China Yuchai International (NYSE:CYD) Shares Up 13.9% - Here's Why

Key Points

• China Yuchai International's shares surged by 13.9%, reaching a last trading price of $29.29, though trading volume dropped 41% from the average.
• The company has announced a new annual dividend of $0.53, up from $0.38, indicating a yield of 430.0%.
• Several institutional investors, including Ariose Capital Management and Millennium Management, have made significant adjustments to their stakes in China Yuchai International.

China Yuchai International Limited (NYSE:CYD - Get Free Report) traded up 13.9% on Friday . The stock traded as high as $28.57 and last traded at $29.29. 161,312 shares were traded during mid-day trading, a decline of 41% from the average session volume of 273,540 shares. The stock had previously closed at $25.71.

China Yuchai International Stock Performance

The firm has a market cap of $1.08 billion, a PE ratio of 17.77 and a beta of 1.07. The firm has a 50-day moving average price of $22.57 and a two-hundred day moving average price of $18.48. The company has a quick ratio of 1.20, a current ratio of 1.55 and a debt-to-equity ratio of 0.05.

China Yuchai International Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, July 7th. Stockholders of record on Wednesday, June 25th were given a $0.53 dividend. This represents a dividend yield of 430.0%. This is a boost from China Yuchai International's previous annual dividend of $0.38. The ex-dividend date was Wednesday, June 25th. China Yuchai International's dividend payout ratio (DPR) is 32.72%.

Hedge Funds Weigh In On China Yuchai International

Several hedge funds and other institutional investors have recently made changes to their positions in CYD. Millennium Management LLC lifted its position in shares of China Yuchai International by 42.2% in the fourth quarter. Millennium Management LLC now owns 47,263 shares of the company's stock valued at $450,000 after acquiring an additional 14,030 shares in the last quarter. Nomura Holdings Inc. purchased a new position in China Yuchai International during the fourth quarter worth approximately $191,000. Ariose Capital Management Ltd purchased a new position in China Yuchai International during the first quarter worth approximately $3,383,000. Pinpoint Asset Management Ltd purchased a new position in China Yuchai International during the first quarter worth approximately $3,382,000. Finally, Trexquant Investment LP purchased a new position in China Yuchai International during the first quarter worth approximately $258,000.

China Yuchai International Company Profile

China Yuchai International Limited, through its subsidiaries, manufactures, assembles, and sells diesel and natural gas engines for trucks, buses and passenger vehicles, marine, industrial, construction, agriculture, and generator set applications in the People's Republic of China and internationally.