ADVFN - Advanced Financial Network.
HOME» NYSE » V » VAL Stock Price » VAL Stock News

Valspar Share News

 Valspar Corp. Stock Price
VAL Stock Price
 Valspar Corp. Stock Chart
VAL Stock Chart
 Valspar Corp. Stock News
VAL Stock News
 Valspar Corp. Company Information
VAL Company Information
 Valspar Corp. Stock Trades
VAL Stock Trades

Valspar CEO: Not Interested In Buying DuPont Coatings Business

By Doug Cameron Of DOW JONES NEWSWIRES Valspar Corp. (VAL), the U.S. paint maker, on Tuesday ruled itself out of bidding for the $3 billion coatings business that DuPont Co. (DD) is looking to sell. Gary E. Hendrickson, chief executive of Minneapolis-based Valspar, said the DuPont unit was "a little too big a bite for us" as the company reported better-than-expected fiscal first quarter earnings and raised its full-year guidance. Merger and acquisition activity in the chemicals sector has intensified in recent months, and DuPont hired Credit Suisse Group AG to lead the potential sale of its performance coatings unit, according to people familiar with the situation. Large paint manufacturers, such as Akzo Nobel NV of the Netherlands, and private-equity firms are seen as potential buyers. Hendrickson, speaking to analysts on a conference call, said the company still faced a sluggish U.S. housing market as well as other demand "challenges, notably in Europe and China. The Chinese market is expected to pick up in the second half of the year after a flat performance in the latest quarter, and Valspar also sees costs for raw materials such as the titanium dioxide used to whiten paint rising by mid-single digits this year. .Valspar, which has a market value of $4.3 billion, reported profit of $55.8 million for the quarter to Jan. 27 compared with $33.4 million a year earlier. Per-share earnings rose to 58 cents, 10 cents ahead of consensus, from 34 cents. The company raised its full-year profit guidance range by a dime to $2.92 to $3.12 per share. The stock was recently up 5.4% at $46.41, having reached an all-time high earlier in the session. -By Doug Cameron, Dow Jones Newswires; 312-750-4135; (Tess Stynes contributed to this article.)

Stock News for Valspar (VAL)
06/30/201512:08:00Valspar Foundation Awards $64,000 in Student Scholarships
06/26/201515:32:20Statement of Changes in Beneficial Ownership (4)
06/12/201514:42:28Statement of Changes in Beneficial Ownership (4)
06/12/201514:19:05Initial Statement of Beneficial Ownership (3)
06/12/201509:49:38Current Report Filing (8-k)
06/12/201509:31:00David R. Lumley Elected to Valspar Board of Directors
06/10/201511:21:30Quarterly Report (10-q)
06/05/201514:48:55Statement of Changes in Beneficial Ownership (4)
06/05/201514:41:56Statement of Changes in Beneficial Ownership (4)
06/05/201514:34:01Statement of Changes in Beneficial Ownership (4)
06/04/201516:55:39Current Report Filing (8-k)
06/03/201509:43:30Statement of Changes in Beneficial Ownership (4)
06/01/201516:07:00Valspar Completes Acquisition of Performance Coatings Businesses...
05/27/201509:40:17Valspar Profit Rises Despite Sales Drop
05/27/201508:47:33Current Report Filing (8-k)
05/27/201508:31:23Current Report Filing (8-k)
05/27/201507:30:00Valspar Reports Fiscal 2015 Second Quarter Results
05/27/201507:00:00Valspar to Acquire the Performance Coatings Businesses from Quest...
05/27/201507:00:00Valspar to Acquire the Performance Coatings Businesses from Quest...
05/21/201517:28:00Valspar Declares Quarterly Dividend

Valspar and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations