Short Interest in Milacron Holdings Corp (NYSE:MCRN) Declines By 11.9%

Milacron Holdings Corp (NYSE:MCRN) saw a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,204,200 shares, a drop of 11.9% from the June 30th total of 1,367,100 shares. Based on an average daily volume of 1,280,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.8% of the company’s stock are sold short.

A number of analysts have recently issued reports on MCRN shares. Zacks Investment Research lowered Milacron from a “hold” rating to a “sell” rating and set a $15.00 target price on the stock. in a research report on Thursday, July 4th. ValuEngine raised Milacron from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Finally, Robert W. Baird lowered Milacron from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $18.00 to $17.00 in a research report on Wednesday, July 31st.

In other Milacron news, CFO Bruce A. Chalmers sold 4,993 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $16.31, for a total value of $81,435.83. Following the transaction, the chief financial officer now directly owns 247,488 shares of the company’s stock, valued at $4,036,529.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in Milacron by 47.0% during the second quarter. Victory Capital Management Inc. now owns 5,107,014 shares of the industrial products company’s stock worth $70,477,000 after purchasing an additional 1,632,985 shares in the last quarter. BlackRock Inc. raised its holdings in Milacron by 23.9% during the second quarter. BlackRock Inc. now owns 5,868,066 shares of the industrial products company’s stock worth $80,979,000 after purchasing an additional 1,133,053 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Milacron by 77.6% during the second quarter. Bank of New York Mellon Corp now owns 1,698,291 shares of the industrial products company’s stock worth $23,436,000 after purchasing an additional 741,905 shares in the last quarter. Spark Investment Management LLC bought a new stake in Milacron during the first quarter worth approximately $4,268,000. Finally, Millennium Management LLC raised its holdings in Milacron by 1,401.7% during the fourth quarter. Millennium Management LLC now owns 398,614 shares of the industrial products company’s stock worth $4,740,000 after purchasing an additional 372,070 shares in the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

MCRN stock traded up $0.06 during midday trading on Friday, reaching $15.77. The company had a trading volume of 624,900 shares, compared to its average volume of 848,071. The stock has a 50 day moving average price of $15.77 and a 200 day moving average price of $13.96. Milacron has a fifty-two week low of $11.11 and a fifty-two week high of $22.09. The firm has a market capitalization of $1.12 billion, a PE ratio of 8.86, a P/E/G ratio of 2.50 and a beta of 1.78.

Milacron (NYSE:MCRN) last issued its earnings results on Tuesday, July 30th. The industrial products company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.02. The company had revenue of $271.40 million during the quarter, compared to the consensus estimate of $281.73 million. Milacron had a negative return on equity of 66.37% and a net margin of 2.11%. Milacron’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, analysts anticipate that Milacron will post 1.36 EPS for the current fiscal year.

Milacron Company Profile

Milacron Holdings Corp. manufactures, distributes, and services engineered and customized systems within the plastic technology and processing industry in the United States and internationally. The company operates through three segments: Advanced Plastic Processing Technologies (APPT), Melt Delivery and Control Systems (MDCS), and Fluid Technologies (Fluids).

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