spin off
Activist investors tend to do a good job identifying ways that under-performing companies like Suncor and Alphabet can boost shareholder value. Even though they’re not always successful, those high-profile investors help draw attention to firms with already-good long-term prospects.
SUNCOR ENERGY INC....
SUNCOR ENERGY INC....
This week we present a Spotlight Report on a stock that has already spun off some profitable spinoffs and may do more in the future.
Danaher is a great example of how a company can unlock value for shareholders by “spinning off” businesses....
Danaher is a great example of how a company can unlock value for shareholders by “spinning off” businesses....
ROYAL BANK OF CANADA, $130.91, Toronto symbol RY, is a buy.
The bank is raising its quarterly dividend by 3.1%. Starting with the February 2023 payment, investors will receive $1.32 a share instead of $1.28. The new annual rate of $5.28 yields a solid 4.0%.
Royal has also agreed to pay $13.5 billion in cash for the Canadian operations of U.K.-based HSBC Holdings plc (New York symbol HSBC)....
The bank is raising its quarterly dividend by 3.1%. Starting with the February 2023 payment, investors will receive $1.32 a share instead of $1.28. The new annual rate of $5.28 yields a solid 4.0%.
Royal has also agreed to pay $13.5 billion in cash for the Canadian operations of U.K.-based HSBC Holdings plc (New York symbol HSBC)....
Like Imperial Oil (see page 1), these three oil and gas producers are also benefitting from higher energy prices and moderating capital spending plans. That’s freeing up more cash for dividends and debt repayments.
We continue to see all three as high-quality buys for the Resources portion of your portfolio....
We continue to see all three as high-quality buys for the Resources portion of your portfolio....
ROYAL BANK OF CANADA, $134.21, Toronto symbol RY, is still a buy.
The bank has agreed to pay $13.5 billion in cash for the Canadian operations of U.K.-based HSBC Holdings plc (New York symbol HSBC). Those include 130 branches, which mainly cater to businesses in industries that trade and bank internationally....
The bank has agreed to pay $13.5 billion in cash for the Canadian operations of U.K.-based HSBC Holdings plc (New York symbol HSBC). Those include 130 branches, which mainly cater to businesses in industries that trade and bank internationally....
WORTHINGTON INDUSTRIES INC. $55 is a spinoff buy. The company (New York symbol WOR; Manufacturing & Industry sector; Shares outstanding: 49.7 million; Market cap: $2.7 billion; Dividend yield 2.3%; Takeover Target Rating: Medium; www.worthingtonindustries.com) has four operating segments: Steel Processing, Consumer Products, Building Products, and Sustainable Energy Solutions.
Worthington now plans to spin off its steel-processing business from its three other segments....
Worthington now plans to spin off its steel-processing business from its three other segments....
Activist investors continue to take advantage of the stock market downturn to buy stakes in what they see as undervalued firms. Here’s our take on three new activist targets.
COLGATE-PALMOLIVE CO. $76 is a buy. The company (New York symbol CL; Consumer sector; Shares outstanding: 835.2 million; Market cap: $63.5 billion; Dividend yield 2.5%; Takeover Target Rating: Medium; www.colgatepalmolive.com) makes a wide variety of health, beauty and household products, including Ajax, Fab, Murphy and Palmolive cleansers; Colgate toothpaste; Irish Spring, Palmolive, Sanex, Softsoap soaps; Mennen shave cream; and Hill’s pet food brands Science Diet and Prescription Diet.
Activist investor Dan Loeb’s Third Point LLC has now taken a nearly $1 billion stake in Colgate-Palmolive.
He wants the company to spin off its Pet Nutrition business....
COLGATE-PALMOLIVE CO. $76 is a buy. The company (New York symbol CL; Consumer sector; Shares outstanding: 835.2 million; Market cap: $63.5 billion; Dividend yield 2.5%; Takeover Target Rating: Medium; www.colgatepalmolive.com) makes a wide variety of health, beauty and household products, including Ajax, Fab, Murphy and Palmolive cleansers; Colgate toothpaste; Irish Spring, Palmolive, Sanex, Softsoap soaps; Mennen shave cream; and Hill’s pet food brands Science Diet and Prescription Diet.
Activist investor Dan Loeb’s Third Point LLC has now taken a nearly $1 billion stake in Colgate-Palmolive.
He wants the company to spin off its Pet Nutrition business....
Industrial and consumer products giant 3M has now completed the merger of its food safety operations with Neogen. The deal is part of 3M’s strategy to focus on its more-promising businesses. The next step will come in 2023 when it spins off its Health Care operations as a separate firm.
We feel these moves improve 3M’s long-term prospects....
We feel these moves improve 3M’s long-term prospects....
FREEPORT-MCMORAN INC., $38.04, symbol FCX on New York, is one of the world’s largest publicly traded copper producers. The company owns mines in North America, South America, and Indonesia.
In late October 2022, Freeport-McMoRan reportedly entered discussions with Grupo Mexico SAB for the purchase of its Arizona copper smelter....
In late October 2022, Freeport-McMoRan reportedly entered discussions with Grupo Mexico SAB for the purchase of its Arizona copper smelter....
Teck is now shifting its focus to “low carbon metals,” such as copper and zinc. Under that plan, the company is selling its stake in an oil sands project. It could also spin off or sell its coal operations. These moves would help unlock more of Teck’s value, particularly as the stock continues to rebound from its pandemic low of $8.15 in March 2020.
TECK RESOURCES LTD....
TECK RESOURCES LTD....