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News Breaks
April 3, 2014
11:19 EDTSHW, RPM, VAL, PPGRPM hits 52-week high after raising full year profit outlook
Shares of specialty chemical, paint, and coating maker RPM (RPM) are rallying after the company raised its fiscal 2014 profit outlook. WHAT'S NEW: This morning, RPM reported third quarter earnings per share of 12c and revenue of $863.4M, compared to expectations of 9c and $877.67M, respectively. RPM raised its FY14 EPS view to $2.10-$2.15 from $2.05-$2.10, compared to consensus of $2.11. It also forecast FY14 industrial sales growth of 4%-6% and consumer sales growth of 8%-10%. The company cited stronger than anticipated leverage in its industrial segment, resulting from solid performance in Europe and businesses serving U.S. construction markets, as the reason for the improved outlook. PRICE ACTION: In late morning trading, RPM rose $2.03, or 4.8%, to $44.20 on heavy trading volume. Earlier in the session, the stock hit a fresh 52-week high of $45.47. Including today's advance, the stock is up approximately 43% over the past twelve months. OTHERS TO WATCH: Other companies in the paint and coatings space include PPG Industries (PPG), Valspar (VAL), and Sherwin Williams (SHW).
News For RPM;PPG;VAL;SHW From The Last 14 Days
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April 23, 2015
10:00 EDTSHWOn The Fly: Analyst Upgrade Summary
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09:19 EDTSHWSherwin-Williams upgraded to Outperform from Peer Perform at Wolfe Research
Wolfe Research upgraded Sherwin-Williams to Outperform with a $310 price target based on valuation, rising estimates, strong macros, and accelerating buybacks.
April 17, 2015
07:37 EDTSHWSherwin-Williams shares should continue to rise, says RBC Capital
After Sherwin-Williams reported lower than expected Q1 EPS but provided higher than expected Q2 EPS guidance, RBC Capital expects the company's growth to accelerate in Q2 and Q3. The firm notes that the company expects to benefit from raw material cost declines going forward, and it recommends buying the stock on any weakness.
April 16, 2015
09:18 EDTSHWOn The Fly: Pre-market Movers
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08:32 EDTPPGPPG Industries increases quarterly dividend, approves 2-for-1 stock split
The board of directors of PPG Industries declared a regular quarterly dividend of 72c per share, payable June 12 to shareholders of record May 11. This marks the company’s 467th consecutive dividend payment. PPG’s previous dividend, paid in March, was 67c per share. The company has paid uninterrupted annual dividends since 1899. PPG directors also approved a 2-for-1 split of the company’s common stock for all shareholders of record as of the close of business May 11. On June 12, following payment of the quarterly per-share dividend, each shareholder will also receive a stock dividend of one additional share of common stock for each share held on the record date. PPG common stock will begin trading on a split-adjusted basis on Monday, June 15.
08:12 EDTPPGPPG Industries announces business restructuring program
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08:12 EDTPPGPPG Industries reports Q1 adjusted EPS $2.37, consensus $2.34
Reports Q1 revenue $3.7B, consensus $3.79B. “Looking ahead, we anticipate stronger global economic growth in the coming quarters, including a resumption of growth in Europe and a return to a higher growth rate in the U.S.,” the company said. “We remain well-positioned to leverage this growth into strong earnings contributions, given our lower cost base stemming from our continued cost management actions. We remain focused on aggressively managing our costs and are initiating restructuring actions concentrated on securing the synergies we committed to with our recent acquisitions, along with other global productivity measures in certain businesses and regions.”
07:08 EDTSHWSherwin-Williams reports Q1 Paint Sales Group sales up 7.5% to $1.46B
Reports Q1 Consumer Group sales up 8.1% to $351.7M. Reports Q1 Global Finishes Group sales down 5.6% to $469.6M. Reports Q1 Latin America Coatings Group sales down 8.9% to $166.2M.
07:06 EDTSHWSherwin-Williams backs FY15 EPS $10.90-$11.10, consensus $11.22
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07:06 EDTSHWSherwin-Williams sees Q2 EPS $3.70-$3.90, consensus $3.70
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07:05 EDTSHWSherwin-Williams reports Q1 EPS $1.38, consensus $1.44
Reports Q1 revenue $2.45B, consensus $2.49B
April 15, 2015
15:31 EDTSHWSherwin-Williams technical commentary before earnings
The stock is trading near its life high of $292.51 ahead of results. Since the breakout from the October market lows, the stock has gained more than 40%. The rapid ascent in shares has recently stalled, however. The low of the current trading range is at $275 and the high of the range is at $290. A breakdown below the low of the range on a disappointment in results our outlook would be bearish. It would signal a break of the longer-term uptrend since 2011, which has been nearly vertical. Support below $275 would be at $265.14. If the news is more bullish than current expectations suggest, a move up to the $300 area would be highly probable. The $300 level corresponds to the median analyst price target according to Thomson/First Call, with the high 1-year target at $330.
April 14, 2015
09:01 EDTRPMRPM acquires Firetherm Intumescent & Insulation Supplies
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April 13, 2015
09:14 EDTVALValspar opens new advanced manufacturing center in Tianjin, China
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09:01 EDTRPMRPM2 Group acquires Morrells Woodfinishes
RPM International announced that its RPM2 Group has acquired Morrells Woodfinishes. Based outside of Manchester, Morrells has annual net sales of approximately $33M and nearly 150 employees. The company will remain a stand-alone operation within RPM2's Wood Finishes Group. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.

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