HVACR Index Roars Ahead
Originally published: 05.16.17 by Margot Crabtree
Despite some geopolitical tensions, saber-rattling and surprises out of Washington, D.C., investors kept their eyes on the market and on earnings data. As our trading session ended May 15, 2017, the HVACR Business Index hit another record close.
The National Association of Realtors said that sales of existing homes jumped 4.4 percent in March, but the Commerce Department said that housing starts fell 6.8 percent in the same month. The National Association of Home Builders/Wells Fargo April builder sentiment index slid to 68, from 71 in March, and back up to 70 in May.
The Federal Reserve said that industrial production rose an overall 0.5 percent in March. The Commerce Department reported that retail sales fell 0.2 percent in March following a decline in February. The Conference Board reported that its consumer confidence index fell to 120.3 in April, from 124.9 in March.
The jobs report showed promise: the Labor Department said that employers added 211,000 jobs in April, more than twice that of March’s count. The unemployment rate dropped to 4.4 percent, near a 10-year low. The Commerce Department said that consumer spending was flat in March after being unchanged in February.
The Labor Department said that consumer prices increased 0.2 percent in April after a 0.3 percent decline in March. Wholesale prices increased by 0.5 percent in April. Department stores took a hit, showing that consumers are shifting their preferences to online stores. Shoppers put their money in cars, hardware, and online stores, as well as electronics, appliances and sporting goods.
“The best labor market in nearly thirty years should tell Fed officials that additional monetary stimulus is not required,” said Chris Rupkey, chief economist at MUFG Union Bank in New York. “We expect them to put another rate hike notch on their belts at the upcoming June meeting.”
Exchange |
Symbol |
Company Name |
Price
|
Price
|
Net
|
PercentChange |
52-Week
|
52-Week
|
Shares
|
Market
|
| NASD | AAON | AAON, Inc. | 36.60 | 33.95 | 2.65 | 7.81% | 37.75 | 25.33 | 52600 | 1925160 |
| NYSE | ABB | ABB Ltd. | 24.78 | 22.63 | 2.15 | 9.50% | 24.92 | 18.72 | 2140000 | 53029200 |
| NYSE | AOS | AO Smith Corp. | 54.00 | 49.56 | 4.44 | 8.96% | 55.41 | 39.08 | 146890 | 7932060 |
| NYSE | FIX | Comfort Systems USA, Inc. | 35.10 | 34.95 | 0.15 | 0.43% | 39.67 | 26.05 | 37120 | 1302912 |
| NYSE | DOV | Dover Corp. | 81.32 | 78.52 | 2.80 | 3.57% | 82.56 | 63.38 | 155670 | 12659084.4 |
| NASD | ELON | Echelon Corp. | 6.66 | 5.98 | 0.68 | 11.37% | 6.72 | 4.17 | 4440 | 29570.4 |
| NYSE | DD | E. I. DuPont de Nemours & Co. | 79.46 | 77.44 | 2.02 | 2.61% | 82.37 | 61.12 | 867030 | 68894203.8 |
| NYSE | EME | EMCOR Group, Inc. | 64.74 | 60.39 | 4.35 | 7.20% | 73.44 | 44.27 | 59230 | 3834550.2 |
| NYSE | EMR | Emerson Electric Co. | 58.34 | 57.87 | 0.47 | 0.81% | 64.36 | 48.45 | 644480 | 37598963.2 |
| NYSE | FCAU | Fiat Chrysler | 11.14 | 9.70 | 1.44 | 14.85% | 11.65 | 5.45 | 1540000 | 17155600 |
| NYSE | F | Ford Motor Co. | 10.94 | 11.11 | -0.17 | -1.53% | 14.04 | 10.90 | 3910000 | 42775400 |
| NYSE | GM | General Motors Co. | 33.82 | 33.39 | 0.43 | 1.29% | 38.55 | 27.34 | 1510000 | 51068200 |
| NYSE | HON | Honeywell International, Inc. | 131.98 | 122.50 | 9.48 | 7.74% | 135.00 | 105.25 | 762340 | 100613633.2 |
| NASD | HDSN | Hudson Technologies, Inc. | 8.14 | 6.51 | 1.63 | 25.04% | 8.50 | 3.09 | 41540 | 338135.6 |
| NYSE | IR | Ingersoll-Rand Plc | 88.53 | 81.86 | 6.67 | 8.15% | 90.18 | 59.10 | 256020 | 22665450.6 |
