Insider Selling: Accuride Corp. (ACW) Major Shareholder Sells 8,353,216 Shares of Stock
Accuride Corp. (NYSE:ACW) major shareholder Distressed Fund Lp Sg sold 8,353,216 shares of Accuride Corp. stock in a transaction dated Friday, November 18th. The stock was sold at an average price of $2.58, for a total value of $21,551,297.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Shares of Accuride Corp. (NYSE:ACW) remained flat at $2.58 during trading on Monday. The stock’s 50 day moving average is $2.49 and its 200 day moving average is $1.89. The firm’s market capitalization is $124.67 million. Accuride Corp. has a 52-week low of $0.74 and a 52-week high of $2.84.
A number of equities analysts have recently commented on the company. B. Riley reiterated a “neutral” rating and issued a $2.58 price objective on shares of Accuride Corp. in a research note on Sunday, September 11th. Zacks Investment Research lowered Accuride Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 29th.
Hedge funds have recently bought and sold shares of the company. Panagora Asset Management Inc. purchased a new stake in Accuride Corp. during the third quarter worth $151,000. Two Sigma Advisers LP raised its stake in Accuride Corp. by 2.5% in the third quarter. Two Sigma Advisers LP now owns 124,500 shares of the company’s stock worth $319,000 after buying an additional 3,000 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in Accuride Corp. during the third quarter worth $325,000. Northern Trust Corp raised its stake in Accuride Corp. by 94.9% in the third quarter. Northern Trust Corp now owns 133,204 shares of the company’s stock worth $341,000 after buying an additional 64,858 shares during the period. Finally, Paloma Partners Management Co purchased a new stake in Accuride Corp. during the second quarter worth $183,000. 46.60% of the stock is currently owned by institutional investors and hedge funds.
Accuride Corp. Company Profile
Accuride Corporation is a manufacturer and supplier of commercial vehicle components in North America. The Company’s products include commercial vehicle wheels, wheel-end components and assemblies, and ductile and gray iron castings. The Company’s segments include Wheels, Gunite and Brillion Iron Works.
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