Hurco Companies (HURC) Cut to Hold at BidaskClub

BidaskClub cut shares of Hurco Companies (NASDAQ:HURC) from a buy rating to a hold rating in a research note issued to investors on Saturday.

Separately, ValuEngine raised Hurco Companies from a hold rating to a buy rating in a report on Friday, September 1st.

Hurco Companies (NASDAQ HURC) opened at $43.15 on Friday. Hurco Companies has a 1-year low of $26.25 and a 1-year high of $46.75. The company has a market capitalization of $286.50, a P/E ratio of 25.44 and a beta of 0.52.

Hurco Companies (NASDAQ:HURC) last released its earnings results on Friday, September 8th. The scientific and technical instruments company reported $0.58 EPS for the quarter. Hurco Companies had a return on equity of 6.00% and a net margin of 4.88%. The company had revenue of $60.77 million for the quarter.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Wednesday, January 3rd will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Tuesday, January 2nd. Hurco Companies’s dividend payout ratio is presently 23.53%.

In related news, Director Robert W. Cruickshank sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $42.25, for a total value of $84,500.00. Following the sale, the director now owns 26,396 shares of the company’s stock, valued at approximately $1,115,231. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert W. Cruickshank sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,000 shares of company stock worth $1,241,780. 8.30% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in HURC. FMR LLC increased its position in Hurco Companies by 8.0% in the 2nd quarter. FMR LLC now owns 659,299 shares of the scientific and technical instruments company’s stock valued at $22,911,000 after acquiring an additional 48,980 shares during the period. Algert Global LLC increased its position in Hurco Companies by 288.9% in the 3rd quarter. Algert Global LLC now owns 48,056 shares of the scientific and technical instruments company’s stock valued at $1,999,000 after acquiring an additional 35,698 shares during the period. Hillsdale Investment Management Inc. acquired a new stake in Hurco Companies in the 3rd quarter valued at approximately $1,140,000. OxFORD Asset Management LLP increased its position in Hurco Companies by 387.4% in the 3rd quarter. OxFORD Asset Management LLP now owns 28,149 shares of the scientific and technical instruments company’s stock valued at $1,161,000 after acquiring an additional 22,374 shares during the period. Finally, Quantum Capital Management acquired a new stake in Hurco Companies in the 3rd quarter valued at approximately $808,000. 79.17% of the stock is currently owned by institutional investors and hedge funds.

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Hurco Companies Company Profile

Hurco Companies, Inc is an industrial technology company. The Company designs, manufactures and sells computerized (Computer Numeric Control (CNC)) machine tools, consisting primarily of vertical machining centers (mills) and turning centers (lathes), to companies in the metal cutting industry. It operates in the industrial automation equipment segment.

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