China Yuchai International (NYSE:CYD) Shares Down 8.4% – Here’s What Happened

China Yuchai International Limited (NYSE:CYD) shares were down 8.4% on Thursday . The company traded as low as $32.26 and last traded at $31.7010. 25,335 shares traded hands during trading, a decline of 85% from the average session volume of 173,643 shares. The stock had previously closed at $34.60.

Analysts Set New Price Targets

A number of research analysts recently commented on CYD shares. Weiss Ratings cut China Yuchai International from a “buy (b-)” rating to a “hold (c)” rating in a report on Tuesday, September 8th. Wall Street Zen raised shares of China Yuchai International from a “hold” rating to a “buy” rating in a report on Saturday, September 12th. Zacks Research upgraded China Yuchai International from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 14th. Citigroup raised China Yuchai International to a “buy” rating in a report on Monday, July 27th. Finally, Greenridge Global upgraded China Yuchai International from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Three equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $60.00.

China Yuchai International Trading Down 8.8%

The firm’s 50-day moving average price is $41.55 and its 200-day moving average price is $44.57.

China Yuchai International Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, July 28th. Shareholders of record on Friday, July 17th were given a dividend of $0.87 per share. This represents a yield of 198.0%. This is a positive change from China Yuchai International’s previous annual dividend of $0.53. The ex-dividend date was Friday, July 17th.

Insider Buying and Selling at China Yuchai International

In other news, Director Neo Kiat sold 8,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $45.69, for a total value of $365,520.00. Following the sale, the director owned 8,000 shares of the company’s stock, valued at approximately $365,520. This represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Loo Sen sold 13,200 shares of China Yuchai International stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $46.95, for a total transaction of $619,740.00. Following the transaction, the chief financial officer directly owned 13,200 shares of the company’s stock, valued at approximately $619,740. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure.

Institutional Trading of China Yuchai International

Several institutional investors have recently added to or reduced their stakes in CYD. Renaissance Technologies LLC raised its holdings in shares of China Yuchai International by 23.4% in the first quarter. Renaissance Technologies LLC now owns 343,603 shares of the company’s stock worth $13,229,000 after buying an additional 65,109 shares during the period. Matthews International Capital Management LLC grew its position in China Yuchai International by 423.7% in the 1st quarter. Matthews International Capital Management LLC now owns 324,034 shares of the company’s stock valued at $12,475,000 after acquiring an additional 262,165 shares during the last quarter. Dorsey Wright & Associates increased its stake in China Yuchai International by 41.6% in the first quarter. Dorsey Wright & Associates now owns 90,208 shares of the company’s stock worth $3,473,000 after purchasing an additional 26,482 shares during the period. Diversify Wealth Management LLC increased its stake in China Yuchai International by 41.2% in the first quarter. Diversify Wealth Management LLC now owns 76,412 shares of the company’s stock worth $3,063,000 after purchasing an additional 22,305 shares during the period. Finally, Pinpoint Asset Management Singapore Pte. Ltd. lifted its position in shares of China Yuchai International by 351.8% during the fourth quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 46,196 shares of the company’s stock worth $1,640,000 after purchasing an additional 35,971 shares during the last quarter.

China Yuchai International Company Profile

China Yuchai International Limited is a Cayman Islands-based holding company whose principal operating subsidiary is Guangxi Yuchai Machinery Company Limited, one of China’s major manufacturers of diesel and natural-gas engines. The company designs, develops, manufactures and sells engines for commercial vehicles, passenger vehicles, buses, construction and agricultural equipment, marine applications, and power-generation systems.

China Yuchai’s product portfolio includes engines across a range of power requirements, along with related components, spare parts and services.