Shiloh Industries, Inc. (SHLO) Sees Significant Decline in Short Interest
Shiloh Industries, Inc. (NASDAQ:SHLO) was the recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 288,531 shares, a drop of 44.1% from the July 14th total of 516,531 shares. Based on an average daily volume of 384,606 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.0% of the shares of the company are short sold.
Several equities research analysts recently weighed in on the company. TheStreet downgraded Shiloh Industries from a “c” rating to a “d+” rating in a report on Wednesday, May 17th. ValuEngine downgraded Shiloh Industries from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th.
In related news, major shareholder Mtd Holdings Inc sold 500,000 shares of the stock in a transaction on Wednesday, July 19th. The stock was sold at an average price of $7.76, for a total transaction of $3,880,000.00. Following the completion of the sale, the insider now directly owns 7,300,866 shares of the company’s stock, valued at $56,654,720.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 51.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Weber Alan W boosted its position in Shiloh Industries by 0.9% in the second quarter. Weber Alan W now owns 296,679 shares of the basic materials company’s stock valued at $3,483,000 after buying an additional 2,521 shares during the last quarter. Eagle Global Advisors LLC boosted its position in Shiloh Industries by 22.3% in the second quarter. Eagle Global Advisors LLC now owns 22,050 shares of the basic materials company’s stock valued at $259,000 after buying an additional 4,020 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in Shiloh Industries during the second quarter valued at about $105,000. Virtu KCG Holdings LLC acquired a new position in Shiloh Industries during the second quarter valued at about $157,000. Finally, Schwab Charles Investment Management Inc. acquired a new position in Shiloh Industries during the second quarter valued at about $182,000. 19.06% of the stock is owned by institutional investors.
Shares of Shiloh Industries (NASDAQ SHLO) opened at 7.87 on Friday. The firm has a 50-day moving average price of $9.61 and a 200-day moving average price of $12.19. The firm has a market cap of $140.66 million, a P/E ratio of 20.71 and a beta of 2.16. Shiloh Industries has a 12-month low of $6.50 and a 12-month high of $16.69.
Shiloh Industries (NASDAQ:SHLO) last released its quarterly earnings results on Thursday, June 1st. The basic materials company reported $0.36 earnings per share (EPS) for the quarter. Shiloh Industries had a return on equity of 11.38% and a net margin of 0.68%. The company had revenue of $273.03 million during the quarter. On average, equities research analysts expect that Shiloh Industries will post $1.60 earnings per share for the current fiscal year.
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Shiloh Industries Company Profile
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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