Home » Archives for October 2018 » Page 2

3M – Don’t Give Up On This Great Company

Summary While MMM reported Q3 results on October 23rd and revised FY2018 earnings downward, the revised FY2018 EPS projections are 11 % - 13% higher than FY2017 results. MMM will be holding its Investor Day on November 15th at which time management will lay out its 5-year plan and the framework for that plan. View [...]

By |October 23rd, 2018|Equity Investing|Comments Off on 3M – Don’t Give Up On This Great Company

United Technologies – Fairly Valued

United Technologies (UTX) released its Q3 2018 results on October 23rd and provided an upward revision to its adjusted EPS for the full year. Approvals from the EU Commission and from the U.S. Department of Justice re: Rockwell Collins acquisition have been received and feedback from China is anticipated within 2 - 6 weeks. UTX's [...]

By |October 23rd, 2018|General Investing|Comments Off on United Technologies – Fairly Valued

United Technologies – Fairly Valued

Summary UTX released Q3 results on October 23 and provided an upward revision to its adjusted EPS for FY2018. The Rockwell Collins acquisition has received approval from the EU Commission and from the U.S. Department of Justice. The deal is currently under review in China and the acquisition is expected to close in 2 - [...]

By |October 23rd, 2018|Equity Investing|Comments Off on United Technologies – Fairly Valued

W.W. Grainger – Zig When Others Zag

  W.W. Grainger (GWW) released its Q3 2018 results on October 16th. Included in these results was a ~$0.139B write-down of Goodwill and Intangible Assets. In addition to this write-down, there has been an impact to revenue by reason of the new revenue recognition accounting standard where certain service costs are reclassified from operating expense [...]

By |October 16th, 2018|General Investing|Comments Off on W.W. Grainger – Zig When Others Zag

Sherwin-Williams – Approaching Fair Value

This is the second of two articles in which I look at companies within the coatings industry which have retraced from their respective 52 week highs. The first article covered PPG and this article covers Sherwin-Williams.   Summary Following the 2017 Valspar acquisition, SHW is the leader in the highly fragmented coatings industry with the [...]

By |October 15th, 2018|General Investing|Comments Off on Sherwin-Williams – Approaching Fair Value

Sherwin-Williams – Approaching Fair Value

Summary Following the 2017 Valspar acquisition, SHW is the leader in the highly fragmented coatings industry with the top 10 suppliers holding a ~55% market share. Goodwill and Intangible Assets now comprises over 64% of SHW’s Total Assets. SHW’s Long-Term Debt to EBITDA ratio upon completion of the Valspar acquisition rose to 4.5Xs. At its [...]

By |October 15th, 2018|Equity Investing|Comments Off on Sherwin-Williams – Approaching Fair Value

PPG – I Will Pass Despite Its Attractive Valuation

Attractive buying opportunities have been hard to find and with PPG's stock price having retraced ~22% from its 52 week high I take a look at whether PPG is a worthwhile investment. Summary The news coming from PPG in recent months has been less than positive. PPG released lower earnings guidance for Q3 and Q4 [...]

By |October 14th, 2018|General Investing|Comments Off on PPG – I Will Pass Despite Its Attractive Valuation

Embrace Market Pullbacks

Market pullbacks are a normal part of equity investing. The pullback we are currently experiencing is not the first time this has occurred and it won't be the last. Pullbacks present you with an opportunity to enhance your wealth or you can suffer a permanent impairment to your capital. This article provides suggestions on how [...]

By |October 11th, 2018|General Investing|Comments Off on Embrace Market Pullbacks

All Companies in Which We Own Shares

During my journey to financial freedom I have continually strived to invest in high quality companies. In this post I disclose all the companies in which shares are currently held in the FFJ Portfolio and in undisclosed accounts.   In my June 24, 2018 and September 20, 2017  posts which were restricted to subscribers I [...]

By |October 9th, 2018|General Investing|Comments Off on All Companies in Which We Own Shares