How a Spinoff Will Boost Fortune Brands—and Make the Stock a Buy Now [MarketWatch]
Xylem Inc. New (XYL)
Last xylem inc. new earnings: 2/6 06:50 am
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Source: MarketWatch
Now, it's remodeling itself by spinning off its largest division into a stand-alone company that could draw in new investors and make the stock sparkle. Fortune (ticker: FBHS) is no stranger to spinoffs. The company was born from a spinoff a little over a decade ago, when it was part of a conglomerate that also sold Jim Beam liquors and Titleist golf balls. That spin was extremely successful, as Fortune Brands has grown earnings per share at a 24% compound annual growth rate since then, versus 7% for the S&P 500 “Given our history, we know how to do these and we do them well,” says CEO Nicholas Fink. Lately, Fortune stock has sold off along with other housing-related names, on fears that interest-rate hikes will sink its business. Shares are down 32% this year, to a recent $72.98. Fortune now owns well-known home brands like Moen plumbing fixtures, Master Lock, and Omega cabinets. The next spinoff, which is likely to happen in 2023, involves splitting the company's cabinetry div
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- Xylem to Host Investor Day on May 30, 2024 [Yahoo! Finance]Yahoo! Finance
XYL
Earnings
- 2/6/24 - Beat
XYL
Sec Filings
- 4/2/24 - Form DEFA14A
- 4/2/24 - Form DEF
- 3/11/24 - Form 144
- XYL's page on the SEC website