Diamond Hill Capital Management Inc. Purchases New Shares in Hurco Companies, Inc. $HURC

Diamond Hill Capital Management Inc. purchased a new position in shares of Hurco Companies, Inc. (NASDAQ:HURC) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 57,025 shares of the scientific and technical instruments company’s stock, valued at approximately $992,000. Diamond Hill Capital Management Inc. owned 0.89% of Hurco Companies at the end of the most recent reporting period.

Separately, Ameriprise Financial Inc. grew its stake in shares of Hurco Companies by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 321,811 shares of the scientific and technical instruments company’s stock valued at $6,082,000 after acquiring an additional 1,733 shares in the last quarter. 74.36% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HURC has been the topic of several recent analyst reports. Wall Street Zen upgraded Hurco Companies from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Hurco Companies in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Hurco Companies has a consensus rating of “Sell”.

Hurco Companies Stock Performance

NASDAQ:HURC opened at $17.43 on Monday. The company has a market capitalization of $115.39 million, a price-to-earnings ratio of -7.45 and a beta of 0.66. Hurco Companies, Inc. has a one year low of $13.19 and a one year high of $23.45. The stock has a 50-day simple moving average of $16.09 and a 200 day simple moving average of $17.13.

Hurco Companies (NASDAQ:HURC) last announced its quarterly earnings data on Friday, January 9th. The scientific and technical instruments company reported ($0.47) earnings per share (EPS) for the quarter. Hurco Companies had a negative net margin of 8.47% and a negative return on equity of 7.53%. The firm had revenue of $45.47 million for the quarter.

About Hurco Companies

Hurco Companies, Inc designs, manufactures, and distributes computer numerical control (CNC) machine tools and control systems for the global manufacturing industry. The company’s product portfolio includes CNC vertical machining centers, turning centers, and custom-engineered special machines under the Hurco and Beta CNC brands. In addition to hardware, Hurco develops proprietary control software that enables machinists to program complex parts quickly and efficiently, reducing setup time and improving productivity.

Founded in 1968 and headquartered in Indianapolis, Indiana, Hurco serves a wide range of industrial markets, including aerospace, automotive, medical, energy, and consumer products.