China Automotive Systems (NASDAQ:CAAS) Raised to “Strong-Buy” at StockNews.com

StockNews.com upgraded shares of China Automotive Systems (NASDAQ:CAAS) from a buy rating to a strong-buy rating in a report published on Tuesday.

China Automotive Systems Stock Performance

China Automotive Systems stock remained flat at $3.68 during trading on Tuesday. The company had a trading volume of 5,038 shares, compared to its average volume of 53,880. The company’s 50-day moving average price is $3.83 and its 200 day moving average price is $3.60. China Automotive Systems has a fifty-two week low of $3.04 and a fifty-two week high of $5.45. The firm has a market cap of $111.08 million, a PE ratio of 2.84 and a beta of 2.47.

China Automotive Systems (NASDAQ:CAAS) last issued its quarterly earnings data on Tuesday, May 14th. The auto parts company reported $0.27 earnings per share (EPS) for the quarter. China Automotive Systems had a return on equity of 10.84% and a net margin of 6.82%. The business had revenue of $139.39 million for the quarter.

China Automotive Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Tuesday, July 30th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 86.96%. The ex-dividend date is Tuesday, July 30th.

Institutional Trading of China Automotive Systems

An institutional investor recently bought a new position in China Automotive Systems stock. American Century Companies Inc. bought a new position in China Automotive Systems, Inc. (NASDAQ:CAAS) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 10,059 shares of the auto parts company’s stock, valued at approximately $36,000. Hedge funds and other institutional investors own 5.17% of the company’s stock.

China Automotive Systems Company Profile

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.