London-based Pentair plc (NYSE: PNR) announced it will pay a regular quarterly cash dividend of $0.21 per share on May 6 to shareholders of record at the close of business on April 22. This year will mark the 46th consecutive year Pentair has increased its dividend, the company said. Earlier this month, Pentair announced its […]
Masonite Annual Sales Reach $2.6B
Tampa Bay-based Masonite International Corporation (NYSE: DOOR), a manufacturer and distributor of interior and exterior doors, reported full-year 2021 net sales of approximately $2.6 billion, a 15% increase over 2020. The company also reported 2021 fourth-quarter sales of $636 million, a 2.8% increase over the same period the year before. For all of 2021, net […]
Barnes Group 4Q Sales Rise 8%
Barnes Group Inc. (NYSE: B) — a Bristol, Connecticut-based international industrial and aerospace manufacturer and service provider — reported 2021 fourth-quarter sales of $311 million, up 8% from the same period a year before. For 4Q, Barnes also reported an adjusted EPS of $0.55, up 53% versus the prior-year period. Operating income was $35.4 million […]
Avnet Announces Regular Dividend
Phoenix-based global technology solutions provider Avnet, Inc. (Nasdaq: AVT) announced last week that its board of directors approved a regular quarterly cash dividend of $0.26 per share. The dividend will be paid on March 16 to shareholders of record as of the close of business on March 2. Avnet last month reported 2022 fiscal second-quarter […]
January Materials Prices Jump 20%
Prices of construction materials rose more than 20% from January 2021 to January 2022, according to an Associated General Contractors of America analysis of government data. “Unfortunately, there has been no letup early this year in the extreme cost runup that contractors endured in 2021,” said Ken Simonson, the association’s chief economist. “They are apparently […]
TriMas Declares Quarterly Dividend
TriMas (NASDAQ: TRS), a Bloomfield Hills, Michigan-based manufacturer of engineered and applied products, declared a quarterly cash dividend of $0.04 per share of TriMas Corporation stock. The quarterly dividend is payable on March 11 to shareholders of record as of the close of business on March 4. TriMas announced the initiation of a dividend as […]
GPC 2021 Sales Top $18B
Genuine Parts Company (NYSE: GPC) reported 2021 year-end sales of $18.9 billion and fourth-quarter sales of $4.8 billion. The year-end figure was 14.1% above 2020 totals, while the fourth-quarter sales figure was a 13% increase over the same quarter a year before. Net income in the fourth quarter from continuing operations was $256 million, or […]
US Foods 4Q Sales Jump 24.5%
Rosemont, Illinois-based distributor US Foods Holding Corp. (NYSE: USFD) reported 2021 fourth quarter sales of $7.6 billion, a 24.5% increase over the same quarter in 2020. US Foods also reported 2021 year-end sales of $29.5 billion, a 28.8% increase over the previous year. For 4Q, gross profit increased 23.2% to $1.2 billion, while net income […]
Fortive to Repurchase Up to 20M Shares
The board of directors for Fortive Corp. (NYSE: FTV) of Everett, Washington, has authorized a share repurchase program that will allow the company to purchase up to 20 million shares of its common stock. Under the program, Fortive can purchase its common stock on a discretionary basis “from time to time on the open market […]
SiteOne 4Q Sales Up 19%
SiteOne Landscape Supply Inc. (NYSE: SITE) of Roswell, Georgia reported 2021 fourth-quarter net sales of more than $805 million, a 19% increase over the same period in 2020. Site One’s organic daily sales for 4Q increased by 21%, while gross profit increased 27% to $282.4 million. Fourth-quarter net income increased to $27.5 million from $11.5 […]
Resideo Acquires Arrow Wire & Cable
Resideo Technologies, Inc. (NYSE: REZI) — a global provider of security solutions and commercial and residential security and audio-visual products — has acquired privately held Arrow Wire & Cable, based in Chino, California. Financial terms were not disclosed. The deal is the second datacom and security acquisition for Resideo’s ADI Global Distribution in the past […]
New Residential Construction Up in January
Privately‐owned housing units authorized by building permits in January were at a seasonally adjusted annual rate of 1,899,000, 0.75 above the revised December rate of 1,885,000 and 0.8% above the January 2021 rate of 1,883,000, according to the U.S. Census Bureau. Single‐family authorizations in January were at a rate of 1,205,000, 6.8% above the revised […]
Trade Sales and Manufacturers’ Shipments Drop in December
The combined value of distributive trade sales and manufacturers’ shipments for December 2021 — adjusted for seasonal and trading day differences but not for price changes — was estimated at $1,717.2 billion, down 0.7% from November, but was up 15.9% from December 2020, according to the U.S. Census Bureau. Manufacturers’ and trade inventories for December […]
Advance Retail, Food Services Sales Rise in January
The U.S. Census Bureau said advance estimates of retail and food services sales for January — adjusted for seasonal variation and holiday and trading-day differences but not for price changes — were $649.8 billion, an increase of 3.8% from the previous month and 13% above January 2021. Total sales for the November 2021 through January […]
Pool Corp. 4Q Sales Reach $1B
Covington, Louisiana-based Pool Corp. (Nasdaq/GSM:POOL) reported 2021 fourth-quarter sales of $1 billion, while year-end sales reached $5.3 billion. Both the 4Q and year-end sales totals were company records. The annual net sales total was 35% higher than in 2020, the company said. Pool Corp. also reported operating income of $832.8 million, up 79% from 2020, […]
Ace Hardware Yearly Revenue Up 10.7%
Oak Brook, Illinois-based Ace Hardware Corporation reported “record” 2021 fourth-quarter revenues of $2.1 billion — an increase of 0.7% over the same quarter a year ago — while total year-end revenues topped $8.6 billion. The year-end revenues were 10.7% above 2020. Full-year 2021 net income reached $330 million, an increase of 4.1% on top of […]
Wholesale Inflation Up 9.7% in January
January wholesale inflation was 9.7% higher than the same period a year ago, according to the U.S. Department of Labor’s producer price index. The PPI, a metric that measures inflation before it reaches consumers, rose 1% in January compared to the previous month. The January increase follows jumps of 0.4% in December 2021 and 0.9% […]
JGB Enterprises Rebrands as Echelon Supply and Service
Liverpool, New York-based JGB Enterprises, Inc. — a company backed by HCI Equity Partners — will now be known as Echelon Supply and Service, the company announced. The move was part of an evolving consolidation effort and comes roughly six months after the company made a key Canadian acquisition. “When JGB Enterprises acquired HosePower Canada […]
Global Industrial: Sales Up Overall Despite Down 4Q
Global Industrial Company (NYSE:GIC) of Port Washington, New York, reported consolidated sales in the fourth quarter of 2021 decreased 4.3% to $262 million compared to 2020, but overall annual sales increased 3.3% to $1.06 billion. The 4Q of 2021 had 61 selling days, five fewer days than the same quarter in 2020. Sales increased 3.5% […]
MRC Global Yearly Sales Top $2.6B
MRC Global Inc. reported 2021 year-end sales of $2.66 billion, a 4% increase over 2020. The pipes, valves and fittings distributor also reported 2021 fourth-quarter sales of $686 million, an 18% increase over the same period in 2020. For the year, adjusted EBITDA was $146 million, 5.5% of sales, a 51% improvement over 2020. In […]