Aberdeen Group plc grew its holdings in JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) by 63.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 78,065 shares of the semiconductor company's stock after buying an additional 30,340 shares during the quarter. Aberdeen Group plc owned approximately 0.15% of JinkoSolar worth $1,455,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. CoreCommodity Management LLC increased its stake in shares of JinkoSolar by 1.1% in the fourth quarter. CoreCommodity Management LLC now owns 61,559 shares of the semiconductor company's stock valued at $1,533,000 after buying an additional 640 shares in the last quarter. Banque Cantonale Vaudoise acquired a new stake in shares of JinkoSolar in the first quarter valued at $36,000. CANADA LIFE ASSURANCE Co acquired a new stake in shares of JinkoSolar in the fourth quarter valued at $55,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of JinkoSolar by 85.1% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 8,697 shares of the semiconductor company's stock valued at $217,000 after buying an additional 3,998 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in shares of JinkoSolar by 502.4% in the first quarter. Caitong International Asset Management Co. Ltd now owns 5,470 shares of the semiconductor company's stock valued at $102,000 after buying an additional 4,562 shares in the last quarter. 35.82% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Separately, Citigroup lowered JinkoSolar from a "buy" rating to a "sell" rating in a research note on Monday, May 5th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and four have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average price target of $27.19.
Read Our Latest Research Report on JinkoSolar
JinkoSolar Trading Up 4.1%
JKS stock traded up $0.9350 during midday trading on Friday, reaching $23.5350. The stock had a trading volume of 690,033 shares, compared to its average volume of 425,084. The business has a fifty day simple moving average of $22.45 and a two-hundred day simple moving average of $20.49. The company has a quick ratio of 1.07, a current ratio of 1.33 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of -4.69 and a beta of 0.21. JinkoSolar Holding Company Limited has a twelve month low of $13.42 and a twelve month high of $37.36.
JinkoSolar Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Wednesday, July 2nd were given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Wednesday, July 2nd. JinkoSolar's payout ratio is presently -25.50%.
JinkoSolar Profile
(
Free Report)
JinkoSolar Holding Co, Ltd., together with its subsidiaries, engages in the design, development, production, and marketing of photovoltaic products. The company offers solar modules, silicon wafers, solar cells, recovered silicon materials, and silicon ingots. It also provides solar system integration services; solar power generation and solar system EPC services; and energy storage system, as well as undertakes solar power projects.
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