Re: NWL
Bloomberg Radio said that the NWL restructure to sell some of their business units and/or manufacturing/wharehouse would take 2 years and also would result in 50% less customers. Still not bad if margins increase and they can grow their more profitable lines.
I see it like cleaning out your garage. Didn't realize they sold Mr. Coffee and those Sunbeam products.
Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands, including Paper Mate, Sharpie, Dymo, EXPO, Parker, Elmer's, Coleman, Jostens, Marmot, Rawlings, Oster, Sunbeam, FoodSaver, Mr. Coffee, Rubbermaid Commercial Products, Graco, Baby Jogger, NUK, Calphalon, Rubbermaid, Contigo, First Alert, Waddington and Yankee Candle.
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Still, after adjusting their BV to 75% of their stated amount to reflect a fire side sale of assets and using next years earnings estimates, the GN value comes to $34.00/share.
I have a small order in at $23.00/share which reflects a 4% dividend yield.
No rush to get in but after they complete their re-org (24 months), this could go back to the $34.00/share price area.
EKS |
