Stock Spin-off Links Recently Announced Spin-offs On November 5, 2018, FMC Corp (FMC) a chemical company focused primarily on the agriculture market, announced that it would spin off its remaining ~85% stake in Livent (LTHM), its pure-play lithium subsidiary, on March 1, 2019. FMC previously sold ~15% of LVTH in an October IPO. [...]
Stock Spin-off Links Recent Spin-offs On October 29, 2018, Honeywell (HON) spun off, Resideo (REZI), its home products (thermostats, fire protection, etc.) and distribution business (security, fire protection, etc.) REZI has declined 30% since the spin-off. By my math, REZI trades at 7.2x 2019 EBITDA. I think a more appropropriate valuation would be [...]
Stock Spin-off Links Recent Spin-offs On September 26, 2018, Fortive’s Automation and Specialty Business, completed its merger and split off. Fortive (FTV) shareholders who elected to exchange their shares received shares in Altra Industrial Motion (AIMC). Since the split off, AIMC shares have declined ~21%. AIMC is currently trading at $32.87 and is [...]
Stock Spin-off Links Premium Service In July, I launched a premium stock spin-off service. For $29 per month, I cherry pick the most promising stock spin-off investments for your benefit. So far, I have two recommendations: First recommendation is a small cap spin-off in the real estate sector. My price target implies ~94% [...]
Stock Spin-off Links Stock Spin-off Resources Just a heads-up, I recently published an updated stock spin-off resources page. I include a bunch of information including: A one page “What is a Spin-off?” guide Links to 11 stock spin-offs studies and articles (BCG, McKinsey, Credit Suisse, J.P. Morgan and many others) You can check [...]
Stock Spin-off Links Premium Spin-offs In case you missed it, I recently launched a premium newsletter and my first recommendation. The stock is already up ~11% since I published my thesis, but plenty more upside remains. I’ve launched at the extremely affordable price of $29/month (less than a dollar per day) for a [...]
Stock Spin-off Links Recent Spin-offs There have been a ton of recent spin-offs this week. Yesterday, CorePoint Lodging (CPLG), a La Quinta (LQ) spin-off, began trading. LQ had run up after it was profiled recently at the Sohn Contest and it looks like the thesis has already played out as the spin-off, CPLG, [...]
Imminent Spin-offs La Quinta’s (LQ) spin-off, CorePoint (CPLG), will begin trading on May 31, 2018. Additional information here, here, here, and here. Euroseas’s (ESEA) spin-off, Eurodry, will begin trading on June 1, 2018. Additional information here. DXC Technology’s (DXC) spin-off, Perspecta (PRSP), will begin trading on June 1, 2018. Additional information here. Spirit Realty Capital’s (SRC) spin-off, Spirit MTA REIT (SMTA), will begin trading on June 1, [...]
Recent Spin-offs On Tuesday, May 1, nVent (NVT) began trading on the NYSE. It opened at $21 and but rallied and is currently trading in the $25 range. So much for indiscriminate selling! I think its fairly valued at current levels and wouldn’t be a buyer unless there was significant sell off. To view [...]
Here are the links I’m following in the stock spinoff and beyond world: Hamilton Beach Spinoff - Nacco Industries (Ticker: NC) spinoff Hamilton Beach (Ticker: HBB) began regular way trading on Friday, September 29th. Clark Street Value did a great job summarizing the situation. Check out his work here. Delphi: Analyzing the Upcoming Spin-off- Very [...]
Investing in Special Situations Podcast Episode – This is an episode from the Planet Microcap. The host interviews Mark Vanderwell, a full time special situations investor and member of Micro Cap Club. Mark dives into spinoffs, rights offerings, and other special situations. I found Mark’s insights into rights offerings super interesting/helpful. Nuvectra Written up on [...]
Versum Materials Spinoff – Versum (VSM) is the recent spinoff of APD, VSM focuses on specialty gases, specialty chemicals, and services and equipment to the electronics industry. There has been some insider buying of late which is always good to see. However, I don’t think the stock looks that interesting. First of all, it trades [...]
Hilton Spinoff - Clark Street Value does a nice job summarizing the Hilton Spinoff. At this point, he doesn’t see upside in shares, but his estimate of the expected value of each division is super helpful ahead of the split. TGNA Spinoff - Very interesting Seeking Alpha article on Tegna’s proposed spinoff of cars.com which [...]