3M (MMM) is in the process of realigning its portfolio to have a more customer-focused business model. It brought down its business portfolio from 40 to 25.
On December 14, 2016, Albemarle (ALB) announced the completion of the sale of its Chemetall surface treatment business to BASF.
On December 15, LyondellBasell was trading at a one-year forward PE ratio of 9.1x, which is at a discount compared to Eastman, Dow, and Celanese.
As of December 15, 2016, 16 brokerage firms are actively tracking LyondellBasell stock. About 35% of these analysts have recommended a “buy” for the stock.
On November 18, LyondellBasell (LYB) announced a fourth quarter dividend of $0.85 per share.
LyondellBasell (LYB) stock has made a strong comeback since it announced its 3Q16 earnings on November 1.
As of December 14, 2016, about 50.0% of the analysts tracking Albemarle stock have recommended a “buy” for the stock. The other 50.0% have recommended a “hold.”
As of December 14, 2016, Albemarle (ALB) was trading at a one-year forward PE multiple of 22.7x compared to W.R. Grace (GRA) at 20.0x.
In the first nine months of 2016, Albemarle has paid a dividend of $101.1 million, which represents a dividend payout ratio of approximately 25.9%.
As of December 14, 2016, Albemarle has risen 7.6% since the beginning of November. In November alone, the stock rose 5.1%.
EW reported a rise of ~5.2% in its Critical Care segment sales in 3Q16, primarily due to the double-digit growth in the segment’s core product portfolio.
Edwards Lifesciences reported flat underlying sales in its SHV (surgical heart valve) Therapy segment in 3Q16 due to a decline in aortic valve sales.
On November 28, 2016, Edwards Lifesciences (EW) announced the acquisition of Valtech Cardio for $340 million in stock and cash.
On December 9, Praxair was trading at a one-year forward PE ratio of 21.0x, as compared to Air Products and Chemicals’ one-year forward PE ratio of 22.9x.
On August 16, 2016, both companies were engaged in preliminary merger talks, but on September 12, merger plans were dropped due to strategic considerations.
On December 8, 2016, Tronox announced price rises for all of its titanium dioxide grades. The rise in titanium dioxide prices will be effective on January 1, 2017.
On December 9, 2016, H.B. Fuller announced a restructuring plan to fuel its future growth. H.B.’s restructuring plan intends to move a step closer to achieving the company’s vision for 2020.
On December 9, PPG Industries’ (PPG) board approved a restructuring plan to cut down its global cost structure.
On December 8, 2016, 3M Company announced that it had entered into an agreement with Gemalto to sell its identity management business for $850 million.
The merger deal between Abbott Laboratories (ABT) and Alere (ALR) has become an extended battle, and Wall Street analysts have been closely watching the ongoing developments in this deal.