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HVACR Stock Index Bucks Trend, Turns Positive

Originally published: 02.17.16 by Margot Crabtree


Last-ditch rallies bookended our session but the month was dismal and not buoyant enough to turn most indices positive. As our trading session ended Feb. 15, 2015, a rally in beat-down energy prices and financials lifted Wall Street.

The National Association of Realtors said that home sales bounced back in December, with sales of existing homes up 14.7 percent. However, the Commerce Department said that housing starts fell in December by 2.5 percent. Even so, total sales for 2015 were the highest in nine years.

The University of Michigan's consumer sentiment index fell in January, down to 92 from an earlier 92.6, blamed on a deterioration in household economies and poorer prospects for the U.S. economy. As February began, the Nasdaq closed at its lowest level since October 2004.

The Labor Department said that productivity fell 3 percent in 2015's fourth quarter, the largest quarterly drop in almost two years. The Commerce Department said that factory orders slid 2.9 percent in December, the fourth decrease in five months. The Institute for Supply Management's index of factory activity rose in January, to 48.2 from 48 in December; any number below 50 indicates contraction. The index has been reflecting shrinkage since September.


The Commerce Department reported that retail sales grew by 0.2 percent in January, and December's figures were revised upward. The National Retail Federation expects sales to be above average in 2016, built on stronger hires and wages and lower gas prices. Despite the apparent global slowdown, Fed chief Yellen reiterated her confidence in the strength of the U.S. economy. This optimism was not reflected in the markets, where materials and oil continued to weigh heavily.

"A lot of people are having trouble assessing the true value of stocks," said J.J. Kinahan, TD Ameritrade's chief strategist. "What it says to me is we're going to continue with volatility."

 

Exchange
Symbol
Company Name
Price
2/15/16
Price
1/15/16
Net
Change
Percent
Change
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 20.64 19.83 0.81 4.08% 25.34 18.85 54090 1116417.6
NYSE ABB ABB Ltd. 17.03 16.06 0.97 6.04% 23.66 15.74 2190000 37295700
NYSE ARG Airgas, Inc. 140.10 138.30 1.80 1.30% 140.50 86.09 72430 10147443
NYSE AOS AO Smith Corp. 65.81 63.51 2.30 3.62% 81.15 50.09 74890 4928510.9
NYSE FIX Comfort Systems USA, Inc. 25.55 28.09 -2.54 -9.04% 35.00 16.40 37290 952759.5
NYSE DOV Dover Corp. 59.19 52.90 6.29 11.89% 78.21 50.91 155010 9175041.9
NASD ELON Echelon Corp. 5.43 5.15 0.28 5.44% 12.10 4.71 4420 24000.6
NYSE DD E. I. DuPont de Nemours & Co. 58.40 54.09 4.31 7.97% 76.59 47.11 871680 50906112
NYSE EME EMCOR Group, Inc. 44.32 43.66 0.66 1.51% 52.37 40.98 62720 2779750.4
NYSE EMR Emerson Electric Co. 46.02 43.09 2.93 6.80% 62.75 41.25 643120 29596382.4
NYSE FCAU Fiat Chrysler 6.11 7.34 -1.23 -16.76% 11.24 5.78 1290000 7881900
NYSE F Ford Motor Co. 11.55 11.97 -0.42 -3.51% 16.74 10.44 3900000 45045000
NYSE GM General Motors Co. 27.71 29.57 -1.86 -6.29% 38.99 24.62 1540000 42673400
NYSE HON Honeywell International, Inc. 103.48 97.26 6.22 6.40% 107.41 87.00 769320 79609233.6
NASD HDSN Hudson Technologies, Inc. 2.91 2.77 0.14 5.05% 4.75 2.45 32800 95448
NYSE IR Ingersoll-Rand Plc 51.32 51.74 -0.42 -0.81% 70.93 47.08 261050 13397086
NYSE JCI Johnson Controls, Inc. 34.81 34.71 0.10 0.29% 54.52 33.62 648240 22565234.4
NYSE LII Lennox International Inc. 119.50 115.77 3.73 3.22% 138.57 103.58 45060 5384670
NYSE LXU LSB Industries, Inc. 5.05 5.20 -0.15 -2.88% 47.33 3.68 22810 115190.5
NYSE MTW Manitowoc Co., Inc. 14.97 12.83 2.14 16.68% 22.91 11.73 136590 2044752.3
NYSE MLI Mueller Industries, Inc. 25.40 23.83 1.57 6.59% 37.18 23.09 57160 1451864
NYSE NWL Newell Rubbermaid, Inc. 34.79 37.13 -2.34 -6.30% 50.90 33.26 267200 9295888
OTC NSANY Nissan Motor Co. Ltd. 17.07 18.41 -1.34 -7.28% 21.92 16.57 2100000
NASD NTK Nortek, Inc. 35.88 37.52 -1.64 -4.37% 92.96 33.85 16260 583408.8
NASD OFLX OmegaFlex, Inc. 33.18 29.00 4.18 14.41% 43.20 23.50 10090 334786.2
NYSE PH Parker-Hannifin Corp. 97.25 87.99 9.26 10.52% 125.94 83.32 135100 13138475
NYSE RBC Regal-Beloit Corp. 50.61 52.27 -1.66 -3.18% 81.36 47.77 44660 2260242.6
NYSE ROK Rockwell Automation 96.33 91.68 4.65 5.07% 127.05 87.53 131420 12659688.6
OTC SIEGY Siemens Aktiengesellschaft  90.80 88.83 1.97 2.22% 114.20 86.58 807730 73341884
NYSE SPXC SPX Corp.  8.80 8.01 0.79 9.86% 22.81 7.62 40800 359040
NYSE TXN Texas Instruments 51.14 48.03 3.11 6.48% 59.99 43.49 1010000 51651400
NYSE UTX United Technologies Corp. 85.95 85.63 0.32 0.37% 124.45 83.39 836430 71891158.5
NYSE WSO Watsco, Inc. 124.22 109.85 14.37 13.08% 133.09 106.58 27610 3429714.2

 

The HVACR Business Stock Index rose 10.06 points, or 1 point even, and closed at 1020.90. Advancing issues topped declining issues at a 23-to-10 count.

Watsco soared 14.37 points, or 13.08 percent on strong earnings that beat estimates. For its fourth quarter, WSO posted net income of $24.4 million, or $0.75 per share, versus last year's $0.69 per share. Revenue was $903.8 million, up 3.1 percent from a year ago. Analysts expected earnings of $0.72 per share. Investment firm Stifel Nicolaus upped its price target on Watsco to $136, from $122. WSO ended at 124.22, and was the top dollar gainer.

Comfort Systems fell 2.54 points, or 9.04 percent. The company said that it has acquired the ShoffnerKalthoff group of companies for an undisclosed amount. The acquisition is expected to contribute $70 million in annual revenue. FIX ended at 25.55, and was the top dollar loser.

Manitowoc rose 2.14 points, or 16.68 percent after it bested analysts' expectations for fourth quarter earnings. MTW reported net income of $43.8 million, or $0.32 per share. Adjusted for one-time items, earnings were $0.43 per share. Sales fell 9.9 percent, to $934.8 million. Analysts polled by Zacks expected earnings of $0.20 per share and revenue of $938.8 million. MTW closed at 14.97, and was the top percentage gainer.

 


Margot Crabtree is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit  www.tradetrendsonline.com

 




About Margot Crabtree

Margot is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit tradetrendsonline.com.

 

 




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