Hardinge Inc. (NASDAQ:HDNG) Stake Decreased by Algert Global LLC
Algert Global LLC cut its stake in Hardinge Inc. (NASDAQ:HDNG) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 94,572 shares of the industrial products company’s stock after selling 500 shares during the period. Algert Global LLC’s holdings in Hardinge were worth $1,175,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Deltec Asset Management LLC acquired a new position in Hardinge during the second quarter valued at approximately $161,000. Eagle Global Advisors LLC boosted its position in Hardinge by 6.5% in the second quarter. Eagle Global Advisors LLC now owns 16,853 shares of the industrial products company’s stock valued at $209,000 after buying an additional 1,030 shares during the period. Municipal Employees Retirement System of Michigan acquired a new position in Hardinge during the second quarter valued at approximately $404,000. First Manhattan Co. boosted its position in Hardinge by 431.7% in the second quarter. First Manhattan Co. now owns 36,950 shares of the industrial products company’s stock valued at $458,000 after buying an additional 30,000 shares during the period. Finally, Strs Ohio boosted its position in Hardinge by 13.8% in the second quarter. Strs Ohio now owns 49,400 shares of the industrial products company’s stock valued at $613,000 after buying an additional 6,000 shares during the period. Institutional investors and hedge funds own 71.64% of the company’s stock.
Hardinge Inc. (NASDAQ HDNG) opened at 13.97 on Thursday. Hardinge Inc. has a 1-year low of $8.24 and a 1-year high of $14.85. The company has a 50 day moving average price of $12.63 and a 200 day moving average price of $11.45. The firm has a market cap of $180.70 million, a PE ratio of 481.72 and a beta of 0.93.
Hardinge (NASDAQ:HDNG) last released its earnings results on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.12. Hardinge had a net margin of 0.94% and a return on equity of 4.61%. The business had revenue of $78.20 million during the quarter. On average, equities research analysts forecast that Hardinge Inc. will post $0.11 earnings per share for the current year.
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Several research firms recently commented on HDNG. ValuEngine upgraded Hardinge from a “hold” rating to a “buy” rating in a research note on Thursday, August 3rd. TheStreet cut Hardinge from a “c” rating to a “d+” rating in a research note on Friday, May 5th.
In related news, Director Ryan Levenson bought 20,211 shares of Hardinge stock in a transaction that occurred on Tuesday, August 8th. The stock was acquired at an average price of $14.18 per share, for a total transaction of $286,591.98. Following the completion of the purchase, the director now owns 1,632 shares in the company, valued at $23,141.76. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Richard L. Simons sold 3,900 shares of the stock in a transaction dated Wednesday, May 24th. The shares were sold at an average price of $11.87, for a total transaction of $46,293.00. Following the completion of the sale, the chief executive officer now owns 56,752 shares of the company’s stock, valued at approximately $673,646.24. The disclosure for this sale can be found here. In the last quarter, insiders purchased 178,546 shares of company stock valued at $2,560,476. 11.50% of the stock is owned by corporate insiders.
Hardinge Inc (Hardinge) is a designer, manufacturer and distributor of machine tools, specializing in precision computer numerically controlled metalcutting machines and workholding technology solutions. The Company supplies high precision computer controlled metalcutting turning machines, grinding machines, machining centers and repair parts related to those machines.
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