- Price as of: Jul 01, 09:22 PM EDT
- Paper & paper products
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MWV Daily Snapshot
- Quote Time:
- Jul 01, 09:22 PM
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- Day's Range:
- $47.14 - $48.74
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- 52 Week Low / High:
- $37.28 - $55.15
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MWV Dividend Growth History
MWV Dividend History
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MWV Company Profile
MeadWestvaco Corp (MWV) provides packaging solutions to many of the world's most-admired brands in the food and beverage, media and entertainment, personal care, home and garden, cosmetics, and healthcare industries. The company has market-leading positions in its Consumer & Office Products and Specialty Chemicals businesses, and operates in more than 30 countries. MWV is headquartered in Richmond, VA.
MeadWestvaco Lowers Outlook for Food and Beverage Segment (MWV)Jun 17, 2013Packaging company, MeadWestvaco Corp. (MWV) reported on Monday that it has lowered its outlook for its Food and Beverage segment. The company announced that it now sees second quarter earnings for its Food and Beverage segment to be between $45 million and $50 million. The outlook for the segment has been lowered due to unanticipated costs and lower productivity related to start up issues at the Covington, VA paperboard mill. John A. Luke, Jr., chairman and CEO of MWR noted, “while we predicted and communicated that the planned Covington outage would impact Food & Beverage segment results, the outage itself was protracted, and after completion we continued to experience unfavorable manufacturing variances." “The mill is back to running normally and volumes in June are strong. The operational challenges related to the new system are being remediated and are expected to have minimal impact moving forward.” Luke added, “looking ahead, we continue to expect renewed earnings growth for MWV beginning in the third quarter of 2013 and earnings growth for the full year. Our growth strategies are gaining momentum, and we are seeing solid demand across our targeted markets.” MeadWestvaco shares were mostly flat during premarket trading Monday. The stock is up 12% YTD. The Bottom Line Shares of MeadWestvaco Corp. (MWV) have a 2.80% yield, based on Friday's closing price of $35.72. MeadWestvaco Corp. (MWV) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story
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MeadWestvaco Making Big Cuts to Workforce (MWV)Jan 15, 2009MeadWestvaco (MWV) shares are down slightly after announcing it will be laying off 2,000 employees or about 10 percent of its work force. The company cited lower demand for its consumer packaging and office products for its decision to cut costs. Management also announced plans to close or restructure 12 to 14 of its manufacturing locations. The Bottom Line We have been avoiding shares since our early June coverage began, when shares were trading at the $25.66 level. The company has a 8.37% dividend yield, based on last night’s closing stock price of $10.99. The company is now at all-time lows and technically have no support under the $10 level. If the stock can firm up, we see overhead resistance in the $15 area. MeadWestvaco (MWV) is not recommended at this time, holding a Dividend.com Rating of 2.9 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story
MeadWestvaco Warns about 3Q Earnings on Sluggish September Numbers (MWV)Oct 14, 2008MeadWestvaco (MWV) is lowering its business outlook for the third quarter, due to the impact of higher input cost inflation, lower volumes in the Consumer & Office Products business, and weakening demand in some packaging end markets, particularly in the month of September. Management said its combined business segment profits for the third quarter 2008 will be modestly above previous quarter levels, but below third quarter 2007 levels. The consensus estimates if for earnings of 44 cents a share. The Bottom Line We have been avoiding shares since our early June coverage began, when shares were trading at the $25.66 level. The office and school supply market took a hit this year, as consumers and businesses have tightened spending costs. The stock is getting cheaper from a valuation standpoint, but we are still cautious at this point. The company has a 4.53% dividend yield, based on last night's closing stock price of $20.31. MeadWestvaco (MWV) is not recommended at this time, holding a Dividend.com Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.Expand to read the full story