Diversified Machinery Stocks in Motion -- Cummins, Ocean Power Technologies, Actuant, and Rexnord
NEW YORK, July 20, 2016 /PRNewswire/ --
Due to increased need and demand for equipment, the Diversified Machinery space has become highly competitive with growth opportunities present. Stock-Callers.com looks at how current trends are impacting these four companies under review: Cummins Inc. (NYSE: CMI), Ocean Power Technologies Inc. (NASDAQ: OPTT), Actuant Corp. (NYSE: ATU), and Rexnord Corp. (NYSE: RXN). Learn more about these stocks by accessing their free notes at:
http://stock-callers.com/registration
Cummins
Columbus, Indiana headquartered Cummins Inc.'s stock finished Tuesday's session 1.46% lower at $116.47 with a total volume of 1.54 million shares traded. The Company's shares have advanced 2.01% in the past month and 34.80% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 2.50% and 13.36%, respectively. Furthermore, shares of Cummins, which designs, manufactures, distributes, and services diesel and natural gas engines, and engine-related component products, have a Relative Strength Index (RSI) of 55.43.
On July 13th, 2016, Cummins announced that its Board of Directors has authorized an increase in the Company's quarterly cash dividend on common stock from 97.5 cents per share to $1.025 per share, payable on September 1st, 2016, to shareholders of record on August 22nd, 2016.
On July 14th, 2016, research firm Standpoint Research downgraded the Company's stock rating from 'Buy' to 'Hold'. See our complete notes on CMI at:
http://stock-callers.com/registration/?symbol=CMI
Ocean Power Technologies
On Tuesday, shares in Pennington, New Jersey headquartered Ocean Power Technologies Inc. ended the session at $7.91, soaring 23.79%. The stock recorded a trading volume of 14.13 million shares, much above its three months average volume of 1.17 million shares. The Company's shares have skyrocketed 149.53% in the last one month, 309.84% in the previous three months, and 276.67% since the start of this year. The stock is trading 178.30% above its 50-day moving average and 230.37% above its 200-day moving average. Moreover, shares of Ocean Power Technologies, which develops and commercializes proprietary systems that generate electricity by harnessing the renewable energy of ocean waves primarily in the United States, Europe, Asia, and Australia, have an RSI of 72.72.
On July 14th, 2016, Ocean Power Technologies announced the deployment of its commercial design of the PB3 PowerBuoy® approximately four miles off of the coast of New Jersey. The commercial PB3 incorporates multiple enhancements over early prototypes which the company believes allows for faster and less costly deployment. OPTT free notes are just a click away at:
http://stock-callers.com/registration/?symbol=OPTT
Actuant
Menomonee Falls, Wisconsin headquartered Actuant Corp.'s stock ended yesterday's session 0.75% lower at $23.91 and with a total volume of 220,030 shares traded. Shares of the Company, which designs, manufactures, and distributes a range of industrial products and systems worldwide, are trading 0.20% above their 200-day moving average.
On June 23rd, 2016, research firm RBC Capital Markets reiterated its 'Outperform' rating with a decrease of the target price to $27 a share from $30 a share for the Company's stock.
On July 20th, 2016, Actuant Corp. announced that its Board of Directors authorized an annual dividend of $0.04 per common share, payable on October 14th, 2016 to shareholders of record at the close of business on September 30th, 2016. Sign up for your complimentary notes on ATU at:
http://stock-callers.com/registration/?symbol=ATU
Rexnord
At the close on Tuesday, Milwaukee, Wisconsin based Rexnord Corp.'s stock recorded a trading volume of 312,665 shares and finished 0.94% lower at $21.11. The Company's shares have gained 16.50% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 2.33% and 10.07%, respectively. Furthermore, shares of Rexnord, which designs, manufactures, and markets process and motion control, and water management products worldwide, have an RSI of 58.71.
On June 23rd, 2016, research firm Robert W. Baird downgraded the Company's stock ratings from 'Outperform' to 'Neutral', issuing a target price of $22 a share.
On July 18th, 2016, Rexnord Corp. announced that it will hold a conference call and webcast presentation on August 2nd, 2016 at 7:00 a.m. Central Time to discuss its first quarter fiscal year 2017 financial results, which will be released after market close on August 1st, 2016. Register for free on Stock-Callers.com and access the latest notes on RXN at:
http://stock-callers.com/registration/?symbol=RXN
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