Acadian Asset Management LLC Boosts Stake in Shiloh Industries, Inc. (NASDAQ:SHLO)
Acadian Asset Management LLC increased its stake in Shiloh Industries, Inc. (NASDAQ:SHLO) by 50.5% during the second quarter, Holdings Channel reports. The institutional investor owned 77,491 shares of the basic materials company’s stock after buying an additional 26,012 shares during the period. Acadian Asset Management LLC’s holdings in Shiloh Industries were worth $910,000 at the end of the most recent quarter.
Separately, Russell Investments Group Ltd. bought a new stake in shares of Shiloh Industries during the second quarter valued at approximately $105,000. 19.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Shiloh Industries, Inc. (NASDAQ:SHLO) traded up 1.04% during mid-day trading on Friday, reaching $7.77. 43,725 shares of the company’s stock traded hands. The stock has a market cap of $138.87 million, a price-to-earnings ratio of 20.45 and a beta of 2.16. Shiloh Industries, Inc. has a 12-month low of $6.50 and a 12-month high of $16.69. The firm’s 50 day moving average price is $9.75 and its 200-day moving average price is $12.21.
Shiloh Industries (NASDAQ:SHLO) last issued its quarterly earnings data on Thursday, June 1st. The basic materials company reported $0.36 earnings per share for the quarter. Shiloh Industries had a net margin of 0.68% and a return on equity of 11.38%. The firm had revenue of $273.03 million for the quarter. Equities research analysts forecast that Shiloh Industries, Inc. will post $1.60 earnings per share for the current year.
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Several brokerages have commented on SHLO. ValuEngine lowered shares of Shiloh Industries from a “buy” rating to a “hold” rating in a research report on Wednesday, July 12th. TheStreet lowered shares of Shiloh Industries from a “c” rating to a “d+” rating in a research report on Wednesday, May 17th.
In other news, major shareholder Mtd Holdings Inc sold 500,000 shares of the stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $7.76, for a total value of $3,880,000.00. Following the transaction, the insider now owns 7,300,866 shares in the company, valued at approximately $56,654,720.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 51.70% of the stock is owned by corporate insiders.
About Shiloh Industries
Shiloh Industries, Inc is a supplier of lightweighting, noise and vibration solutions to the automotive, commercial vehicle and industrial markets. The Company operates through Automotive and Commercial Vehicles segment. The Company offers portfolio of lightweighting solutions in aluminum, magnesium, steel and high strength steel alloys.
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