Milacron Holdings Corp. (MCRN) Rating Lowered to Hold at Zacks Investment Research
Milacron Holdings Corp. (NYSE:MCRN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “Milacron’s top and bottom-line improved on a year-over-year basis in the second quarter and also beat the Zacks Consensus Estimate on both counts. For fiscal 2017, the company projects organic sales growth of 0–2% and adjusted EBITDA between $219 million and $225 million. Strong order rates and backlog positions the company well to achieve 2017 guidance. Going forward, revenue growth will come from underlying market growth in key segments, geographic expansion of certain product lines, consistent penetration of hot runners, and incremental share gain from new products. Milacron's cost-reduction initiatives will help boost margins. However, pricing pressure in the APPT segment, weak industrial envirnment, impact of restructuring activities on margins remain headwinds. Milacron's shares have underperformed the industry over the past six months.”
Other research analysts have also recently issued reports about the company. BidaskClub upgraded Milacron Holdings Corp. from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 12th. Robert W. Baird set a $23.00 price objective on Milacron Holdings Corp. and gave the company a “buy” rating in a report on Wednesday, May 17th.
Milacron Holdings Corp. (NYSE MCRN) traded up 1.36% during midday trading on Wednesday, hitting $17.84. The stock had a trading volume of 185,664 shares. The company’s market cap is $1.22 billion. The firm has a 50-day moving average of $18.34 and a 200-day moving average of $18.04. Milacron Holdings Corp. has a 12-month low of $12.43 and a 12-month high of $19.57.
Milacron Holdings Corp. (NYSE:MCRN) last posted its quarterly earnings results on Thursday, July 27th. The industrial products company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.05. The business had revenue of $309.20 million during the quarter, compared to analyst estimates of $308.25 million. Milacron Holdings Corp. had a negative return on equity of 52.88% and a negative net margin of 0.57%. The business’s revenue was up .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share. Equities research analysts forecast that Milacron Holdings Corp. will post $1.62 EPS for the current year.
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In other Milacron Holdings Corp. news, Director James Gentilcore sold 15,000 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $19.14, for a total transaction of $287,100.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Ccmp Capital, Lp sold 23,138,380 shares of the company’s stock in a transaction on Tuesday, May 9th. The stock was sold at an average price of $16.51, for a total value of $382,014,653.80. The disclosure for this sale can be found here. Insiders sold 23,347,274 shares of company stock worth $385,809,800 over the last quarter. 3.40% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCRN. Bronfman E.L. Rothschild L.P. boosted its position in Milacron Holdings Corp. by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 6,297 shares of the industrial products company’s stock worth $117,000 after buying an additional 300 shares during the period. Pitcairn Co. boosted its position in Milacron Holdings Corp. by 3.5% in the second quarter. Pitcairn Co. now owns 13,292 shares of the industrial products company’s stock worth $234,000 after buying an additional 452 shares during the period. American International Group Inc. boosted its position in Milacron Holdings Corp. by 7.0% in the first quarter. American International Group Inc. now owns 8,950 shares of the industrial products company’s stock worth $167,000 after buying an additional 588 shares during the period. BNP Paribas Arbitrage SA boosted its position in Milacron Holdings Corp. by 765.3% in the second quarter. BNP Paribas Arbitrage SA now owns 5,754 shares of the industrial products company’s stock worth $101,000 after buying an additional 5,089 shares during the period. Finally, State Street Corp boosted its position in Milacron Holdings Corp. by 2.6% in the fourth quarter. State Street Corp now owns 222,615 shares of the industrial products company’s stock worth $4,144,000 after buying an additional 5,599 shares during the period. Institutional investors own 98.88% of the company’s stock.
Milacron Holdings Corp. Company Profile
Milacron Holdings Corp. is engaged in the manufacture, distribution, and service of engineered and customized systems used in the plastic technology and processing industry. The Company operates through three segments: Advanced Plastic Processing Technologies (APPT), Melt Delivery and Control Systems (MDCS), and Fluid Technologies.
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