Dover Corporation’s DOV unit SWEP is opening a new large-scale propane testing facility at the SWEP Research & Development Center in Landskrona, Sweden. This development will help DOV support its customers on their journey towards more sustainable heating and cooling systems.

SWEP, a Dover subsidiary, is a world-leading supplier of brazed plate heat exchangers. SWEP has been testing propane in small and medium-sized units, but this is likely to enable in-house testing of up to XL-size units. 

This new rig is built for a wide propane envelope and will prove useful in the ongoing development of highly efficient and safe heat transfer solutions. The market demand for heating and cooling systems that operate with natural or low-GWP refrigerants has gone up due to recent policies such as the European F-Gas Regulation. 

The step toward running a large-scale propane testing facility becomes crucial to meet current and future needs for sustainable heat transfer solutions. 

The new rig is set to develop brazed plate heat exchangers for systems based on natural refrigerants to meet customers’ design requirements while helping in the transition toward more sustainable heating and cooling systems.

The development of this new rig has been undertaken as part of SWEP's Global Investment Program to strengthen long-term capacity and add new capabilities. This launch has been initiated keeping in mind adequate safety and quality measures to continue bringing expertise and closeness to its customers.

DOV Stock’s Price Performance

The DOV stock has gained 21.1% in the past year compared with the 9.2% growth of the industry.

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DOV’s Zacks Rank and Key Picks

DOV currently carries a Zacks Rank #4 (Sell).

Some better-ranked stocks in the Basic Materials space are DXP Enterprises, Inc. DXPE, Powell Industries, Inc. POWL and AptarGroup, Inc. ATR. While DXPE and POWL sport a Zacks Rank #1 (Strong Buy) each at present, ATR carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for DXPE’s current-year earnings is pegged at $4.07 per share. The company’s shares have gained 143.5% in the past year.

The Zacks Consensus Estimate for POWL’s current-year earnings is pegged at $13.70 per share. POWL surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average earnings surprise of 57.6%. The stock has gained 156.8% in the past year.

The Zacks Consensus Estimate for ATR’s current-year earnings is pegged at $5.38, indicating a year-over-year rise of 12.6%. ATR’s earnings beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 6.1%. The company’s shares have gained 26.8% in the past year.

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