United Stationers Inc. recently announced that its board of directors approved and authorized the company to purchase an additional $100 million of its common stock.

United Stationers Inc. is North America’s largest broad line wholesale distributor of business products, with net sales for 2007 of $4.6 billion.

The stock trades for 6x cash flow.

16.5

16.5

United Stationers recently announced a $200 million dollar buyback.

United Stationers Inc., a distributor of office and other business products, said in early August its second-quarter earnings fell from a year ago, which included one-time gains, but sales rose slightly.

The stock trades for 6x cash flow.

buying stock back

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The first name he pulled out of the buyback pile was United Stationers (USTR), which has bought back 20% of its shares outstanding. This is a "primo" takeover target, Cramer said.

USTR is the biggest wholesaler of office products, and aside from the buyback thesis, Cramer said he likes it as a "good margin expansion story."

Only 5% of products come from China, and as that number goes up, its costs will go down, Cramer said. Also, USTR is "an undercovered story," he added, with only three analysts on it. The fact that it's not getting much attention means it has good upside potential, he said.

Buy back

FROM PENCILS TO TRASH BASKETS IT HGAS IT ALL.

losing in this economy

United Stationers (USTR)
Noonday Asset Management cut its stake to 2,130,000 shares (7.2%) by selling 604,889 from March 14 to April 2, at prices ranging from $57.12 to $60.13.