Specialty chemicals company
Rockwood Holdings, Inc.
) has announced a roughly 15% hike in its quarterly dividend to
40 cents per share from the prior payout of 35 cents. The
increased dividend will be paid on Mar 22, 2013, to stockholders
of record as of Mar 7, 2013.
Princeton, NJ-based Rockwood is a premier specialty chemical and
advanced materials company. The company reported net sales of
nearly $3.5 billion in 2012 and employs roughly 10,200 people
A few days ago, the company released its fourth-quarter 2012
results. Profit from continuing operations, as reported, fell to
$21.2 million or 26 cents per share in the quarter from $63
million or 79 cents per share a year ago. Adjusted earnings from
continuing operations of 45 cents per share missed the Zacks
Consensus Estimate of 48 cents.
Revenues came in at $829 million in the quarter, up 1.8% from
$814 million recorded in the year-ago quarter, beating Zacks
Consensus Estimate of $795 million.
Recently, Rockwood entered into an agreement to acquire Kemira
Oyj's 39% stake in their titanium dioxide (TiO2) joint venture
"Sachtleben." With this buyout, Rockwood will get 100% ownership
of the joint venture.
Rockwood expects its Lithium, Surface Treatment and Advanced
Ceramics businesses to perform well in the near future. Its
Performance Additives segment is expected to gain from any
material recovery in the U.S. housing market. However, weak
performance is expected in the TiO2 business in the first half of
2013 with improved results expected in the second half
anticipating stabilization in pricing and raw material costs.
Rockwood currently maintains a Zacks Rank #3 (Hold).
Other companies in the specialty chemicals space with
favorable Zacks Rank are
). While both Novozymes and Penford retain a Zacks Rank #1
(Strong Buy), Chemtura holds a Zacks Rank #2 (Buy).
CHEMTURA CORP (CHMT): Free Stock Analysis
NOVOZYMES A/S (NVZMY): Get Free Report
PENFORD CORP (PENX): Free Stock Analysis
ROCKWOOD HLDGS (ROC): Free Stock Analysis
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