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On May 24, 2017, LyondellBasell’s (LYB) board authorized a new share repurchase program. It can repurchase up to 10% of its outstanding shares over the next 18 months.

In this part of the series, we’ll look at agricultural fertilizer producers’ valuations from their historical standpoints. Over the long run, valuation multiples impact a company’s share price.

There’s a handful of big players in the agricultural fertilizer industry. Setting up business requires huge capital, which makes for a high barrier to entry.

A few days ago, Monsanto (MON) agreed to Bayer’s takeover offer of $128 per share for a total deal value of $66 billion.

Kullman’s annual letter to DuPont shareholders for 2013 said that the company made acquisitions that added “scientific expertise and access to new markets.”

Dow Jones Futures are pointing to a flat opening for the day. The flash PMI data and other economic data releases might impact markets today.

US steel production As US (DIA) (DOW) steel production is US steelmakers’ major revenue driver, it’s very important to track it. In this part, we’ll discuss domestic production and capacity utilization. According to the World Steel Association, the United States produced 7.1 million tons of steel in August 2017, an increase of 6.3% YoY (year-over-year). Production rose 5.6% in […]

As of August 25, 2017, PPG Industries’ one-year-forward PE (price-to-earnings) multiple stood at 15.80x.

Analysts are expecting Deere (DE) to post EPS earnings per share of $1.91 for fiscal 3Q17, which would be an increase of 23.2% on a YoY basis.

Albemarle’s (ALB) Refining Solutions is the company’s lowest revenue generator, accounting for 25.0% of its total revenues in 2Q17 compared to 26.6% in 2Q16.

Air Products & Chemicals (APD) announced its fiscal 3Q17 earnings on August 1, 2017. Its adjusted EPS from continuing operations was $1.65.

Dow Chemical’s (DOW) Consumer Solutions segment is the fourth largest segment in terms of revenue.

Dow Chemical’s (DOW) Agricultural Sciences segment accounted for 11.8% of DOW’s total revenue as compared to 13.2% in 2Q16.

In 2Q17, DuPont’s Performance Materials segment reported revenue of $1.38 billion—a increase of 3.40% on a YoY (year-over-year) basis.

On March 31, 2017, APD was left with $485.3 million from its share repurchase program.

As of July 21, 2017, analysts are expecting Dow Chemical (DOW) to post revenues of ~$13.6 billion for 2Q17, which would represent a 14.0% rise on a YoY basis.

PPG Industries’ Performance Coatings segment is its largest revenue contributor. The segment’s contribution to PPG’s overall revenue fell from 61.8% in 2Q16 to 60.5% in 2Q17.

DuPont’s earnings per share estimates for 2Q17 As of July 19, 2017, analysts expected DuPont (DDD) to post operating EPS (earnings per share) of $1.29, an increase of 4.0% YoY (year-over-year). In 2Q16, DuPont reported operating EPS of $1.24. The forecast increase in DuPont’s operating EPS is expected to be driven by improved SG&A (selling, general, […]

On July 12, 2017, LyondellBasell (LYB) granted its Spherizone and Lupotech T Licenses to Shaanxi Coal Yulin Energy and Chemical.

Analysts are expecting PPG Industries (PPG) to post adjusted EPS of $1.84 in 2Q17, which implies a fall of 0.50% YoY.

Praxair’s (PX) interest expense has been on an upward trend since 2012 when its debt grew.

As of June 29, 2017, Celanese’s one-year forward PE (price-to-earnings) multiple stood at 12.20x.

In 2015, PPG’s interest expense dropped significantly. At the end of 2014, PPG refinanced $1.7 billion worth of notes that carried coupon rates of 9% and 7.7%, which reduced the interest expense.

LyondellBasell’s (LYB) interest expense has been steady in the range of $309 million–$352 million since 2013, although debt has risen during the same period.

On June 19, 2017, Air Products and Chemicals (APD) was trading at a one-year forward PE ratio of 22.3x Praxair’s one-year forward PE ratio stood at 22.8x.

