Empowered Funds LLC raised its stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS – Free Report) by 8.2% in the first quarter, Holdings Channel.com reports. The fund owned 120,409 shares of the auto parts company’s stock after purchasing an additional 9,100 shares during the period. Empowered Funds LLC’s holdings in China Automotive Systems were worth $427,000 at the end of the most recent quarter.
China Automotive Systems Stock Performance
Shares of CAAS stock opened at $4.12 on Friday. The stock has a market capitalization of $124.38 million, a P/E ratio of 3.19 and a beta of 2.47. The company has a 50 day moving average price of $3.70 and a 200 day moving average price of $3.51. China Automotive Systems, Inc. has a fifty-two week low of $3.04 and a fifty-two week high of $5.64.
China Automotive Systems (NASDAQ:CAAS – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The auto parts company reported $0.27 earnings per share for the quarter. The firm had revenue of $139.39 million during the quarter. China Automotive Systems had a net margin of 6.82% and a return on equity of 10.84%.
China Automotive Systems Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 22nd. Shareholders of record on Tuesday, July 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 77.67%.
Analysts Set New Price Targets
Separately, StockNews.com upgraded shares of China Automotive Systems from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 25th.
Get Our Latest Stock Report on CAAS
About China Automotive Systems
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People’s Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.
Further Reading
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