|Bid||136.40 x 0|
|Ask||136.45 x 0|
|Day's Range||135.20 - 137.10|
|52 Week Range||122.55 - 182.45|
|Beta (3Y Monthly)||1.32|
|PE Ratio (TTM)||13.17|
|Forward Dividend & Yield||4.25 (3.14%)|
|1y Target Est||N/A|
Building up an investment case requires looking at a stock holistically. Today I've chosen to put the spotlight on...
ABB shares jumped more than 4% on Monday as investors welcomed news the Swiss engineering group had poached Bjorn Rosengren from Swedish mining equipment firm Sandvik to be its next chief executive. Chairman Peter Voser, who has taken on CEO functions on an interim basis, said on Monday he was confident he had got the right man. "He has a great track record of empowering businesses in a decentralised way, that is what he has done at Sandvik and at his earlier businesses as well," Voser said.
Swedish engineering group Sandvik's Chief Executive Officer Bjorn Rosengren will step down next year and will join Swiss-Swedish robotics and engineering group ABB Ltd as CEO, the companies said in separate statements on Sunday. Rosengren, who has a reputation for being ruthless with underperforming divisions, will join ABB in February next year, ABB said. Businesses which generate $3 billion of revenue, 11% of ABB's total annual sales, are now under review and could be sold off or closed down, Voser told Reuters in a recent interview.
Investors in ABB welcomed the news that the Swiss engineer had recruited Swedish industrialist Bjorn Rosengren as its chief executive, with its largest shareholder hailing his record in “driving a decentralised culture”. ABB late on Sunday said that Bjorn Rosengren, chief executive of Swedish engineer Sandvik, would join the supplier of factory robots and electrical equipment next February and succeed Peter Voser at the helm on March 1. Johan Forssell, chief executive of the Wallenberg family investment vehicle that holds 11.2 per cent of the company, said Mr Rosengren “has a proven record in driving a decentralised culture, improving performance and delivering value”.
(Bloomberg) -- Sandvik AB Chief Executive Officer Bjorn Rosengren has emerged as the front-runner for the top job at Swiss engineering giant ABB Ltd., according to people familiar with the matter.An announcement could be made in the coming weeks, though ABB has yet to make a final decision, said the people, who asked not to be identified as the deliberations are private. Both companies declined to comment. ABB shares rose as much as 2.7% Tuesday, while stock in Sandvik, a maker of cutting tools and mining equipment, fell as much as 2.1%.Rosengren, 60, a seasoned Swedish industrial executive, would be taking over at ABB from Chairman Peter Voser, who has been acting as interim CEO since Ulrich Spiesshofer surprised analysts in April by abruptly stepping down. Spiesshofer was under pressure from major investors. His nearly six-year stint at the helm of ABB was marked by meager stock returns and a public row with an activist shareholder, Cevian Capital.Voser, also 60, said on a conference call last week that ABB’s CEO search was going “better than planned.” Rosengren in May seemed to hint in an interview with daily Dagens Industri that his time at Sandvik may be nearing an end, saying he didn’t think people should stay on too long at one company as CEO and that five years might be enough. He has been in the top post at the Swedish manufacturer since 2015.Should Rosengren take on the CEO role at ABB, he would land at a company in the midst of an overhaul. ABB is selling the bulk of its power grid division to Hitachi Ltd. for about $6.4 billion, turning its focus on robotics and automation. Spiesshofer had long resisted the move, which was pushed by Cevian.Rosengren, who holds a post-graduate engineering degree from Chalmers University of Technology in Gothenburg, spent his formative years at Atlas Copco AB, where he was steeped in a management culture of decentralization and asset-light production that has been emulated at other Nordic companies.Speaking at his first capital markets day after arriving at Sandvik, he made clear his unhappiness with the centralized structure built up by his predecessor.Running Businesses“During my working life, the fundamentals of how I’ve been running businesses is a decentralized model,” Rosengren said. “I am convinced that we need to give our business managers the full accountability for their businesses. They need to own their costs as well as their revenues.”In announcing Spiesshofer’s departure, Voser pledged changes to the CEO role, saying it would evolve to focus on strategy and company culture while allowing ABB’s four businesses to be run more independently.Read: ABB CEO Leaves Abruptly After Years of Pressure From InvestorsThe style has been a key component of the turnaround Rosengren accomplished at Sandvik. He rebuilt shareholder confidence by delivering