ITW - Why Shares in Illinois Tool Works Slumped in September
Shares in multi-industry industrial Illinois Tool Works (NYSE: ITW) fell 11.3% in September, according to data provided by S&P Global Market Intelligence . The move reflects the likelihood of pressure on ITW's profit margin from rising raw material prices and mounting supply chain issues in the economy.
Companies as diverse as FedEx , PPG Industries (supplier of paints and coatings), and ITW's industrial peer 3M have all talked of rising raw material prices that were greater than anticipated by management going into the third quarter. That's a concern for a manufacturer like ITW, which uses steel, resins, and chemicals in its plants.
Image source: Getty Images.
For further details see:
Why Shares in Illinois Tool Works Slumped in September