2 Warren Buffett Stocks To Buy In March
Item like these corbels make perfect shelf brackets. I have three points that should make investors feel more bullish. Once you have the door picked out you can either make the legs or buy pre-made wood or metal legs that best suit your project. The next day I picked up a tall pair of hairpin legs on amazon slapped them on the bottom of the piece of wood. Just pair them with an old piece of wood and you’re done. I found an old structural wood beam in my shop and decided I needed to display it somewhere in my offices. Usually I’m showing you how to restore your old house, but sometimes I like to get creative and reuse some of the myriad of leftover building materials I come across as a restoration contractor. It can be as easy as getting a great deal on a piece of furniture at the local antique fair, but to create the truly eye-catching conversation pieces it requires re-thinking the materials you have into something unique and special.
I washed the dirt off the wood with a garden hose and scrub brush then sanded it enough to smooth out the roughness but keep as much patina (patina is my favorite color after all!) and then added four coats of my special wood finish and left it dry. The natural patina that wood gets as it ages gives it such a rich look that it makes almost any project feel warm and inviting. Throw in a bleak outlook for light vehicle and truck production in 2020 and it doesn’t look good for the transportation coatings segment. Moreover, the performance segment (refinish and industrial) EBIT margin is in the mid-teens compared to mid-single digits for the transportation segment. Indeed, transportation coatings sales were down 7.7% in the fourth quarter on a constant currency basis, and a 12.2% decline in industrial sales also dragged the performance coatings segment into a 2.8% sales decline as well. The table below shows how deteriorating trends in the fourth quarter led to a decline in adjusted earnings before interest and taxation, or EBIT, in transportation coatings. Trading on a forward P/E ratio of around 12 times earnings and a current-price-to-FCF multiple only a little above that, paintings and coatings company Axalta is a cheap stock on a superficial basis.
In fact, fourth-quarter and full-year profit both rose because of margin improvements driven by lower fixed costs, lower raw material costs, and a shift in sales to higher-margin coatings sales. The latter is problematic because it implies lower margins and less free cash flow (FCF) generation due to heightened capital expenditures. Total figures don’t tally with segment due to depreciation and amortization expenses associated with an acquisition. Finally, UPS FCF guidance of $4.3 billion to $4.7 billion puts the stock on a forward-price-to-FCF multiple of 17.3 times and a dividend yield of 4.5%. If you don’t believe that the coronavirus will significantly impact growth in 2020, then UPS is looking like a very good value. The charts below show how capex as a share of revenue has increased and operating margin has gone nowhere for UPS and FedEx in the past few years. So, I’ve put together some salvaged projects that I or some of my friends have created over the last few years that might give you some inspiration to get your creative juices flowing.
The bad news out of the way, it’s a good idea to put some context around Axalta’s prospects. Of course, you could buy some hairpins legs on amazon and put them on all the same, but Mark wanted to keep every piece of the table historic even down to the reclaimed screws he used. Add some decorative lettering by one of my long time employees, Karen, and a couple salvaged hardware finger lifts turned upside down so they can hang their coats or bags and you’ve got a salvaged window message center! Let me know if you have any other projects that’s you’ve done that you might want to see me attempt making in my shop. So, I decided to jazz up my wine fridge by turning some of the salvaged glass door knobs I have floating around my shop into reusable wine stoppers. He had the simple idea to refinish the door and then add some hairpin legs he also salvaged.