BMC Stock Holdings, a leading provider of diversified lumber and building materials, today announced that its board of directors has authorized a $75 million stock repurchase program for the company's common shares outstanding.

"The authorization of a stock repurchase plan demonstrates our confidence in the continued strength and long-term growth prospects of our business and underscores our commitment to a balance capital allocation strategy," BMC president and CEO Dave Flitman said in a news release from the company. "We believe our strong balance sheet and cash flow provide us the flexibility to opportunistically return capital to our shareholders while continuing to invest in organic and inorganic growth opportunities, including product and service innovation, manufacturing automation, and acquisitions to drive shareholder value."

According to the news release, the repurchase program will expire on November 20, 2019 or may be suspended or discontinued at any time. BMC, the fourth largest company in the ProSales 100, generated $3.4 billion in sales in 2017, with 95% made directly to pros.