China Yuchai International (NYSE:CYD) Cut to Hold at Zacks Research

Zacks Research cut shares of China Yuchai International (NYSE:CYD) from a strong-buy rating to a hold rating in a report issued on Thursday morning,Zacks.com reports.

Other analysts also recently issued research reports about the stock. Weiss Ratings downgraded shares of China Yuchai International from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, May 29th. Wall Street Zen upgraded China Yuchai International from a “hold” rating to a “buy” rating in a report on Saturday, June 20th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, China Yuchai International has an average rating of “Moderate Buy” and an average price target of $60.00.

China Yuchai International Price Performance

Shares of CYD opened at $43.94 on Thursday. China Yuchai International has a 12-month low of $21.27 and a 12-month high of $61.48. The firm has a 50-day moving average price of $50.43 and a 200 day moving average price of $45.96.

China Yuchai International Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, July 28th. Shareholders of record on Friday, July 17th will be paid a dividend of $0.87 per share. This represents a yield of 198.0%. This is a boost from China Yuchai International’s previous annual dividend of $0.53. The ex-dividend date of this dividend is Friday, July 17th.

Hedge Funds Weigh In On China Yuchai International

Large investors have recently made changes to their positions in the stock. UBS Group AG increased its holdings in China Yuchai International by 752.8% in the 3rd quarter. UBS Group AG now owns 849,464 shares of the company’s stock valued at $35,142,000 after purchasing an additional 749,861 shares during the last quarter. Millennium Management LLC boosted its position in shares of China Yuchai International by 157.3% during the third quarter. Millennium Management LLC now owns 720,231 shares of the company’s stock worth $29,796,000 after buying an additional 440,278 shares during the period. Renaissance Technologies LLC grew its stake in shares of China Yuchai International by 23.4% in the first quarter. Renaissance Technologies LLC now owns 343,603 shares of the company’s stock valued at $13,229,000 after buying an additional 65,109 shares in the last quarter. Matthews International Capital Management LLC boosted its holdings in China Yuchai International by 423.7% during the 1st quarter. Matthews International Capital Management LLC now owns 324,034 shares of the company’s stock valued at $12,475,000 after acquiring an additional 262,165 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in China Yuchai International by 73.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,141 shares of the company’s stock valued at $9,728,000 after acquiring an additional 99,260 shares in the last quarter.

About China Yuchai International

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.