Insider Buying: Hardinge Inc. (HDNG) Major Shareholder Purchases 86,773 Shares of Stock
Hardinge Inc. (NASDAQ:HDNG) major shareholder Fund Lp Privet purchased 86,773 shares of Hardinge stock in a transaction on Tuesday, August 8th. The stock was bought at an average price of $14.39 per share, for a total transaction of $1,248,663.47. Following the completion of the acquisition, the insider now owns 1,632 shares in the company, valued at approximately $23,484.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.
Hardinge Inc. (HDNG) traded down 1.55% during mid-day trading on Wednesday, hitting $13.97. 31,734 shares of the stock were exchanged. Hardinge Inc. has a 52-week low of $8.24 and a 52-week high of $14.55. The stock has a market cap of $180.70 million, a PE ratio of 481.72 and a beta of 0.93. The stock’s 50 day moving average is $12.49 and its 200 day moving average is $11.40.
Hardinge (NASDAQ:HDNG) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.12. The business 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 forecast that Hardinge Inc. will post $0.11 EPS for the current fiscal year.
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A number of analysts have issued reports on HDNG shares. ValuEngine upgraded shares of Hardinge from a “hold” rating to a “buy” rating in a report on Thursday, August 3rd. TheStreet downgraded shares of Hardinge from a “c” rating to a “d+” rating in a report on Friday, May 5th.
Several institutional investors have recently bought and sold shares of the company. Royce & Associates LP increased its position in Hardinge by 3.9% in the second quarter. Royce & Associates LP now owns 1,114,105 shares of the industrial products company’s stock valued at $13,837,000 after buying an additional 41,886 shares in the last quarter. Bank of New York Mellon Corp increased its position in Hardinge by 1.4% in the second quarter. Bank of New York Mellon Corp now owns 76,772 shares of the industrial products company’s stock valued at $953,000 after buying an additional 1,027 shares in the last quarter. Rhumbline Advisers acquired a new position in Hardinge during the second quarter valued at $147,000. First Manhattan Co. increased its position in Hardinge by 431.7% in the second quarter. First Manhattan Co. now owns 36,950 shares of the industrial products company’s stock valued at $458,000 after buying an additional 30,000 shares in the last quarter. Finally, Eagle Global Advisors LLC increased its position in Hardinge by 6.5% in the second quarter. Eagle Global Advisors LLC now owns 16,853 shares of the industrial products company’s stock valued at $209,000 after buying an additional 1,030 shares in the last quarter. 71.64% of the stock is currently owned by hedge funds and other institutional investors.
Hardinge Company Profile
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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