BlackRock Inc. lifted its position in Shiloh Industries, Inc. (NASDAQ:SHLO) by 11.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 930,255 shares of the basic materials company’s stock after buying an additional 96,715 shares during the period. BlackRock Inc.’s holdings in Shiloh Industries were worth $8,094,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in SHLO. Hartford Investment Management Co. bought a new stake in shares of Shiloh Industries in the second quarter valued at about $202,000. Royce & Associates LP bought a new stake in shares of Shiloh Industries in the second quarter valued at about $218,000. California Public Employees Retirement System raised its holdings in shares of Shiloh Industries by 61.4% in the first quarter. California Public Employees Retirement System now owns 49,058 shares of the basic materials company’s stock valued at $427,000 after acquiring an additional 18,658 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in Shiloh Industries in the second quarter valued at about $839,000. Finally, Acadian Asset Management LLC purchased a new position in Shiloh Industries in the second quarter valued at about $1,401,000. Hedge funds and other institutional investors own 44.15% of the company’s stock.
SHLO opened at $8.33 on Tuesday. Shiloh Industries, Inc. has a 1 year low of $6.45 and a 1 year high of $12.28. The company has a debt-to-equity ratio of 1.14, a quick ratio of 1.11 and a current ratio of 1.42. The stock has a market capitalization of $198.42 million, a price-to-earnings ratio of 15.72 and a beta of 1.61.
Shiloh Industries (NASDAQ:SHLO) last posted its earnings results on Friday, September 7th. The basic materials company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Shiloh Industries had a return on equity of 8.78% and a net margin of 1.72%. The company had revenue of $294.88 million for the quarter. Sell-side analysts predict that Shiloh Industries, Inc. will post 0.75 EPS for the current fiscal year.
SHLO has been the topic of several analyst reports. BMO Capital Markets set a $14.00 target price on Shiloh Industries and gave the company a “buy” rating in a research note on Monday, September 17th. ValuEngine upgraded Shiloh Industries from a “sell” rating to a “hold” rating in a research note on Monday, July 30th. BidaskClub lowered Shiloh Industries from a “hold” rating to a “sell” rating in a research note on Thursday, October 11th. Finally, Bank of America lowered Shiloh Industries from a “neutral” rating to an “underperform” rating and set a $10.00 target price on the stock. in a research note on Monday, October 1st. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the stock. Shiloh Industries currently has an average rating of “Hold” and an average target price of $12.00.
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Shiloh Industries Company Profile
Shiloh Industries, Inc, together with its subsidiaries, provides lightweighting, noise, and vibration solutions to automotive, commercial vehicle, and other industrial markets worldwide. The company produces body systems components, including shock towers, instrument panel/cross car beams, torque boxes, tunnel supports, seat supports, seat back frames, hinge pillars, lift gates, door inners, roof supports/roof panels, dashpanels, body sides, and B and C pillars; and chassis systems components, such as cross members, frame rails, axle carriers, bearing caps, axle covers and housings, clutch housings, PTU covers, axle tubes, rack and pinion housings, steering column housings, knuckles, links, wheel hubs, calipers, master cylinders, steering pumps, brake components, wheel blanks, and flanges.
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