Albemarle Pays A Stiff Price For A Premium Asset
Stephen Simpson, CFA
Stephen Simpson, CFA
Rockwood Is Lean And Mean, But Not Overlooked
Stephen Simpson, CFA
Stephen Simpson, CFA
Mar. 11, 2015, 3:05 AM
- Boeing (NYSE:BA) has announced that high-density packages of lithium batteries like those used in cell phones and laptops pose fire risks and should not be carried on passenger planes until safer methods for carrying them are developed.
- The risk is "continually increasing (and) requires action to be taken," said the aircraft maker.
- A report that labels the batteries as "dangerous goods" is due to be considered in April by the U.N. International Civil Aviation Organization. The recommendations would then need to be approved by the group in October, and by a broader air safety council next year.
- Lithium stocks: ARTX, CBAK, ENS, FMC, GB, JCI, OTCPK:LHMAF, OTCQX:NMKEF, OTCPK:OROCF, OTCPK:PCRFY, PPO, ROC, SQM, OTCQX:WLCDF
- ETFs: LIT
Jan. 9, 2015, 5:35 PM
Nov. 6, 2014, 6:00 PM
- Rockwood Holdings (NYSE:ROC) declares $0.45/share quarterly dividend, in line with previous.
- Forward yield 2.29%
- Payable Dec. 4; for shareholders of record Nov. 17; ex-div Nov. 13.
Nov. 5, 2014, 6:02 AM
- Rockwood Holdings (NYSE:ROC): Q3 EPS of $0.63 beats by $0.05.
- Revenue of $356.3M (+3.0% Y/Y) misses by $2.14M.
Nov. 4, 2014, 5:30 PM
- ACT, ANSS, ARIA, ATHM, AVA, AWR, AXAS, BBEP, BPI, BSFT, CBB, CCC, CEQP, CHK, CLH, CNP, COV, CSTE, CTSH, DAVE, DNR, DUK, EE, ENB, ENDP, FSS, GLDD, GTN, HFC, HL, HRC, INXN, KELYA, LAMR, LPX, LVLT, MDLZ, MEMP, MGA, MNTA, MVIS, NICE, NRG, NUS, OGE, PWE, PWR, RDC, RLGY, ROC, RRD, RTI, SBGI, SE, SEP, SMG, SSYS, STWD, SWC, THI, TMHC, TRGT, TW, TWX, VG, VOYA, WCG, WIX, YORW
Sep. 10, 2014, 7:54 AM
- Huntsman (NYSE:HUN) gains EU regulatory approval for its proposed $1.1B purchase of Rockwood Holdings' (NYSE:ROC) titanium dioxide pigment business after agreeing to sell an asset.
- The European Commission says HUN will sell its global TR52 business, which is its main titanium dioxide grade used for printing ink applications, to allay competition concerns.
- HUN is upgraded to Buy from Neutral with a $32 price target, up from $29, at Citigroup.
Aug. 28, 2014, 12:02 PM
- Rockwood Holdings, Inc. (NYSE:ROC) declares $0.45/share quarterly dividend, in line with previous.
- Forward yield 2.26%
- Payable Sept. 25; for shareholders of record Sept. 10; ex-div Sept. 8.
Aug. 7, 2014, 9:28 AM
- Singapore Airlines' (OTCPK:SINGY) subsidiary, Scoot Pte., has selected Rockwell Collins' (NYSE:ROC) avionics service and asset management program for its new fleet of 20 Boeing 787 aircraft.
- Under the agreement, Rockwell Collins will provide Scoot with guaranteed spares availability, technical repairs and performance monitoring on Rockwell Collins’ communications, surveillance, displays and pilot controls systems.
Aug. 6, 2014, 6:11 AM
- Rockwood Holdings (NYSE:ROC): Q2 EPS of $0.62 beats by $0.13.
- Revenue of $362.3M (+4.1% Y/Y) misses by $7.73M.
