RE:Supremex Q4 They may or may not beat 37 cents but that's not the key issue. Paper, envelopes, boxes, these are cyclical areas and pricing will not favour the seller forever. Don't assume that the sellers of those two companies (recently bought by Supremex) were stupid. They probably saw the cycle turning against them. And that's why they sold for what may look to be (on the surface) very reasonable prices.
That said, the people at Supremex aren't stupid either. While they know perfectly well that this is not going to be a 30% ROE story forever, they were likely looking beyond short-term pricing weakening that must surely be coming.
I think I recall that in the Q3 CC the CEO used the word "sticky" quite a bit. And that's the key thing. More important than 37 cents (or not). They've been working hard to build long-term "sticky" seller-buyer relationships that will stay profitable even during a pricing downturn.
Don't anybody delude yourself into thinking this will stay 30% ROE indefinitely. That would be like thinking the law of gravity can be overturned. But if it can ultimately come to look like a reliable, say, 14% ROE long-term story then the current $7-8 range is probably entirely reasonable.