Mestek (OTCMKTS:MCCK) Shares Down 7.3% – Here’s Why

Mestek, Inc. (OTCMKTS:MCCK)’s share price dropped 7.3% during mid-day trading on Tuesday . The stock traded as low as $31.53 and last traded at $31.53. Approximately 3,242 shares traded hands during mid-day trading, an increase of 193% from the average daily volume of 1,105 shares. The stock had previously closed at $34.00.

Mestek Stock Performance

The company’s fifty day moving average is $33.29 and its 200-day moving average is $32.05. The company has a market capitalization of $237.86 million, a PE ratio of 2.97 and a beta of 0.55.

About Mestek

Mestek, Inc, together with its subsidiaries, manufactures and sells heating, ventilating, and air conditioning products and equipment; and metal forming equipment in the United States and internationally. The company offers equipment for heating, ventilation, and air conditioning primarily under the Lockformer, lowaPrecision, Engel, and Lion brands; roll forming and flexible fabrication equipment; metal stamping products, including uncoilers, straighteners, press feeds, and dies; and coil metal processing products, including cut-to-length, multi-blanking, and coil slitting and precision corrective levelers.