StockNews.com cut shares of China Automotive Systems (NASDAQ:CAAS – Free Report) from a strong-buy rating to a buy rating in a report published on Monday.
China Automotive Systems Price Performance
CAAS opened at $4.85 on Monday. The firm’s fifty day moving average price is $3.82 and its 200 day moving average price is $3.57. The stock has a market capitalization of $146.42 million, a PE ratio of 3.76 and a beta of 2.47. China Automotive Systems has a 12-month low of $3.04 and a 12-month high of $5.64.
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last released its quarterly earnings results on Tuesday, May 14th. The auto parts company reported $0.27 EPS for the quarter. The business had revenue of $139.39 million during the quarter. China Automotive Systems had a net margin of 6.82% and a return on equity of 10.84%.
China Automotive Systems Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Tuesday, July 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, July 30th. This represents a $3.20 annualized dividend and a dividend yield of 65.98%.
Hedge Funds Weigh In On China Automotive Systems
A hedge fund recently raised its stake in China Automotive Systems stock. Empowered Funds LLC boosted its stake in China Automotive Systems, Inc. (NASDAQ:CAAS – Free Report) by 8.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 120,409 shares of the auto parts company’s stock after buying an additional 9,100 shares during the period. Empowered Funds LLC owned 0.40% of China Automotive Systems worth $427,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.
About China Automotive Systems
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.
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