First Wilshire Securities Management Inc. cut its stake in shares of Hardinge, Inc. (NASDAQ:HDNG) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 331,822 shares of the industrial products company’s stock after selling 6,065 shares during the quarter. Hardinge accounts for approximately 1.6% of First Wilshire Securities Management Inc.’s holdings, making the stock its 25th biggest position. First Wilshire Securities Management Inc. owned approximately 2.56% of Hardinge worth $5,780,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in Hardinge by 55.9% in the second quarter. The Manufacturers Life Insurance Company now owns 10,846 shares of the industrial products company’s stock worth $134,000 after acquiring an additional 3,890 shares in the last quarter. Wells Fargo & Company MN raised its position in Hardinge by 68.2% in the third quarter. Wells Fargo & Company MN now owns 11,291 shares of the industrial products company’s stock worth $172,000 after acquiring an additional 4,578 shares in the last quarter. JPMorgan Chase & Co. raised its position in Hardinge by 1,702.9% in the third quarter. JPMorgan Chase & Co. now owns 11,755 shares of the industrial products company’s stock worth $181,000 after acquiring an additional 11,103 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Hardinge in the fourth quarter worth $272,000. Finally, Teachers Advisors LLC raised its position in Hardinge by 5.4% in the second quarter. Teachers Advisors LLC now owns 21,745 shares of the industrial products company’s stock worth $270,000 after acquiring an additional 1,107 shares in the last quarter. 71.16% of the stock is owned by hedge funds and other institutional investors.
Separately, ValuEngine upgraded Hardinge from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd.
Shares of HDNG stock opened at $18.31 on Friday. Hardinge, Inc. has a fifty-two week low of $9.97 and a fifty-two week high of $19.47. The firm has a market capitalization of $237.28, a PE ratio of 21.53 and a beta of 0.85.
Hardinge (NASDAQ:HDNG) last announced its quarterly earnings results on Thursday, February 15th. The industrial products company reported $0.33 earnings per share for the quarter. Hardinge had a return on equity of 6.50% and a net margin of 1.84%. The business had revenue of $90.18 million during the quarter.
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Hardinge Inc, together with its subsidiaries, designs, manufactures, and distributes machine tools in North America, Europe, and Asia. The company operates through two segments, Metalcutting Machine Solutions, and Aftermarket Tooling and Accessories. It offers computer controlled metalcutting turning machines, grinding machines, machining centers, collets, chucks, index fixtures, repair parts for machines, and other industrial products, as well as engineers and supplies high precision, standard, and specialty workholding devices, and other machine tool accessories.
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