Van ECK Associates Corp Has $29.63 Million Holdings in CNH Industrial NV (CNHI)
Van ECK Associates Corp raised its stake in shares of CNH Industrial NV (NASDAQ:CNHI) by 1.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,603,998 shares of the company’s stock after purchasing an additional 43,446 shares during the period. Van ECK Associates Corp owned 0.19% of CNH Industrial NV worth $29,633,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. TIAA CREF Investment Management LLC grew its holdings in CNH Industrial NV by 51.7% during the second quarter. TIAA CREF Investment Management LLC now owns 5,986,648 shares of the company’s stock valued at $68,128,000 after purchasing an additional 2,040,505 shares during the last quarter. Teachers Advisors LLC grew its holdings in CNH Industrial NV by 14.0% during the second quarter. Teachers Advisors LLC now owns 1,459,857 shares of the company’s stock valued at $16,613,000 after purchasing an additional 179,717 shares during the last quarter. CIBC World Markets Inc. acquired a new position in CNH Industrial NV during the second quarter valued at approximately $2,022,000. Engineers Gate Manager LP acquired a new position in CNH Industrial NV during the second quarter valued at approximately $2,134,000. Finally, Schroder Investment Management Group acquired a new position in CNH Industrial NV during the second quarter valued at approximately $6,879,000.
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Shares of CNH Industrial NV (CNHI) opened at 11.976 on Thursday. CNH Industrial NV has a 52 week low of $6.93 and a 52 week high of $12.13. The firm has a market cap of $16.34 billion and a P/E ratio of 38.632. The stock has a 50 day moving average of $11.41 and a 200 day moving average of $10.94.
CNH Industrial NV (NASDAQ:CNHI) last posted its quarterly earnings results on Wednesday, July 26th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $6.95 billion for the quarter, compared to the consensus estimate of $7.07 billion. CNH Industrial NV had a return on equity of 21.59% and a net margin of 3.17%. The firm’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.10 EPS. Equities analysts forecast that CNH Industrial NV will post $0.45 earnings per share for the current year.
CNH Industrial NV announced that its board has authorized a stock repurchase program on Monday, June 5th that authorizes the company to repurchase $300.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its stock is undervalued.
Several brokerages have commented on CNHI. Seaport Global Securities upgraded CNH Industrial NV from a “neutral” rating to a “buy” rating and increased their price target for the company from $11.00 to $14.00 in a report on Thursday, July 13th. Stifel Nicolaus reiterated a “hold” rating and set a $11.50 price target on shares of CNH Industrial NV in a report on Friday, July 14th. BidaskClub upgraded CNH Industrial NV from a “hold” rating to a “buy” rating in a report on Wednesday. Bank of America Corporation upgraded shares of CNH Industrial NV from a “neutral” rating to a “buy” rating in a research note on Monday, June 19th. Finally, Zacks Investment Research downgraded shares of CNH Industrial NV from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $11.26.
About CNH Industrial NV
CNH Industrial N.V. is a capital goods company. The Company is engaged in the design, production, marketing, sale and financing of agricultural and construction equipment, trucks, commercial vehicles, buses and specialty vehicles for firefighting, defense and other uses, as well as engines, transmissions and axles for vehicles and engines under marine and power generation applications.
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