Hardinge Inc. (NASDAQ:HDNG) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
Separately, TheStreet cut Hardinge from a “c” rating to a “d+” rating in a report on Friday, May 5th.
Shares of Hardinge (NASDAQ HDNG) traded up 0.70% during midday trading on Monday, reaching $14.31. The company’s stock had a trading volume of 32,248 shares. Hardinge has a 12 month low of $8.24 and a 12 month high of $14.85. The stock’s 50 day moving average is $12.78 and its 200 day moving average is $11.52. The stock has a market capitalization of $185.30 million, a PE ratio of 65.64 and a beta of 0.93.
Hardinge (NASDAQ:HDNG) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.12. The company had revenue of $78.20 million for the quarter. Hardinge had a return on equity of 4.61% and a net margin of 0.94%. On average, analysts forecast that Hardinge will post $0.11 EPS for the current fiscal year.
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In related news, insider Charles P. Dougherty purchased 5,000 shares of the company’s stock in a transaction on Thursday, June 8th. The shares were bought at an average price of $12.68 per share, with a total value of $63,400.00. Following the completion of the acquisition, the insider now owns 5,000 shares of the company’s stock, valued at $63,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Fund Lp Privet purchased 86,773 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was bought at an average cost of $14.39 per share, for a total transaction of $1,248,663.47. Following the acquisition, the insider now directly owns 1,632 shares of the company’s stock, valued at approximately $23,484.48. The disclosure for this purchase can be found here. Insiders acquired 178,546 shares of company stock worth $2,560,476 in the last ninety days. 11.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of HDNG. Northern Trust Corp boosted its position in Hardinge by 2.6% in the second quarter. Northern Trust Corp now owns 140,526 shares of the industrial products company’s stock valued at $1,746,000 after buying an additional 3,575 shares in the last quarter. Ameriprise Financial Inc. boosted its position in Hardinge by 0.6% in the second quarter. Ameriprise Financial Inc. now owns 136,362 shares of the industrial products company’s stock valued at $1,694,000 after buying an additional 800 shares in the last quarter. Teachers Advisors LLC boosted its position in Hardinge by 5.4% in the second quarter. Teachers Advisors LLC now owns 21,745 shares of the industrial products company’s stock valued at $270,000 after buying an additional 1,107 shares in the last quarter. Kennedy Capital Management Inc. bought a new position in Hardinge during the second quarter valued at about $423,000. Finally, Royce & Associates LP boosted its position in Hardinge by 3.9% in the second quarter. Royce & Associates LP now owns 1,114,105 shares of the industrial products company’s stock valued at $13,837,000 after buying an additional 41,886 shares in the last quarter. 71.82% of the stock is currently owned by institutional investors.
Hardinge Company Profile
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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