Updating McCormick & Co. Inc., T. Rowe Price Group Inc., Snap-On Inc., and Wells Fargo & Co.

Article Excerpt

MCCORMICK & CO. INC. $33 (New York symbol MKC) will acquire the 49% of Dessert Products International (DPI) that it does not already own in exchange for its half of another joint venture company. DPI makes dessert toppings for the European market, and owning 100% of it should make it easier for McCormick to expand this business. But McCormick’s restructuring will slow its profit growth in 2006. Hold. T. ROWE PRICE GROUP INC. $77 (Nasdaq symbol TROW) has raised its quarterly dividend 21.7%, from $0.23 a share to $0.28. The new annual rate of $1.12 yields 1.5%. However, its p/e of 21 increases the risk of a sudden drop if the company’s earnings fail to match expectations. Hold. SNAP-ON INC. $39 (New York symbol SNA) raised its quarterly dividend 8.0%, from $0.25 a share to $0.27. The new annual rate of $1.08 yields 2.8%. The growing complexity of new cars, particularly hybrids, should spur more demand for Snap-On’s tools and equipment. Buy. WELLS…

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