on financial goals ahead of schedule, having benefited from an uptick in demand. In addition to decentralizing Sandvik’s structure and reducing costs, he has sold units including a steel conveyor-belt business, and prepared for a spinoff of the company’s steel business.Shares in Sandvik have approximately doubled since Rosengren took the helm. Earlier this month, the company said it will cut 2,000 jobs as demand from the automotive and general engineering sectors weakened toward the end of the second quarter.At ABB, he would face a company that is emerging from a period of turmoil. Just before the former CEO’s exit, shareholder Artisan Partners added to the pressure by calling for a further breakup of the company through the separation of its electrification business. The proposal was later endorsed by Cevian co-founder Lars Forberg, who sits on ABB’s board.(Adds details about Rosengren from fourth paragraph.)\--With assistance from Leonard Kehnscherper.To contact the reporters on this story: Albertina Torsoli in Geneva at firstname.lastname@example.org;Jan-Henrik Förster in Zurich at email@example.com;Niclas Rolander in Stockholm at firstname.lastname@example.orgTo contact the editors responsible for this story: Lukas Strobl at email@example.com, ;Beth Mellor at firstname.lastname@example.org, Tara Patel, John BowkerFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
A look at the shareholders of Sandvik AB (STO:SAND) can tell us which group is most powerful. Generally speaking, as a...
An owner of Uganda's only tungsten mine is suing the International Tin Association for defamation, saying the certifier wrongly accused it of trading in conflict minerals, court documents seen by Reuters show. The association's International Tin Supply Chain Initiative (ITSCI) programme, used by companies such as Apple, was introduced after the 2008 financial crisis to certify minerals in response to regulation which obliged U.S. companies to vet their supply chains. The International Tin Association's Kay Nimmo, who leads the ITSCI programme, said in an email she had no immediate comment.
Improvement in profitability and outperformance against the industry can be important characteristics in a stock for...
Swedish engineering group Sandvik is considering listing its Materials Technology (SMT) business after announcing plans on Monday to separate it from the rest of the group. SMT, Sandvik's specialty steel business, has been seen as a spin-off candidate for many years, and has lagged far behind the group's main machining solutions and mining gear units in terms of both sales and profitability. Sandvik had previously said it expected to announce its plans for SMT later this year.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Sand...
Swedish engineering group Sandvik reported a better than forecast quarterly order intake on Thursday and said demand remained strong across all its business areas, sending an upbeat signal for the Nordic industrial sector. Sandvik's metal-cutting tools are seen as a good indicator of industrial demand as they are shipped with short lead times to a wide range of customers in the engineering, automotive, aerospace and energy industries. Investors have been worrying over industrial demand in Europe and China since last year following weaker purchasing manager indices and car sales in those markets.
The size of Sandvik AB (STO:SAND), a kr213b large-cap, often attracts investors seeking a reliable investment in the stock market. Risk-averse investors who are attracted to diversified streams of revenue and strong capital returns...
Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock. This article is for th...
One simple way to benefit from the stock market is to buy an index fund. But if you choose individual stocks with prowess, you can make superior returns. For example,Read More...
Want to participate in a short research study? Help shape the future of investing tools and receive a $20 prize! Björn Klas Rosengren has been the CEO of Sandvik ABRead More...
Swedish mining equipment maker Epiroc reported quarterly order intake and underlying profitability slightly below analyst forecasts on Tuesday and said it expected near-term demand to remain at the current level. The company, spun out of industrial group Atlas Copco last year, said order intake rose to 9.47 billion Swedish crowns (797.85 million pounds) from 8.06 billion in the year-ago quarter, just below the 9.56 billion seen in a Reuters poll. Epiroc's Swedish rival Sandvik reported quarterly results just ahead of market forecasts in late January buoyed by strong demand and profitability in its mining unit.
The most recent earnings release Sandvik AB's (STO:SAND) announced in December 2018 revealed that the company benefited from a small tailwind, leading to a single-digit earnings growth of 0.08%. Below, Read More...