Hardinge Inc. (NASDAQ:HDNG) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, TheStreet raised shares of Hardinge from a “d+” rating to a “b” rating in a report on Monday, August 21st.

Shares of Hardinge (NASDAQ:HDNG) opened at 15.28 on Tuesday. The firm’s 50-day moving average is $14.34 and its 200 day moving average is $12.60. The stock has a market cap of $197.86 million, a P/E ratio of 70.09 and a beta of 0.90. Hardinge has a 52-week low of $8.24 and a 52-week high of $15.80.

Hardinge (NASDAQ:HDNG) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.12. Hardinge had a net margin of 0.94% and a return on equity of 4.61%. The company had revenue of $78.20 million for the quarter. Analysts forecast that Hardinge will post $0.11 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “ValuEngine Downgrades Hardinge Inc. (HDNG) to Hold” was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another domain, it was copied illegally and republished in violation of United States and international copyright laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/10/12/valuengine-downgrades-hardinge-inc-hdng-to-hold.html.

In other news, major shareholder Fund Lp Privet acquired 86,773 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were purchased at an average cost of $14.39 per share, for a total transaction of $1,248,663.47. Following the transaction, the insider now directly owns 1,632 shares in the company, valued at approximately $23,484.48. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ryan Levenson acquired 20,211 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was purchased at an average price of $14.18 per share, for a total transaction of $286,591.98. Following the completion of the transaction, 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 quarter, insiders purchased 178,546 shares of company stock worth $2,564,576. 11.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Ameriprise Financial Inc. boosted its position in shares of Hardinge by 0.6% during the 2nd quarter. Ameriprise Financial Inc. now owns 136,362 shares of the industrial products company’s stock worth $1,694,000 after purchasing an additional 800 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Hardinge by 1.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 76,772 shares of the industrial products company’s stock worth $953,000 after purchasing an additional 1,027 shares in the last quarter. Eagle Global Advisors LLC boosted its position in shares of 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 purchasing an additional 1,030 shares in the last quarter. Teachers Advisors LLC boosted its position in shares of 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 purchasing an additional 1,107 shares in the last quarter. Finally, Northern Trust Corp boosted its position in shares of Hardinge by 2.6% during the 2nd quarter. Northern Trust Corp now owns 140,526 shares of the industrial products company’s stock worth $1,746,000 after purchasing an additional 3,575 shares in the last quarter. Institutional investors own 71.38% of the company’s stock.

About Hardinge

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.

Receive News & Stock Ratings for Hardinge Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hardinge Inc. and related stocks with our FREE daily email newsletter.