Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

Thematic (Sector/Industry)

<ul><li>Changes to WTR-CMI. Following the completion of Livent’s merger of equals with Allkem, the new company, with the new name Arcadium Lithium plc, is now trading under the symbols ALTM-NYSE and LTM-ASX, and has replaced LTHM in our index.</li><li>WTR-CMI last week. The S&amp;P 500 appreciated 1.2% last week, while the broader Russell 2000 managed to stay relatively flat, losing 0.3% of its value.</li><li>Our WTR-CMI Index declined 1.2%, dragged down by double-digit losses in lithium stocks and the continuing decline in the value of synthetic graphite maker EAF. </li></ul>

Changes to WTR-CMI. Following the completion of Livent’s merger of equals with Allkem, the new company, with the new name Arcadium Lithium plc, is now trading under the symbols ALTM-NYSE and LTM-ASX, and has replaced LTHM in our index.WTR-CMI last week. The S&amp;P 500 appreciated 1.2% last week, while the broader Russell 2000 managed to stay relatively flat, losing 0.3% of its value.Our WTR-CMI Index declined 1.2%, dragged down by double-digit losses in lithium stocks and the continuing decline in the value of synthetic graphite maker EAF. 

Mat-Chem Notes - For the Week Ended January 19, 2024

<ul><li>WTR-CMI last week. The third quarter ended on a down note, with the S&amp;P 500 losing 3.7% and the Russell 2000 dropping 2.7%.</li><li>Our WTR-CMI index slightly underperformed the Russell 2000, declining 3.0% for the week. Coincidently, RYAM led the performance of stocks in our index, appreciating 18% last week, as news spread of one of its main competitors in commodity markets announcing the intention to shut down a major wood pulp production plant in the US</li><li>Lithium (LAC and PLL) and ag- chem stocks (FMC and AVD) were the worst performers in our index last week on lower lithium prices and signs of slowing EV demand, and a weaker farmer outlook for 2024/25 season.</li></ul>

WTR-CMI last week. The third quarter ended on a down note, with the S&amp;P 500 losing 3.7% and the Russell 2000 dropping 2.7%.Our WTR-CMI index slightly underperformed the Russell 2000, declining 3.0% for the week. Coincidently, RYAM led the performance of stocks in our index, appreciating 18% last week, as news spread of one of its main competitors in commodity markets announcing the intention to shut down a major wood pulp production plant in the USLithium (LAC and PLL) and ag- chem stocks (FMC and AVD) were the worst performers in our index last week on lower lithium prices and signs of slowing EV demand, and a weaker farmer outlook for 2024/25 season.

Mat-Chem Notes For the Week Ended September 29, 2023

<div><div><div><div><ul style="list-style-type: disc;"><li><p>WTR-CMI last week. Last week saw the market retrench, with the S&amp;P 500 losing 1.3%, while our WTR-CMI index of 30 chemicals and materials technology stocks managed to modestly outperform the broader Russell 2000 index (-3.6%) by declining 3.4%.</p></li><li><p>Only one stock in our index, SXT, managed a positive gain for the week, appreciating 3%. FMC was the worst performer in our index, losing 12.3% of its value on a short seller’s report that the company felt obliged to address.</p></li><li><p>Ag-tech portfolio shuffles continue. Privately held DLF, a global seed company, completed the acquisition of CTVA’s alfalfa seed breeding program, which was announced last month.</p></li></ul></div></div></div></div>

WTR-CMI last week. Last week saw the market retrench, with the S&amp;P 500 losing 1.3%, while our WTR-CMI index of 30 chemicals and materials technology stocks managed to modestly outperform the broader Russell 2000 index (-3.6%) by declining 3.4%.Only one stock in our index, SXT, managed a positive gain for the week, appreciating 3%. FMC was the worst performer in our index, losing 12.3% of its value on a short seller’s report that the company felt obliged to address.Ag-tech portfolio shuffles continue. Privately held DLF, a global seed company, completed the acquisition of CTVA’s alfalfa seed breeding program, which was announced last month.

