) recently announced the acquisition of privately held Hayes
Industries Ltd. Based in Sugar Land, TX, Hayes is a concrete pre-
and post-tensioning products market player. The transaction was
valued at $31 million, with future performance-related
With a capacity of generating annual revenues of $25 million,
Hayes caters to a wide range of markets including extrusion and
coating, plastic injection molding, custom equipment, post-tension,
pre-stress and machining. The company will presently operate as a
part of Actuant's Industrial segment, complementing its existing
Precision Sure-Lock business.
Acquisitions have been Actuant's favored mode of business
expansion over time. It completed the acquisition of Viking SeaTech
in Aug 2013. The acquired assets contributed significantly to the
company's revenues in fiscal second-quarter 2014 (ended Feb 28,
The company is expected to release its fiscal third-quarter 2014
results on Jun 18, 2014. The current Zacks Consensus Estimate for
the quarter stands at 63 cents per share while that for fiscal 2014
stands at $1.97 per share, reflecting year-over-year growth of 1.0%
and 4.8%, respectively.
Actuant is involved in the designing, manufacturing and
distribution of various industrial products and systems for its
clients in more than 30 countries. With a market capitalization of
$2.5 billion, Actuant carries a Zacks Rank #3 (Hold). Some
better-ranked stocks in the industry include
Illinois Tool Works Inc.
Blount International Inc.
). While Gorman-Rupp sports a Zacks Rank #1 (Strong Buy), both
Illinois Tool Works and Blount International hold a Zacks Rank #2
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