Shares of Milacron Holdings Corp (NYSE:MCRN) rose 2.5% during mid-day trading on Wednesday following a better than expected earnings announcement. The stock traded as high as $20.63 and last traded at $20.96. Approximately 278,204 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 398,627 shares. The stock had previously closed at $20.45.
The industrial products company reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.08. The firm had revenue of $324.90 million during the quarter, compared to analyst estimates of $302.91 million. Milacron had a net margin of 0.09% and a negative return on equity of 58.67%. Milacron’s revenue was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 EPS.
Several research firms have recently weighed in on MCRN. Zacks Investment Research lowered shares of Milacron from a “buy” rating to a “hold” rating in a research report on Thursday. TheStreet lowered shares of Milacron from a “b” rating to a “c” rating in a research report on Friday, January 26th. ValuEngine upgraded shares of Milacron from a “buy” rating to a “strong-buy” rating in a research report on Tuesday. Finally, BidaskClub lowered shares of Milacron from a “buy” rating to a “hold” rating in a research report on Tuesday, November 14th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $22.00.
In other Milacron news, insider Ronald M. Krisanda sold 10,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $18.24, for a total transaction of $182,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Bruce A. Chalmers sold 8,600 shares of the company’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $18.18, for a total transaction of $156,348.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 153,355 shares of company stock valued at $2,842,739. Insiders own 3.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of MCRN. Alliancebernstein L.P. lifted its stake in Milacron by 307.5% during the second quarter. Alliancebernstein L.P. now owns 54,600 shares of the industrial products company’s stock valued at $960,000 after buying an additional 41,200 shares in the last quarter. Teachers Advisors LLC lifted its stake in Milacron by 227.1% during the second quarter. Teachers Advisors LLC now owns 80,791 shares of the industrial products company’s stock valued at $1,421,000 after buying an additional 56,091 shares in the last quarter. TIAA CREF Investment Management LLC lifted its stake in Milacron by 315.1% during the second quarter. TIAA CREF Investment Management LLC now owns 150,678 shares of the industrial products company’s stock valued at $2,650,000 after buying an additional 114,375 shares in the last quarter. PNC Financial Services Group Inc. purchased a new stake in Milacron during the second quarter valued at about $186,000. Finally, UBS Asset Management Americas Inc. purchased a new stake in Milacron during the second quarter valued at about $201,000.
The company has a debt-to-equity ratio of -5.41, a quick ratio of 1.31 and a current ratio of 2.39. The firm has a market capitalization of $1,520.00 and a P/E ratio of -182.75.
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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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