Hurco Companies (NASDAQ:HURC) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of Hurco Companies (NASDAQ:HURC – Get Rating) from a buy rating to a hold rating in a report issued on Monday morning.

Hurco Companies Stock Down 0.4 %

Shares of Hurco Companies stock opened at $27.63 on Monday. The company has a 50 day moving average price of $28.03 and a 200 day moving average price of $25.70. The firm has a market capitalization of $185.12 million, a P/E ratio of 30.70 and a beta of 0.46. Hurco Companies has a 52 week low of $21.75 and a 52 week high of $34.76.

Hurco Companies (NASDAQ:HURC – Get Rating) last posted its quarterly earnings results on Friday, January 6th. The scientific and technical instruments company reported $0.22 earnings per share (EPS) for the quarter. Hurco Companies had a net margin of 2.52% and a return on equity of 2.64%. The business had revenue of $63.46 million during the quarter.

Hurco Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 10th. Stockholders of record on Monday, March 27th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 24th. This is a positive change from Hurco Companies’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.32%. Hurco Companies’s dividend payout ratio is currently 66.67%.

Institutional Investors Weigh In On Hurco Companies

A hedge fund recently raised its stake in Hurco Companies stock. Bank of New York Mellon Corp raised its holdings in shares of Hurco Companies, Inc. (NASDAQ:HURC – Get Rating) by 2.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,213 shares of the scientific and technical instruments company’s stock after acquiring an additional 858 shares during the period. Bank of New York Mellon Corp owned approximately 0.47% of Hurco Companies worth $984,000 at the end of the most recent quarter. 71.45% of the stock is currently owned by institutional investors and hedge funds.

Hurco Companies Company Profile

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Hurco Cos., Inc is an international industrial technology company, which engages in the design, manufacture and sale of computerized machine tools. It also offers machine tool components, software options, control upgrades, and accessories and replacement parts for its products, as well as customer service and training and applications support.