Diamond Hill Capital Management LLC Investment Advisor Makes New $1.70 Million Investment in Hurco Companies, Inc. $HURC

Diamond Hill Capital Management LLC Investment Advisor bought a new position in Hurco Companies, Inc. (NASDAQ:HURC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 74,349 shares of the scientific and technical instruments company’s stock, valued at approximately $1,702,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HURC. Brooklands Fund Management Ltd grew its position in Hurco Companies by 9.3% in the fourth quarter. Brooklands Fund Management Ltd now owns 305,691 shares of the scientific and technical instruments company’s stock worth $5,056,000 after acquiring an additional 26,000 shares in the last quarter. Diamond Hill Capital Management Inc. grew its position in shares of Hurco Companies by 23.3% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 70,321 shares of the scientific and technical instruments company’s stock valued at $1,086,000 after purchasing an additional 13,296 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock worth $6,082,000 after buying an additional 1,733 shares during the last quarter. Marshall Wace LLP increased its position in Hurco Companies by 180.3% during the fourth quarter. Marshall Wace LLP now owns 75,246 shares of the scientific and technical instruments company’s stock worth $1,163,000 after acquiring an additional 48,397 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Hurco Companies during the 2nd quarter worth about $561,000. 74.36% of the stock is owned by hedge funds and other institutional investors.

Hurco Companies Trading Up 0.4%

Shares of NASDAQ:HURC opened at $22.60 on Tuesday. The business has a 50-day moving average price of $22.00 and a two-hundred day moving average price of $18.46. Hurco Companies, Inc. has a 1-year low of $14.50 and a 1-year high of $23.75. The stock has a market capitalization of $146.45 million, a P/E ratio of -11.53 and a beta of 0.70.

Hurco Companies (NASDAQ:HURC) last issued its earnings results on Friday, June 5th. The scientific and technical instruments company reported ($0.37) earnings per share (EPS) for the quarter. The company had revenue of $47.62 million for the quarter. Hurco Companies had a negative return on equity of 6.37% and a negative net margin of 6.92%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Hurco Companies in a research note on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, Hurco Companies presently has a consensus rating of “Sell”.

Hurco Companies Company Profile

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.