Hardinge (HDNG) Downgraded by ValuEngine to Hold

Hardinge (NASDAQ:HDNG) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Friday.

Separately, TheStreet raised shares of Hardinge from a “d+” rating to a “b” rating in a report on Monday, August 21st.

Shares of Hardinge (NASDAQ:HDNG) traded down $0.37 during mid-day trading on Friday, hitting $16.69. 34,285 shares of the company traded hands, compared to its average volume of 54,835. The company has a market cap of $216.10, a P/E ratio of 20.11 and a beta of 0.92. Hardinge has a 1-year low of $9.51 and a 1-year high of $18.00.

A number of institutional investors have recently modified their holdings of HDNG. The Manufacturers Life Insurance Company raised its stake in Hardinge by 55.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,846 shares of the industrial products company’s stock worth $134,000 after purchasing an additional 3,890 shares in the last quarter. Rhumbline Advisers acquired a new stake in Hardinge in the 2nd quarter worth about $147,000. Wells Fargo & Company MN raised its stake in Hardinge by 68.2% in the 3rd 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 in the last quarter. JPMorgan Chase & Co. raised its stake in Hardinge by 1,702.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,755 shares of the industrial products company’s stock worth $181,000 after purchasing an additional 11,103 shares in the last quarter. Finally, Eagle Global Advisors LLC raised its stake in Hardinge by 6.5% in the 2nd quarter. Eagle Global Advisors LLC now owns 16,853 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 70.69% of the company’s stock.

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Hardinge Company Profile

Hardinge Inc (Hardinge) is a designer, manufacturer and distributor of machine tools, specializing in precision computer numerically controlled metalcutting machines and workholding technology solutions. The Company supplies high precision computer controlled metalcutting turning machines, grinding machines, machining centers and repair parts related to those machines.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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