| NYSE | JCI | Johnson Controls, Inc. | 42.45 | 40.60 | 1.85 | 4.56% | 48.97 | 38.22 | 938110 | 39822769.5 |
| NYSE | LII | Lennox International Inc. | 167.88 | 165.23 | 2.65 | 1.60% | 172.96 | 131.90 | 42670 | 7163439.6 |
| NYSE | LXU | LSB Industries, Inc. | 8.68 | 7.53 | 1.15 | 15.27% | 14.50 | 4.52 | 28410 | 246598.8 |
| NYSE | MTW | Manitowoc Co., Inc. | 6.16 | 5.53 | 0.63 | 11.39% | 7.57 | 3.65 | 140540 | 865726.4 |
| NYSE | MLI | Mueller Industries, Inc. | 29.67 | 32.21 | -2.54 | -7.89% | 43.96 | 29.51 | 57600 | 1708992 |
| NYSE | NWL | Newell Rubbermaid, Inc. | 53.00 | 46.02 | 6.98 | 15.17% | 55.45 | 43.43 | 483100 | 25604300 |
| OTC | NSANY | Nissan Motor Co. Ltd. | 19.28 | 18.43 | 0.85 | 4.61% | 20.76 | 17.67 | 3910000 | 75384800 |
| NASD | OFLX | OmegaFlex, Inc. | 59.49 | 47.03 | 12.46 | 26.49% | 64.91 | 31.73 | 10090 | 600254.1 |
| NYSE | PH | Parker-Hannifin Corp. | 156.53 | 153.59 | 2.94 | 1.91% | 166.60 | 99.10 | 133180 | 20846665.4 |
| NYSE | RBC | Regal-Beloit Corp. | 78.00 | 74.05 | 3.95 | 5.33% | 83.65 | 51.57 | 44810 | 3495180 |
| NYSE | ROK | Rockwell Automation | 158.02 | 148.43 | 9.59 | 6.46% | 165.00 | 107.17 | 128840 | 20359296.8 |
| OTC | SIEGY | Siemens Aktiengesellschaft | 71.32 | 67.00 | 4.32 | 6.45% | 73.05 | 47.72 | 1620000 | 115538400 |
| NYSE | SPXC | SPX Corp. | 27.63 | 22.20 | 5.43 | 24.46% | 28.93 | 14.00 | 42390 | 1171235.7 |
| NYSE | TXN | Texas Instruments | 81.55 | 77.84 | 3.71 | 4.77% | 82.92 | 56.79 | 996320 | 81249896 |
| NYSE | UTX | United Technologies Corp. | 120.92 | 112.09 | 8.83 | 7.88% | 121.95 | 96.89 | 801230 | 96884731.6 |
| NYSE | WSO | Watsco, Inc. | 139.58 | 135.45 | 4.13 | 3.05% | 159.55 | 127.66 | 27500 | 3838450 |
|
|
Price 5/15/17 |
Price 4/13/17 |
Net Change |
Percent Change |
| HVACR Business Stock Index | 1,480.93 | 1,403.71 | 77.22 | 5.50% |
| Dow Jones Industrial Average | 20,981.94 | 20,453.25 | 528.69 | 2.58% |
| S&P 500 Index | 2,402.32 | 2,328.95 | 73.37 | 3.15% |
| NASDAQ Composite | 6,149.67 | 5,805.15 | 344.52 | 5.93% |
Gainers/Losers |
||||
| $ Gainer | OmegaFlex, Inc. | 12.46 | ||
| $ Loser | Mueller Industries, Inc. | -2.54 | ||
| % Gainer | OmegaFlex, Inc. | 26.49% | ||
| % Loser | Mueller Industries, Inc. | -7.89% | ||
| Advancers | 29 | |||
| Decliners | 2 | |||
The HVACR Business Stock Index jumped 77.22 points, or 5.50 percent, to 1480.93, another record. Advancing issues dominated declining issues by a 29-to-2 count.
OmegaFlex soared 12.46 points, or 26.49 percent. OFLX reported first quarter net income of $4.1 million, or $0.41 per share, compared to net income of $2.6 million, or $0.26 per share in the year-ago quarter. Revenue was $25.6 million, from last year’s $20.6 million. OmegaFlex closed at 59.49, and was the top dollar and percentage gainer.
Mueller Industries fell 2.54 points, or 7.89 percent. For its first quarter, MLI earned net income of $30 million, or $0.52 per share. Revenue was $577.9 million. Last year, Mueller earned net income of $28.6 million, or $0.50 per share, with revenue of $532.8 million. MLI closed at 29.67, and was the top dollar and percentage loser.
Rockwell Automation beat estimates for its fiscal second quarter earnings, and shares rose 9.59 points, or 6.46 percent. ROK said it posted earnings of $189.5 million, or $1.45 per share, versus last year’s $168 million and $1.28 per share. Adjusted for one-time items, Rockwell earned $1.55 per share. Revenue was $1.55 billion. Analysts surveyed by Zacks expected earnings of $1.45 per share and revenue of $1.48 billion. Investment firm Gabelli & Co upped its rating to “hold” from “sell.” ROK ended at 158.02.