China Yuchai International (NYSE:CYD) Shares Gap Down – Here’s Why

China Yuchai International Limited (NYSE:CYD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $45.63, but opened at $43.23. China Yuchai International shares last traded at $40.6460, with a volume of 8,145 shares trading hands.

Analysts Set New Price Targets

CYD has been the topic of a number of research reports. Wall Street Zen raised shares of China Yuchai International from a “hold” rating to a “buy” rating in a research report on Saturday, June 20th. Greenridge Global raised shares of China Yuchai International from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of China Yuchai International from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Citigroup raised shares of China Yuchai International to a “buy” rating in a research note on Monday, July 27th. Finally, Zacks Research upgraded China Yuchai International from a “hold” rating to a “strong-buy” rating in a report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, China Yuchai International presently has an average rating of “Buy” and an average target price of $60.00.

China Yuchai International Stock Performance

The company has a 50 day moving average of $46.68 and a two-hundred day moving average of $46.76.

China Yuchai International Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, July 28th. Investors of record on Friday, July 17th were issued a $0.87 dividend. This is a boost from China Yuchai International’s previous annual dividend of $0.53. The ex-dividend date was Friday, July 17th. This represents a yield of 198.0%.

Insiders Place Their Bets

In related news, Director Poh Kiat Neo sold 8,000 shares of the firm’s stock in a transaction on Monday, August 17th. The shares were sold at an average price of $45.69, for a total transaction of $365,520.00. Following the completion of the transaction, the director owned 8,000 shares of the company’s stock, valued at $365,520. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Choon Sen Loo sold 13,200 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $46.95, for a total transaction of $619,740.00. Following the completion of the sale, the chief financial officer directly owned 13,200 shares in the company, valued at approximately $619,740. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Investors Weigh In On China Yuchai International

A number of institutional investors have recently added to or reduced their stakes in the stock. Personal CFO Solutions LLC increased its stake in shares of China Yuchai International by 2.9% during the first quarter. Personal CFO Solutions LLC now owns 10,568 shares of the company’s stock worth $407,000 after purchasing an additional 293 shares in the last quarter. State of Wyoming increased its stake in China Yuchai International by 9.8% during the 4th quarter. State of Wyoming now owns 4,956 shares of the company’s stock worth $176,000 after buying an additional 443 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in China Yuchai International by 1.7% during the 1st quarter. Public Employees Retirement System of Ohio now owns 35,186 shares of the company’s stock worth $1,355,000 after buying an additional 603 shares in the last quarter. AdvisorShares Investments LLC lifted its position in shares of China Yuchai International by 1.7% in the fourth quarter. AdvisorShares Investments LLC now owns 43,852 shares of the company’s stock valued at $1,557,000 after acquiring an additional 752 shares in the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in shares of China Yuchai International in the fourth quarter valued at approximately $50,000.

About China Yuchai International

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.