airlines

Industrials

$17.40

738,722

$46.99

$0.03

0.20%

Kimberly Clark

Consumer Staples

$47.20

714,900

$129.88

$0.09

0.20%

Johnson & Johnson

Healthcare

$395.30

5,031,134

$142.96

$0.72

0.18%

Amgen Inc

Healthcare

$140.60

1,184,327

$201.66

$0.24

0.17%

Intuitive Surgical

Healthcare

$60.60

191,639

$521.83

$0.10

0.17%

Iqvia Holdings

Healthcare

$27.20

400,000

$110.53

$0.04

0.16%

Rockwell Automation

Industrials

$22.80

228,719

$155.83

$0.04

0.16%

PepsiCo

Consumer Staples

$183.60

2,100,000

$128.00

$0.27

0.15%

The Carlyle Group

Financials

$13.50

837,491

$22.33

$0.02

0.14%

Chipotle Mexican Grill

Consumer Discretionary

$24.50

48,069

$624.00

$0.03

0.12%

Colgate-Palmolive

Consumer Staples

$60.30

1,031,036

$67.36

$0.07

0.12%

3M

Industrials

$89.90

723,676

$140.55

$0.10

0.11%

The Hartford Financial Services Group

Financials

$14.70

313,165

$47.72

$0.01

0.10%

Facebook

Communication Services

$553.60

2,100,000

$166.71

$0.35

0.06%

Eli Lilly

Healthcare

$148.00

601,000

$137.87

$0.08

0.06%

Paycom Software

Information Technology

$15.00

39,555

$203.14

$0.01

0.05%

Prologis, Inc

Real Estate

$65.90

539,000

$64.66

$0.03

0.05%

Markel Corp

Financials

$12.50

5,212

$1,139.90

$0.01

0.05%

American Tower Group

Real Estate

$105.00

213,352

$211.45

$0.05

0.04%

Brown & Brown

Financials

$10.40

70,548

$34.86

$0.00

0.02%

Masimo Corp

Healthcare

$11.50

11,652

$154.09

$0.00

0.02%

Centene

Healthcare

$38.60

12,000

$53.05

$0.00

0.00%

Dow Chemical

Materials

Not listed

2,028,919

$36.97

$0.08

NA

 

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