On Friday, Trinity Industries Inc (NYSE:TRN)’s shares inclined 1.09% to $30.69.
Trinity Industries Inc (TRN) declared it has sold the assets of its partner, U.S. Galvanizing, LLC, (“USG”) to AZZ incorporated (AZZ). USG primarily provides corrosion protection services in the form of hot dip galvanizing to steel fabricators focused in the Southern United States. The business has six facilities in Texas, Mississippi and Louisiana, all of which are comprised of in the sale. Trinity assembled the current facility footprint during the past several years through a number of acquisitions.
In August of 2014, Trinity attained the assets of Meyer Steel Structures (“Meyer”), a leading manufacturer of steel structures for electricity transmission and distribution. Meyer has maintained a long-term planned supply relationship for hot dip galvanizing of its products with AZZ. As part of this divestiture, Meyer and AZZ have agreed to enhance and extend their relationship to create incremental value for both companies. Going forward, AZZ will be the primary supplier of hot dip galvanizing for Meyer.
Trinity Industries, Inc. provides various products and services for the energy, transportation, chemical, and construction sectors in the United States and internationally. Its Rail Group segment offers railcars, counting autorack, box, covered hopper, gondola, intermodal, tank, and open hopper cars; and couplers, axles, and other equipment, in addition to railcar maintenance services.
Vanda Pharmaceuticals Inc. (NASDAQ:VNDA)’s shares gained 2.97% to $12.81.
Vanda Pharmaceuticals Inc (VNDA) has shown excellent performance overall, both over the last one year in addition to over the last month. In fact, Vanda Pharmaceuticals, Inc.’s price momentum over the last month, at 20.82% has been better than that over the last year, which was 12.39%. Also from a peer group perspective, Vanda Pharmaceuticals, Inc. has performed better, since the peer group performance was 1.48% over the last month.
Company Snapshot
- From a peer analysis perspective, relative outperformance last month is up from a median performance last year.
- Vanda Pharmaceuticals Inc. trades at a lower Price/Book multiple (3.13) than its peer median (4.22).
- We classify VNDA-US as Harvesting because of the market’s relatively low growth expectations despite its relatively high returns.
- VNDA-US has relatively high profit margins while operating with median asset turns.
- The company’s year-on-year change in revenues and earnings are better than the median among its peer group.
- Over the last five years, VNDA-US‘s return on assets has improved from below median to better than the median among its peers, suggesting that the company has improved its relative operations markedly.
- The company’s relatively high pre-tax margin suggests tight control on operating costs as compared to peers.
Vanda Pharmaceuticals Inc., a biopharmaceutical company, focuses on the development and commercialization of products for the treatment of central nervous system disorders. The company’s products comprise HETLIOZ, a product for the treatment of non-24-hour sleep-wake disorder; and Fanapt, a product for the treatment of schizophrenia. Its products also comprise Tradipitant, a small molecule neurokinin-1 receptor antagonist that is under the clinical development for the treatment of chronic pruritus in atopic dermatitis; Trichostatin A, a small molecule histone deacetylase inhibitor; and AQW051, a Phase II alpha-7 nicotinic acetylcholine receptor partial agonist.
At the end of Friday’s trade, Dean Foods Co (NYSE:DF)‘s shares surged 1.13% to $17.87.
Dean Foods Co (DF) industry oversupply
Most protein price categories saw downward pressure, according to April’s Consumer Price Index (or CPI) released by the Bureau of Labor Statistics (or BLS). Dairy and associated products prices fell the most among all food categories, by 0.8% month-over-month. This was the fourth straight monthly decline.
Milk prices, the largest in the category, were down 1.2% in April contrast to March. On an annual basis, milk prices fell 6%, not seasonally adjusted. The prices of cheese and cheese products also declined in April and have been declining over the past few months.
2015 sees milk prices decline after 2014 highs
Milk prices reached record highs in 2014. But US dairy prices have been under pressure in 2015 due to higher production and declining exports. The higher US dollar has had a major impact on export sales. The ongoing Russia-Ukraine tensions of 2014 have also affected prices, since Russia banned imports of milk from several countries in reaction to Western sanctions. This created a supply glut and pressured prices.
Corporate impact
Lower milk prices affect the results of companies like Dean Foods (DF). DF stated 1Q15 results earlier this month that beat consensus Wall Street analysts’ earnings estimates primarily on lower dairy prices. It also upped guidance for the rest of the year.
Dean Foods Company, a food and beverage company processes and distributes milk, and other dairy and dairy case products in the United States. It manufactures, markets, and distributes dairy case products, counting fluid milk, ice cream, cultured dairy products, creamers, ice cream mix, and other dairy products; and produces and distributes juices, teas, and bottled water.
First Horizon National Corp (NYSE:FHN), ended its Friday’s trading session with 1.55% gain, and closed at $15.07.
First Horizon National Corp (FHN) board of directors has approved payment of a quarterly cash dividend on its common stock of $.06 per share. The dividend is payable on July 1, 2015, to the common shareholders of record on June 12, 2015.
The board of directors has also approved payment of a quarterly cash dividend of $1,550.00 per share on FHN’s Non-Cumulative Perpetual Preferred Stock, Series A (“Series A Preferred Stock”). This equates to a cash dividend of $0.387500 per Depositary Share (NYSE:FHN PrA), which each represent a 1/4000th interest in a share of the Series A Preferred Stock. The dividend is payable on July 10, 2015, to shareholders of record on June 25, 2015.
First Horizon National Corporation operates as the bank holding company for First Tennessee Bank National Association that provides various financial services in the United States and internationally. The company offers general banking services for consumers, businesses, financial institutions, and governments.
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