The stock of consumer products company Church & Dwight Co., Inc. (NYSE:CHD) performed well in the quarter. The company showed strong organic growth in both its domestic and international consumer lines. A tough environment with higher commodity and transportation costs reduced gross margins, but the company announced price increases on approximately a third of its products, which should help relieve cost pressures next year. Additionally, investors have favored the reliability of Church & Dwight’s sales and earnings given the current volatility in the broader market.
From Ron Baron (Trades, Portfolio)'s fourth-quarter 2018 Baron Growth Fund shareholder letter.
