credit / rates affecting interest expense
“Interest expense increased in the first quarter of 2026 compared to the first quarter of 2025, driven by higher outstanding debt balances, partially offset by lower interest rates.”
MOG-A 10-Q
Confirmed
Industrial Construction Equipment
17 names are moving together; 71% are participating in the current session.
4 observed Confirmed episodes
Co-movement
Observed member paths adjusted against SPY. Shading marks the latest observation window.
Members
| TICKER | Company | Sector | Today | Observed activity |
|---|---|---|---|---|
| ZWS | Zurn Elkay Water Solutions Corp | Industrials | -0.8% | Group member |
| IR | Ingersoll Rand Inc. | Industrials | -0.3% | Group member |
| WNC | Wabash National Corporation | Industrials | +1.3% | 1/10 observed active sessions |
| FSS | Federal Signal Corporation | Industrials | +1.4% | 3/10 observed active sessions |
| CNM | Core & Main, Inc. | Industrials | -2.5% | Group member |
| FERG | Ferguson Enterprises Inc. | Industrials | +2.6% | 3/10 observed active sessions |
| LII | Lennox International, Inc. | Industrials | -0.1% | 1/10 observed active sessions |
| CARR | Carrier Global Corporation | Industrials | -1.0% | Group member |
| TRN | Trinity Industries, Inc. | Industrials | +2.2% | 1/10 observed active sessions |
| NDSN | Nordson Corporation | Industrials | -0.1% | 3/10 observed active sessions |
| MOG-A | Moog Inc. | Industrials | -3.7% | 3/10 observed active sessions |
| CSW | CSW Industrials, Inc. | Industrials | +0.6% | 2/10 observed active sessions |
| IEX | IDEX Corporation | Industrials | -0.4% | 3/10 observed active sessions |
| AIT | Applied Industrial Technologies | Industrials | -0.5% | 2/10 observed active sessions |
| OSK | Oshkosh Corporation (Holding Co | Industrials | -0.4% | 1/10 observed active sessions |
| MSA | MSA Safety Incorporated | Industrials | -1.1% | 3/10 observed active sessions |
| URI | United Rentals, Inc. | Industrials | -0.9% | 1/10 observed active sessions |
Why we believe this
Cohort
17 namesParticipation
71% this sessionObserved history
19 daily buildsFiling coverage
17/17 membersdemand / volume
“Higher demand for components for both satellites and defense applications, including missiles, was partially offset by timing of activity on spacecraft vehicles and turrets.”
MOG-A 10-K
credit / rates
“These were partially offset by $70 million of net borrowings on our credit facilities.”
MOG-A 10-K
This identity theme becomes less useful if activity narrows to one or two names instead of remaining broad across the cohort.
Connected, outside the group
GATX
TRNcustomer · Not moving with the group now
Filing receipt · GATX / TRN
“In 2022, we entered into a long-term railcar supply agreement with a subsidiary of Trinity Industries, Inc.”
TRN · customer
WMS
FERGcustomer · Not moving with the group now
Filing receipt · WMS / FERG
“Ferguson Enterprises (“Ferguson”) accounted for 13.1% and Core & Main, Inc.”
FERG · customer
WTS
AITsupplier · Not moving with the group now
Filing receipt · WTS / AIT
“Applied Industrial Technologies is a distributor of bearings, power transmission products, fluid power components and other industrial supplies and provides engineering,…”
AIT · supplier
AWI
LIIsupplier · Not moving with the group now
Filing receipt · AWI / LII
“The Allied Air Enterprise business and brands (“Armstrong Air,” “AirEase,” “Concord,” “Ducane,” “Allied,” and “MagicPak”) include a full line of heating, ventilation and…”
LII · supplier
F
TRNcustomer · Not moving with the group now
Filing receipt · F / TRN
“From 2006 to 2016, he served in several operational roles of increasing responsibility for Ford Motor Company.”
TRN · customer
History
2026-07-131 observed active session · 100% of active names held across the episode
2026-07-071 observed active session · 100% of active names held across the episode
2026-06-24 → 2026-07-026 observed active sessions · 0% of active names held across the episode
2026-06-17 → 2026-06-182 observed active sessions · 0% of active names held across the episode