As of June 15, International Flavors & Fragrances traded at a one-year forward PE ratio of 22.60x—marginally lower than Sensient Technologies.

GRA closed at $70.53 with a fall of 0.2% for the week ended June 16, 2017.

As of June 13, 2017, Dow Chemical (DOW) was trading at a one-year forward PE ratio of 14.70x, compared to 10.9x for Eastman Chemical (EMN).

On May 26, of the 20 firms tracking Praxair (PX) stock, about 40.0% recommended “buys,” while 55.0% recommended “holds.”

On April 26, 2017, DuPont (DD) declared a dividend of $0.38 per share on its outstanding common stock for fiscal 2Q17. The dividend will be payable on June 12, 2017.

On April 27, 2017, Praxair (PX) announced a dividend of ~$0.79 per share for 2Q17 on the company’s outstanding common stock.

On May 25, 2017, LyondellBasell (LYB) stock closed at $80.67. With LYB’s 2Q17 quarterly dividend of $0.90 per share, its current dividend yield is 4.4%.

On May 15, 2017, LyondellBasell Industries (LYB) said it’s set to build a polyethylene plant at its La Porte, Texas, facility.

International Flavors & Fragrances (IFF) reported revenue of $828.3 million in 1Q17. For the first time, it broke $800 million in revenue during a quarter.

As of May 2, 2017, Wall Street analysts expect International Flavors and Fragrances (IFF) to post adjusted EPS of $1.51, a growth of 2.7% year-over-year as compared to $1.47 in 1Q16.

As of April 27, 2017, Dow Chemical (DOW) was trading at a one-year forward PE ratio of 15.4x, compared to Eastman Chemical (EMN) and LyondellBasell (LYB) at 10.9x and 8.9x, respectively.

Dow Chemical’s (DOW) Consumer Solutions segment reported revenue of $1.6 billion in 1Q17, a 51.7% rise year-over-year compared to $1.1 billion in 1Q16.

DuPont’s Industrial Biosciences segment in 1Q17 DuPont’s (DD) Industrial Biosciences segment, its smallest revenue contributor, accounted 4.8% in 1Q17. The segment reported revenue of $368 million in 1Q17, an increase of 4.5% from the $352 million seen in 1Q16. Increased demand of biomaterials for carpeting and new product launches in bioactives boosted sales volumes. However, revenue […]

PPG Industries’ (PPG) Performance Coatings segment is its largest revenue contributor. The segment accounted for 56.5% of total revenue in 1Q17.

As of April 19, 2017, Dow Chemical (DOW) traded at a one-year forward PE ratio of 14.60x.

As of April 18, 2017, DD traded at a one-year forward PE multiple of 20.60x.

With Sherwin-Williams (SHW) expected to announce its 1Q17 earnings on April 20, 2017, analysts expect it to post revenue of $2.72 billion in 1Q17, a rise of 5.6% year-over-year (or YOY).

Monsanto’s (MON) proposed merger with Bayer is expected to be completed by the 2Q18—but only if it gets the green light from antitrust authorities.

As of March 23, 2017, International Flavors & Fragrances (IFF) stock price closed at $135.07.

As of March 23, 2017, 21 brokerage firms were actively tracking PPG Industries (PPG) stock.

Considering Akzo’s stock price growth, PPG Industries’ (PPG) revised offer of 90 euros per share seems attractive.

As of March 21, Dow Chemical (DOW) traded at a one-year forward PE multiple of 15.50x—compared to its peers Eastman Chemical and LyondellBasell.

From the beginning of 2017 to March 21, 2017, Dow Chemical (DOW) has been an outstanding performer. It rose 10.20% and outperformed SPY.

LyondellBasell is a leading licensor of polyethylene technologies with more than 250 polyolefin process licenses.

As of March 14, 2017, 21 brokerage firms were tracking Praxair (PX) stock actively.