Aug. 5, 2014, 5:30 PM
- ANR, AOL, APO, ARIA, AVA, AVT, BRKR, CEQP, CHK, CLH, CMLS, CNP, CONE, CSTE, CTSH, DBD, DISH, DNR, DVN, DWSN, EE, ELOS, GEO, GOV, GWPH, HFC, HNT, INXN, IPXL, ITC, KELYA, LINC, LIOX, MDLZ, MEMP, MVIS, NAVB, NUS, PERI, PH, PKD, POWR, RDC, RL, ROC, SBGI, SE, SEP, SF, SJI, SKYW, STWD, TAP, THI, TRGT, TWX, VC, VIAB, VITC, VOYA, WD, WIX, WPX, ZINC
Jul. 15, 2014, 2:49 PM
- It isn't just Rockwood's (ROC +11.9%) lithium technology that's driving Albemarle's (ALB -0.6%) $6.2B takeover offer - it's good ol' cheap money, Heard on the Street's Liam Denning writes.
- At the end of Q1, ALB’s net debt stood at less than 1x EBITDA, unfashionable with investors when ultra-low interest rates ensure returns on cash are a pittance; with the deal, ALB expects net debt to jump to 3.5x EBITDA with higher cash flows reducing that number quickly, just like a leveraged buyout.
- Credit Suisse likes the deal and raises its price target for Outperform-rated ALB to $90, but Oppenheimer downgrades shares to Underperform, saying the acquisition looks like a "defensive transaction."
Jul. 15, 2014, 9:16 AM
Jul. 15, 2014, 7:02 AM
- Albermarle (NYSE:ALB) has agreed to purchase rival Rockwood Holdings (NYSE:ROC) in a cash-and-stock deal for approximately $6.2B.
- The agreement values Rockwood at $85.53 per share - a 13% premium to its yesterday's closing price. Albemarle will pay $50.65 in cash and 0.4803 shares for each share of Rockwood stock.
- Rockwood announced net sales of $355M for Q1; Albemarle posted $656M.
Jul. 8, 2014, 10:05 AM
- Rockwell Collins (ROC -1.1%) has received a contract from DARPA, to develop new antenna technology as part of the Arrays at Commercial Timescales (ACT) program.
- The program focuses on making "electronically scanned array" antenna technology more affordable, by designing a common building block that is easily reconfigurable, upgradeable and digitally connected. The defense agency's objective is to cut the total cost of procurement by at least 80%. (PR)
Jun. 18, 2014, 6:23 PM
- Air Products & Chemicals (APD) reached a record high today after it hired away Rockwood (ROC) CEO Seifi Ghasemi to run the company, and investors were thrilled since the hiring could signal that APD may be open to divestitures, according to Oppenheimer analyst Edward Yang.
- Under Ghasemi, ROC recently sold its ceramics business and is in the process of selling its paint pigment unit to Huntsman; although APD has not expressed plans to divest any of its businesses, investors have questioned whether APD should sell its volatile electronics business (~17% of sales), which is more cyclical than its core industrial gases business.
- SunTrust analyst James Sheehan, however, thinks divesture may not be as large a part of Ghasemi's strategy as it was at ROC; at APC, the focus will be more about operational execution and spending discipline.
Jun. 18, 2014, 8:27 AM
- Air Products (APD) +7.3% premarket after naming Rockwood Holdings (ROC) chairman and CEO Seifi Ghasemi as its new chairman, president and CEO, effective July 1.
- ROC appoints CFO Robert Zatta as acting CEO, and says its board will begin a search process for a permanent CEO; Ghasemi, who has led ROC since 2001, will remain chairman until Jan. 1, then continue as a director.
- APD has been under pressure from Bill Ackman's Pershing Square - APD's largest shareholder, with a 9.7% stake - to overhaul its management.
Rockwood Holdings Inc is a developer, manufacturer and marketer of value-added specialty chemicals and materials used for industrial and commercial purposes. The Company operates through two business segments: Lithium and Surface Treatment.
Sector: Basic Materials
Industry: Specialty Chemicals
Country: United States
Other News & PR