Shufro Rose & Co. LLC Sells 2,000 Shares of Hardinge Inc. (HDNG)
Shufro Rose & Co. LLC reduced its stake in Hardinge Inc. (NASDAQ:HDNG) by 3.5% during the second quarter, Holdings Channel reports. The fund owned 55,200 shares of the industrial products company’s stock after selling 2,000 shares during the period. Shufro Rose & Co. LLC’s holdings in Hardinge were worth $686,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Rhumbline Advisers bought a new stake in Hardinge during the second quarter valued at $147,000. First Manhattan Co. increased its stake 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 last quarter. Eagle Global Advisors LLC increased its stake 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 last quarter. John G Ullman & Associates Inc. increased its stake in 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 during the last quarter. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Hardinge during the second quarter valued at $404,000. Institutional investors own 71.82% of the company’s stock.
Shares of Hardinge Inc. (HDNG) opened at 14.39 on Wednesday. Hardinge Inc. has a 52 week low of $8.24 and a 52 week high of $14.85. The firm’s 50-day moving average price is $12.83 and its 200 day moving average price is $11.55. The stock has a market capitalization of $186.34 million, a P/E ratio of 66.01 and a beta of 0.93.
Hardinge (NASDAQ:HDNG) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping 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 for the quarter. Analysts expect that Hardinge Inc. will post $0.11 earnings per share for the current year.
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HDNG has been the topic of several recent analyst reports. TheStreet downgraded Hardinge from a “c” rating to a “d+” rating in a research note on Friday, May 5th. ValuEngine upgraded Hardinge from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st.
In other news, major shareholder Fund Lp Privet purchased 86,773 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average cost of $14.39 per share, with a total value of $1,248,663.47. Following the completion of the acquisition, the insider now owns 1,632 shares of the company’s stock, valued at $23,484.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard L. Simons sold 3,900 shares of Hardinge 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 transaction, the chief executive officer now directly owns 56,752 shares in the company, valued at $673,646.24. The disclosure for this sale can be found here. Insiders acquired 178,546 shares of company stock worth $2,560,476 over the last ninety days. Corporate insiders own 11.50% of the company’s stock.
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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