) gained nearly 1% and closed at $89.73 after OPW, a unit of its
Fluids segment, completed the earlier announced acquisition of
Headquartered in Smithfield, NSW, Australia, Liquip is a leading
Australian designer and manufacturer of bulk liquid handling and
storage solutions in the petroleum, aviation, and chemical markets.
The acquisition of Liquip will enable OPW to form a superior
product portfolio. The buyout will cater to the exclusive
requirements of OPW's chemical and industrial and tank truck
Dover's expansion has been mainly driven by acquisitions. Over the
past three years Dover has spent over $2.7 billion to purchase 26
businesses which include 10 acquisitions for $323 million in fiscal
In early 2014, Dover's Engineered Systems acquired Italy-based MS
Printing Solutions S.r.l. Further, in Jul 2014, its Energy segment
acquired The WellMark Company to meet the growing global demands of
oil and gas customers. The Liquip acquisition is the first one in
2014 by Dover's Fluids segment.
Dover expects to benefit from its strategy of acquiring value
creating add-on businesses, which will assist in the expansion of
its global presence. Moreover, Dover's continuous focus on
development and delivery of products and solutions to customers is
expected drive growth.
At its second quarter conference call, Dover raised its full-year
2014 earnings guidance to a new range of $4.75-$4.85 per share. The
company now expects organic revenue growth of 4%. Acquisitions are
expected to contribute 3% to the growth, resulting in revenue
growth of 6%-7% in fiscal 2014.
Dover currently carries a Zacks Rank #3 (Hold). Other stocks in the
same industry with favorable Zacks ranks are Atlas Copco AB (
), DXP Enterprises, Inc. (
) and IDEX Corp. (
). All these stocks carry a Zacks Rank #2 (Buy).
Illinois-based Dover is an industrial conglomerate producing a wide
range of specialized industrial products and manufacturing
equipment. It operates through four major operating segments:
Communication Technologies, Energy, Engineered Systems and Printing
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