acquisition strategy

A: Morneau Shepell Inc., $18.40, symbol MSI on Toronto (Shares outstanding: 53.1 million; Market cap: $974.4 million; www.morneaushepell.com), is the largest Canadian firm providing human resource consulting and outsourcing services....

A: Salesforce.com Inc., $81.42, symbol CRM on New York (Shares outstanding: 677.5 million; Market cap: $55.0 billion, www.salesforce.com) makes customer relationship management (CRM) software that helps businesses organize and share information about their sales, customer service and marketing activities.

The company first sold shares to the public at $2.75 a share (adjusted) in June 2004.

Salesforce sells its software over the Internet as a cloud-based subscription service....

Lumber firm Stella-Jones Inc. experienced double-digit growth in both sales and earnings for the quarter.

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Stella-Jones Inc., $49.00, symbol SJ on Toronto (Shares outstanding: 69.1 million; Market cap: $3.4 billion; www.stella-jones.com), makes pressure-treated wood products. They include: railway ties (45% of sales); utility poles (34%); treated lumber products for the residential market (12%); lumber for industrial uses such as construction timbers and highway guardrails (6%); and logs and lumber (3%). The company gets most of its utility poles from timberlands that it leases in Quebec and B.C. It also buys wood for railway ties and other products from sawmills in the U.S. and Canada. The U.S. also provides 82% of its sales, while Canada supplies the remaining 18%....

American Hotel Income Properties REIT, $10.08, symbol HOT.UN on Toronto (Units outstanding: 35.0 million; Market cap: $351.8 million, www.ahipreit.com), owns 80 hotels, comprising 7,072 rooms in 27 U.S. states. Of that total, 45 of the hotels operate under the Oak Tree Inn brand. For the most part, hotel guests are railroad workers. American Hotel believes this is a profitable niche market, as contracts with large railways keep occupancy rates high relative to the overall hospitality industry. The hotels are close to large rail-switching yards and hubs, and the railway contracts keep them about 75% occupied. The specially designed buildings feature crew shuttles and 24-hour food service....

Exchange Income Corp., $29.88, symbol EIF on Toronto (Shares outstanding: 27.6 million; Market cap: $820.1 million; www.exchangeincomecorp.ca), operates in two main areas: aviation and manufacturing. The aviation business (76% of its 2015 revenue) serves communities in Manitoba, Ontario and Nunavut through regional airlines. They include Perimeter Aviation, Keewatin Air, Calm Air International, Bearskin Lake Air Service, Custom Helicopters and Regional One. The manufacturing business (24% of revenue) includes WesTower Communications Canada (a maker and installer of wireless communication towers), Jasper Tank, Overlanders Manufacturing, Water Blast Manufacturing and Stainless Fabrication....

MCCORMICK & CO. INC. $93 (New York symbol MKC; Income Portfolio, Consumer sector; Shares outstanding: 115.3 million; Market cap: $10.7 billion; Price-to-sales ratio: 2.8; Dividend yield: 1.8%; TSINetwork Rating: Average; www.mccormick.com) has paid $114 million for Botanical Food Co. Based in Australia, this firm makes packaged herbs under the Gourmet Garden brand. It sells these products mainly in Australia and North America. The purchase complements McCormick’s existing spice products. It will also add $53 million to its annual sales of $4.3 billion. The stock now trades at 24.9 times the $3.73 a share that the company will likely earn in its current fiscal year. That’s a high multiple in light of McCormick’s growth-by-acquisition strategy and currency risk....

MCCORMICK & CO. INC. $93 (New York symbol MKC; Income Portfolio, Consumer sector; Shares outstanding: 115.3 million; Market cap: $10.7 billion; Price-to-sales ratio: 2.8; Dividend yield: 1.8%; TSINetwork Rating: Average; www.mccormick.com) has paid $114 million for Botanical Food Co. Based in Australia, this firm makes packaged herbs under the Gourmet Garden brand. It sells these products mainly in Australia and North America. The purchase complements McCormick’s existing spice products. It will also add $53 million to its annual sales of $4.3 billion. The stock now trades at 24.9 times the $3.73 a share that the company will likely earn in its current fiscal year. That’s a high multiple in light of McCormick’s growth-by-acquisition strategy and currency risk....

Parkland Fuel will raise its dividend in 2016 and continue to expand with the purchase of 17 Esso stations and the franchise rights for On the Run convenience stores.