Updating your Aggressive stocks: Shawcor, Nutrien & Toromont Industries

Article Excerpt

SHAWCOR LTD. $5.21 (www.shawcor.com) remains a buy. The company makes sealants and coatings that keep oil and gas pipelines from rusting. It also manufactures industrial products, such as electrical wire and protective sheaths, as well as fiberglass-reinforced plastic underground tanks to store fuel and wastewater. ShawCor recently completed a deal to sell and lease back its facility in northwestern Toronto. It will use the $49 million in net proceeds from the transaction to pay down its long-term debt of $278.6 million (as of March 31, 2022). That’s equal to 76% of its $367.3 million market cap. ShawCor is a buy. NUTRIEN LTD. $97 (www.nutrien.com) is a buy. The company now plans to increase its potash production to 18.5 million tonnes by 2025. That’s 5 million tonnes, or 40% higher, than its 2020 output. That will let it take advantage of higher prices due to sanctions on potash exports from Russia and Belarus. The company also increased your quarterly dividend by 4.3% with the April 2022 payment. The new…

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