Industrial Stocks Under Pressure Amid Market Volatility

Strategic Insights -

As of Friday, Oct. 23, 2015, at 12:55 PM ET, the Dow Jones Industrial Average (^DJI) traded up 110 points (0.6%) at 17,599. The NYSE advances/declines ratio sits at 1,623 issues advancing vs. 1,358 declining with 148 unchanged. The Industrial industry currently sits down 0.2% versus the S&P 500, which is up 0.8%. Among the companies in the industry, Emerson Electric (EMR) fell today, while Nidec (NJ), ABB (ABB), Royal Philips (PHG), and Illinois Tool Works (ITW) led the gains.

Key Takeaways:

  • Stratasys (SSYS) was one of the companies pushing the Industrial industry lower today, with a 12.3% drop to $27.07, resulting in 2.8 million shares traded, exceeding its average daily volume.
  • Mohawk Industries (MHK) was another industrial stock under pressure, down 1.1% to $194.02 on light volume, with 258,562 shares traded, compared to its average daily volume of 798,800 shares.
  • Danaher (DHR) was also trading lower, down 1.3% to $92.80, with 2.4 million shares traded, near its average daily volume of 3.5 million shares.
  • Stratasys has a market cap of $1.5 billion and is part of the technology sector, with shares down 62.9% year-to-date as of Thursday's close.
  • Mohawk Industries has a market cap of $14.4 billion and is part of the consumer goods sector, with shares up 26.3% year-to-date as of Thursday's close.
  • Among the analysts covering Stratasys, 9 rate it a buy, 2 rate it a sell, and 9 rate it a hold.
  • Among the analysts covering Mohawk Industries, 6 rate it a buy, no analysts rate it a sell, and 1 rate it a hold.
  • TheStreet Ratings rates Stratasys as a sell and Mohawk Industries as a buy.
  • Stratasys' weaknesses include deteriorating net income, disappointing return on equity, weak operating cash flow, and feeble growth in its earnings per share.

Statistics:

  • The Dow Jones Industrial Average (^DJI) traded up 110 points (0.6%) to 17,599.
  • The NYSE advances/declines ratio was 1,623 issues advancing vs. 1,358 declining with 148 unchanged.
  • Stratasys (SSYS) dropped 12.3% to $27.07, resulting in 2.8 million shares traded.
  • Mohawk Industries (MHK) fell 1.1% to $194.02, with 258,562 shares traded.
  • Danaher (DHR) was down 1.3% to $92.80, with 2.4 million shares traded.
  • Stratasys has a market cap of $1.5 billion and is part of the technology sector.
  • Mohawk Industries has a market cap of $14.4 billion and is part of the consumer goods sector.

Sources:

  • TheStreet.com
  • Yahoo Finance
  • Bloomberg.com
  • SEC Filings for Stratasys Ltd. and Mohawk Industries Inc.