Upcoming AWS Coverage on Ingersoll-Rand Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 18, 2017 / Active Wall St. blog coverage looks at the headline from AMETEK, Inc. (NYSE: AME) and MOCON, Inc. (NASDAQ: MOCO). AMETEK announced on April 17, 2017, that it has entered into a definitive agreement with MOCON pursuant to which, AMETEK will acquire all of the outstanding shares of MOCON's common stock at a price of $30 per share in cash. The price represents a 30% premium to MOCON's closing share price on April 13, 2017. Accounting MOCON's outstanding equity awards and net cash, the aggregate enterprise value of the transaction is about $182 million. Register with us now for your free membership and blog access at: http://www.activewallst.com/register/.

One of AMETEK's competitors within the Diversified Machinery space, Ingersoll-Rand PLC (NYSE: IR), announced on March 31, 2017, that it will release its 2017 Q1 financial results on Wednesday, April 26, 2017, at 6:30 a.m. ET. AWS will be initiating a research report on Ingersoll-Rand in the coming days.

Today, AWS is promoting its blog coverage on AME and MOCO; touching on IR. Get all of our free blog coverage and more by clicking on the link below: http://www.activewallst.com/register/.

Breaking down the Agreement

AMETEK is executing this agreement owing to multiple synergies with MOCON. MOCON, founded in 1963, and headquartered in Minneapolis, is the leading provider of laboratory and field gas analysis instrumentation to research laboratories, production facilities, and quality control departments in food and beverage, pharmaceutical, and industrial applications.

MOCON's net income has observed a massive surge of about 68% to reach $5 million, or 86 cents per share in FY16, on revenue that increased 4%, to $63.3 million in FY16. MOCON's portfolio includes products for the customer packaged goods industry and includes an instrument to flush packages with an inert gas that extends the shelf life of the edible product without using preservatives.

Synergic Transaction

Both AMETEK and MOCON are the global leader in gas analysis instrumentation for package and permeation testing. The products and technologies from MOCON complement the Company's existing gas analysis instrumentation portfolio and offer multiple opportunities to expand into the growing food and pharmaceutical package testing market.

MOCON is the latest small-capitalization firm to be acquired in an environment of disappearing small-cap Companies. The number of Minnesota publically held companies has been declining as larger Companies and private-equity consolidators buy growth, often cheap debt to finance deals through acquisitions.

AMETEK's Growth Strategy

AMETEK has made multiple significant acquisitions lately, including November 01, 2016, acquisition of Laserage Technology Corporation, a provider of Laser fabrication services for the medical devices market. The privately-held Company reported net annual sales of $22 million and joined AMETEK's Electromechanical Group (EMG).

Recently, on February 07, 2017, the Company announced the acquisition of Rauland-Borg Corporation. Rauland-Borg was acquired under AMETEK's Electronic Instruments Group (EIG) for about $340 million, with $30 million in potential contingent payment upon achievement of certain milestones. This acquisition was viewed by AMETEK as a step into a new growth segment, i.e., the medical technology market.

The closing of the transaction is subject to customary closing conditions, including the approval of MOCON's shareholders and applicable regulatory approvals. The transaction is expected to be completed in Q2 or Q3 of the calendar year, 2017.

Stock Performance

At the close of trading session on Monday, April 17, 2017, AMETEK's stock price climbed 1.45% to end the day at $53.97. A total volume of 1.17 million shares were exchanged during the session. The Company's share price has gained 7.60% in the past twelve months and 11.24% on YTD basis. The Company's shares are trading at a PE ratio of 24.64 and have a dividend yield of 0.67%. Additionally, the stock currently has a market cap of $12.41 billion.

Last Monday, the stock closed the trading session at $29.70, soaring 37.18% from its previous closing price of $21.65. A total volume of 1.17 million shares have exchanged hands, which was higher than the 3-month average volume of 10.09 thousand shares. MOCON's stock price surged 58.82% in the last three months, 94.88% in the past six months, and 102.04% in the previous twelve months. Furthermore, on a year to date basis, the stock gained 52.31%. Shares of the company have a PE ratio of 34.74.

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SOURCE: Active Wall Street