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Stock Market & Financial Investment News

News Breaks
December 5, 2012
15:52 EDTVALValspar increases dividend 15% to 23c per share, authorizes 15M share repurchase
The Valspar Corporation announced its board has declared a quarterly dividend of 23c per share, payable December 28 to all common stockholders of record on December 17. This dividend payment accelerates the corporation's regular quarterly dividend, which is normally paid in January. The payment represents a 15% increase over last quarter's payment. The board has also authorized the repurchase of 15M shares of outstanding common stock. This authorization is effective immediately, replaces the previous repurchase authorization of October 2010, and has no expiration date.
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April 3, 2014
11:19 EDTVALRPM 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).

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