Metaldyne Performance Group Inc (MPG) is Downgraded by BofA/Merrill to Neutral

Metaldyne Performance Group Inc (MPG) was Downgraded by BofA/Merrill to ” Neutral”. Earlier the firm had a rating of “Buy ” on the company shares. BofA/Merrill advised their investors in a research report released on Jun 21, 2016.

On the company’s financial health, Metaldyne Performance Group Inc reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.17 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.38. The company had revenue of $739.50 million for the quarter, compared to analysts expectations of $721.94 million. The company’s revenue was down -3.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.

Metaldyne Performance Group Inc opened for trading at $16.42 and hit $16.83 on the upside on Monday, eventually ending the session at $16.52, with a gain of 1.66% or 0.27 points. The heightened volatility saw the trading volume jump to 1,44,083 shares. Company has a market cap of $1,119 M.

In a different news, on Nov 3, 2015, Thomas A Amato (Co-President) sold 28,323 shares at $22.50 per share price.

Metaldyne Performance Group Inc. is a provider of components for use in engine transmission and driveline (Powertrain) and chassis suspension steering and brake component (Safety-Critical) platforms for the global light commercial and industrial vehicle markets. The Company operates in three operating segments: HHI which consists of the business of ASP HHI Holdings Inc.; Metaldyne which consists of the business of ASP MD Holdings Inc. and Grede which consists of the business of ASP Grede Intermediate Holdings LLC. The Company’s HHI segment manufactures metal-based products for the North American light vehicle market. The Company’s Metaldyne segment manufactures metal-based Powertrain products for the global light vehicle markets. The Company’s Grede segment manufactures cast machined and assembled components for the light commercial and industrial (agriculture construction mining rail wind energy and oil field) vehicle and equipment end-markets.

Metaldyne Performance Group Inc

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