Mat-Chem Notes For the Week Ended September 8, 2023

<ul style="list-style-type: disc;"><li><p>WTR-CMI last week. In a flat to down market last week, with S&amp;P 500 holding steady with 0.1% price change and Russell 2000 losing 0.9% of its value, our proprietary WTR-CMI index of 30 chemicals and material technology companies appreciated 0.5% for the week, led by 8.5% appreciation in ALB, which seemed to pull along other lithium names, including PLL, LAC and LTHM, which all posted 2-4% returns.</p></li><li><p>EAF was the index’s laggard, losing 9.4% of its value, possibly due to continued softness in the iron ore and steel production sectors.</p></li><li><p>EU relooks at GMO crops. Long a bulwark against expansion of GMO crops, the EU is taking another look at the 2001 rules which were a major obstacle to market penetration by genetically modified seeds that provide better yields, higher nutritional value, and require less water and less pesticides to produce.</p></li></ul>

WTR-CMI last week. In a flat to down market last week, with S&amp;P 500 holding steady with 0.1% price change and Russell 2000 losing 0.9% of its value, our proprietary WTR-CMI index of 30 chemicals and material technology companies appreciated 0.5% for the week, led by 8.5% appreciation in ALB, which seemed to pull along other lithium names, including PLL, LAC and LTHM, which all posted 2-4% returns.EAF was the index’s laggard, losing 9.4% of its value, possibly due to continued softness in the iron ore and steel production sectors.EU relooks at GMO crops. Long a bulwark against expansion of GMO crops, the EU is taking another look at the 2001 rules which were a major obstacle to market penetration by genetically modified seeds that provide better yields, higher nutritional value, and require less water and less pesticides to produce.

<ul style="list-style-type: disc;"><li><p>WTR-CMI last week. In an up-week for the market, our WTR-CMI index of 30 chemical and material technology companies appreciated 4.8%, surpassing both the S&amp;P 500 and Russell 2000 returns of 2.3% and 3.7%, respectively.</p></li><li><p>FUL’s 13.2% appreciation led our index, as the company delivered strong margins in 2QFY23 (May- 23) and provided solid EBITDA guidance for the year.</p></li><li><p>The stock was also helped by FUL’s announcement of two bolt- on acquisitions, Adhezion Biomedical, a privately held medical adhesives company, and XCHEM International, a UAE specialty adhesives manufacturer with a strong position in MENA. </p></li></ul>

WTR-CMI last week. In an up-week for the market, our WTR-CMI index of 30 chemical and material technology companies appreciated 4.8%, surpassing both the S&amp;P 500 and Russell 2000 returns of 2.3% and 3.7%, respectively.FUL’s 13.2% appreciation led our index, as the company delivered strong margins in 2QFY23 (May- 23) and provided solid EBITDA guidance for the year.The stock was also helped by FUL’s announcement of two bolt- on acquisitions, Adhezion Biomedical, a privately held medical adhesives company, and XCHEM International, a UAE specialty adhesives manufacturer with a strong position in MENA. 

Mat-Chem Notes For the Week Ended June 30, 2023

United States

RPM International, Inc. manufactures, markets, and sells various specialty chemical product lines. The Company's product lines include specialty paints, protective coatings and roofing systems, sealants and adhesives, focusing on the maintenance needs of both the industrial and consumer markets.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Rpm International (RPM US)

Mat-Chem Notes - For the Week Ended January 19, 2024

WTR-CMI last week. The S&P 500 appreciated 1.2% last week, while the broader Russell 2000 managed to stay relatively flat, losing 0.3% of its value.

Water Tower Research

Mat-Chem Notes For the Week Ended September 29, 2023

WTR-CMI last week. The third quarter ended on a down note, with the S&P 500 losing 3.7% and the Russell 2000 dropping 2.7%.

Water Tower Research

Mat-Chem Notes For the Week Ended September 8, 2023

Ag-tech portfolio shuffles continue. Privately held DLF, a global seed company, completed the acquisition of CTVA’s alfalfa seed breeding program,...

Water Tower Research

Mat Chem Notes Week Ending July 9, 2023

EAF was the index’s laggard, losing 9.4% of its value, possibly due to continued softness in the iron ore and steel production sectors.

Water Tower Research

Mat-Chem Notes For the Week Ended June 30, 2023

FUL’s 13.2% appreciation led our index, as the company delivered strong margins in 2QFY23 (May- 23) and provided solid EBITDA guidance for the year.

Water Tower Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)