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Hillman Solutions Corp. (HLMN - Free Report) acquired Koch Industries, Inc. (“Koch”), a leading provider of rope, twine, chain, wire rope and related hardware products. This move signifies Hillman's entry into the new rope and chain product category.
With the addition of rope and chain products to its current portfolio, Hillman can efficiently offer these items to its existing customer base, enhancing shipping, sourcing and service effectiveness. The recent deal further solidifies the company's relationship with its valued blue-chip customers.
Koch's 2,300 SKUs in the rope and chain category complement Hillman's existing 112,000 SKU portfolio. This strategic acquisition enables Hillman to leverage its competitive advantage and tap into growth opportunities in the new product category. Hillman plans to continue to take care of customers through its 1,100-member field sales and service team, direct-to-store shipping approach and a distinctive portfolio of owned brands.
Following the news, the company’s shares rose 0.8% in the after-hours trading session on Jan 11, 2024.
Price Performance
Share of HLMN has gained 19.1% in the past three months compared with the Zacks Building Products - Miscellaneous industry’s 22.7% rise. The company's in-store service team and direct store delivery model continue to be on trend, providing customers with solutions to minimize challenges in labor and logistics.
Image Source: Zacks Investment Research
During the third quarter of 2023, net sales increased 5.4% year over year to $398.9 million. The upside was fueled by a 4% rise in total volumes, attributed to new business wins, along with a 2% boost from price, partially offset by FX headwinds in the Canadian business.
Hardware and Protective Solutions saw significant growth in the quarter, with HS sales increasing by 8% and PS sales experiencing a robust 14% uptick. The boost in HS was fueled by the successful introduction of rope and chain accessories at a top-five customer, marking a significant new business win for Hillman.
This success is attributed to the company's commitment to customer care during challenging logistics and supply chain conditions in recent years. The flawless resetting of more than 2,000 stores by Hillman's service team played a key role in this accomplishment. The increase in PS sales was driven by heightened national promotional off-shelf activity with another top-five customer.
Zacks Rank & Key Picks
Hillman Solutions currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Construction sector:
Martin Marietta Materials, Inc. (MLM - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 37.3%, on average. Shares of MLM have increased 39.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MLM’s 2024 sales and earnings per share (EPS) suggests growth of 9.2% and 13.1%, respectively, from the year-ago period’s levels.
Armstrong World Industries, Inc. (AWI - Free Report) currently sports a Zacks Rank of 1. AWI delivered a trailing four-quarter earnings surprise of 7.9%, on average. The stock has surged 32.8% in the past year.
The Zacks Consensus Estimate for AWI’s 2024 sales and EPS indicates growth of 1.3% and 6.8%, respectively, from the previous year’s levels.
AECOM (ACM - Free Report) carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have increased 3.7% in the past year.
The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.
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Hillman Solutions (HLMN) Enters Rope & Chain Product Category
Hillman Solutions Corp. (HLMN - Free Report) acquired Koch Industries, Inc. (“Koch”), a leading provider of rope, twine, chain, wire rope and related hardware products. This move signifies Hillman's entry into the new rope and chain product category.
With the addition of rope and chain products to its current portfolio, Hillman can efficiently offer these items to its existing customer base, enhancing shipping, sourcing and service effectiveness. The recent deal further solidifies the company's relationship with its valued blue-chip customers.
Koch's 2,300 SKUs in the rope and chain category complement Hillman's existing 112,000 SKU portfolio. This strategic acquisition enables Hillman to leverage its competitive advantage and tap into growth opportunities in the new product category. Hillman plans to continue to take care of customers through its 1,100-member field sales and service team, direct-to-store shipping approach and a distinctive portfolio of owned brands.
Following the news, the company’s shares rose 0.8% in the after-hours trading session on Jan 11, 2024.
Price Performance
Share of HLMN has gained 19.1% in the past three months compared with the Zacks Building Products - Miscellaneous industry’s 22.7% rise. The company's in-store service team and direct store delivery model continue to be on trend, providing customers with solutions to minimize challenges in labor and logistics.
Image Source: Zacks Investment Research
During the third quarter of 2023, net sales increased 5.4% year over year to $398.9 million. The upside was fueled by a 4% rise in total volumes, attributed to new business wins, along with a 2% boost from price, partially offset by FX headwinds in the Canadian business.
Hardware and Protective Solutions saw significant growth in the quarter, with HS sales increasing by 8% and PS sales experiencing a robust 14% uptick. The boost in HS was fueled by the successful introduction of rope and chain accessories at a top-five customer, marking a significant new business win for Hillman.
This success is attributed to the company's commitment to customer care during challenging logistics and supply chain conditions in recent years. The flawless resetting of more than 2,000 stores by Hillman's service team played a key role in this accomplishment. The increase in PS sales was driven by heightened national promotional off-shelf activity with another top-five customer.
Zacks Rank & Key Picks
Hillman Solutions currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks from the Zacks Construction sector:
Martin Marietta Materials, Inc. (MLM - Free Report) sports a Zacks Rank #1 (Strong Buy). It has a trailing four-quarter earnings surprise of 37.3%, on average. Shares of MLM have increased 39.9% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for MLM’s 2024 sales and earnings per share (EPS) suggests growth of 9.2% and 13.1%, respectively, from the year-ago period’s levels.
Armstrong World Industries, Inc. (AWI - Free Report) currently sports a Zacks Rank of 1. AWI delivered a trailing four-quarter earnings surprise of 7.9%, on average. The stock has surged 32.8% in the past year.
The Zacks Consensus Estimate for AWI’s 2024 sales and EPS indicates growth of 1.3% and 6.8%, respectively, from the previous year’s levels.
AECOM (ACM - Free Report) carries a Zacks Rank of #2 (Buy). It has a trailing four-quarter earnings surprise of 2.1%, on average. Shares of ACM have increased 3.7% in the past year.
The Zacks Consensus Estimate for ACM’s 2024 sales and EPS indicates an increase of 4.5% and 17.5%, respectively, from the year-ago period’s levels.