Kempner Capital Management Lowers stake in Dover Corp (DOV)

Dover Corp (DOV) : Kempner Capital Management reduced its stake in Dover Corp by 3.61% during the most recent quarter end. The investment management company now holds a total of 29,412 shares of Dover Corp which is valued at $2,167,076 after selling 1,100 shares in Dover Corp , the firm said in a disclosure report filed with the SEC on Oct 4, 2016.Dover Corp makes up approximately 1.49% of Kempner Capital Management’s portfolio.

Other Hedge Funds, Including , Washington Trust Bank reduced its stake in DOV by selling 440 shares or 21.38% in the most recent quarter. The Hedge Fund company now holds 1,618 shares of DOV which is valued at $119,214. Dover Corp makes up approx 0.03% of Washington Trust Bank’s portfolio.

Dover Corp closed down -0.91 points or -1.24% at $72.61 with 13,43,645 shares getting traded on Tuesday. Post opening the session at $73.61, the shares hit an intraday low of $72.24 and an intraday high of $73.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Dover Corp reported $0.88 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $0.86. The company had revenue of $1686.35 million for the quarter, compared to analysts expectations of $1717.11 million. The company’s revenue was down -4.1 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.98 EPS.

Dover Corporation (Dover) is engaged in the manufacturing of equipment components and specialty systems. The Company also provides supporting engineering testing and other services. The Company operates through four business segments: Energy Engineered Systems Fluids and Refrigeration & Food Equipment. The Energy segment serves the Drilling & Production Bearings & Compression and Automation end markets and provides solutions and services for production and processing of oil natural gas liquids and gas around the world. The Engineered Systems segment manages its products and services through two business platforms Printing & Identification and Industrials. The Fluids segment is focused on the handling of critical fluids across the retail fueling chemical hygienic and industrial markets. The Refrigeration & Food Equipment segment provides equipment and systems serving the commercial refrigeration and food service industries.

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