Morgan Dempsey Capital Management LLC Sells 2,960 Shares of Hardinge Inc. (HDNG)
Morgan Dempsey Capital Management LLC lowered its stake in shares of Hardinge Inc. (NASDAQ:HDNG) by 4.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 68,015 shares of the industrial products company’s stock after selling 2,960 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Hardinge were worth $845,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. First Manhattan Co. raised its position in shares of 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 in the last quarter. Eagle Global Advisors LLC raised its position in shares of 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 in the last quarter. John G Ullman & Associates Inc. raised its position in shares of Hardinge by 48.7% in the second quarter. John G Ullman & Associates Inc. now owns 182,612 shares of the industrial products company’s stock valued at $2,268,000 after buying an additional 59,802 shares in the last quarter. Municipal Employees Retirement System of Michigan purchased a new position in shares of Hardinge during the second quarter valued at approximately $404,000. Finally, Strs Ohio raised its position in shares of 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 in the last quarter. 71.64% of the stock is owned by institutional investors and hedge funds.
Hardinge Inc. (NASDAQ HDNG) opened at 13.97 on Thursday. Hardinge Inc. has a one year low of $8.24 and a one year high of $14.85. The stock’s 50 day moving average price is $12.63 and its 200 day moving average price is $11.45. The company has a market capitalization of $180.70 million, a P/E ratio of 481.72 and a beta of 0.93.
Hardinge (NASDAQ:HDNG) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.12. The firm had revenue of $78.20 million during the quarter. Hardinge had a return on equity of 4.61% and a net margin of 0.94%. Equities analysts anticipate that Hardinge Inc. will post $0.11 EPS for the current fiscal year.
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Several brokerages have commented on HDNG. ValuEngine raised Hardinge from a “hold” rating to a “buy” rating in a research report on Thursday, August 3rd. TheStreet lowered Hardinge from a “c” rating to a “d+” rating in a research report on Friday, May 5th.
In related news, CEO Richard L. Simons sold 3,900 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was 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 directly owns 56,752 shares in the company, valued at approximately $673,646.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Fund Lp Privet acquired 86,773 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were bought at an average price of $14.39 per share, with a total value of $1,248,663.47. Following the completion of the purchase, the insider now directly owns 1,632 shares in the company, valued at $23,484.48. The disclosure for this purchase can be found here. Insiders have purchased a total of 178,546 shares of company stock valued at $2,560,476 over the last 90 days. 11.50% of the stock is currently owned by company 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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