Hardinge Inc. (HDNG) Upgraded at ValuEngine
ValuEngine upgraded shares of Hardinge Inc. (NASDAQ:HDNG) from a hold rating to a buy rating in a research note issued to investors on Friday morning.
Separately, TheStreet upgraded shares of Hardinge from a d+ rating to a b rating in a report on Monday, August 21st.
Hardinge (NASDAQ:HDNG) traded down 0.73% during midday trading on Friday, hitting $13.59. 11,776 shares of the stock traded hands. The firm’s 50-day moving average is $13.25 and its 200-day moving average is $11.84. The company has a market cap of $175.98 million, a price-to-earnings ratio of 62.34 and a beta of 0.91. Hardinge has a 52-week low of $8.24 and a 52-week high of $14.85.
Hardinge (NASDAQ:HDNG) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $0.33 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.12. The firm had revenue of $78.20 million for the quarter. Hardinge had a net margin of 0.94% and a return on equity of 4.61%. Analysts predict that Hardinge will post $0.11 EPS for the current year.
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In other Hardinge news, Director Richard R. Burkhart bought 5,000 shares of the company’s stock in a transaction on Monday, August 21st. The shares were bought at an average cost of $13.50 per share, for a total transaction of $67,500.00. Following the acquisition, the director now directly owns 15,660 shares in the company, valued at $211,410. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ryan Levenson bought 20,211 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were acquired at an average price of $14.18 per share, for a total transaction of $286,591.98. Following the completion of the acquisition, the director now owns 1,632 shares in the company, valued at $23,141.76. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 183,546 shares of company stock worth $2,627,976. Company insiders own 11.50% of the company’s stock.
A number of institutional investors have recently modified their holdings of HDNG. The Manufacturers Life Insurance Company grew its holdings in Hardinge by 55.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,846 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 3,890 shares in the last quarter. Rhumbline Advisers bought a new position in Hardinge during the 2nd quarter worth about $147,000. Deltec Asset Management LLC bought a new position in Hardinge during the 2nd quarter worth about $161,000. Eagle Global Advisors LLC grew its holdings in Hardinge by 6.5% during the 2nd quarter. Eagle Global Advisors LLC now owns 16,853 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in Hardinge by 5.4% during the 2nd quarter. Teachers Advisors LLC now owns 21,745 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 1,107 shares in the last quarter. Institutional investors own 71.38% 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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