Rhumbline Advisers Takes $205,000 Position in Hardinge, Inc. (HDNG)

Rhumbline Advisers bought a new position in Hardinge, Inc. (NASDAQ:HDNG) during the 1st quarter, HoldingsChannel.com reports. The fund bought 11,191 shares of the industrial products company’s stock, valued at approximately $205,000.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN boosted 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 purchasing an additional 4,578 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in Hardinge in the fourth quarter worth about $272,000. Spark Investment Management LLC purchased a new position in Hardinge in the fourth quarter worth about $526,000. Highland Capital Management LP purchased a new position in Hardinge in the fourth quarter worth about $573,000. Finally, Stone Ridge Asset Management LLC purchased a new position in Hardinge in the fourth quarter worth about $641,000. 70.56% of the stock is currently owned by institutional investors and hedge funds.

Shares of Hardinge opened at $18.50 on Friday, MarketBeat Ratings reports. The stock has a market capitalization of $239.89 million, a price-to-earnings ratio of 15.29 and a beta of 0.85. Hardinge, Inc. has a 52-week low of $11.09 and a 52-week high of $19.47.

Separately, ValuEngine cut Hardinge from a “buy” rating to a “hold” rating in a research report on Thursday, May 17th.

Hardinge Company Profile

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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Institutional Ownership by Quarter for Hardinge (NASDAQ:HDNG)

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