Charles Schwab Investment Management Inc. Acquires Shares of 89,062 JinkoSolar Holding Company Limited $JKS

Key Points

• Charles Schwab Investment Management Inc. acquired 89,062 shares of JinkoSolar Holding Company Limited, valued at approximately $1.66 million, representing 0.17% of the company's stock.
• Citigroup downgraded JinkoSolar from a "buy" rating to a "sell" rating, with the stock now holding an average rating of "Reduce" and a price target of $27.19.
• JinkoSolar recently declared a quarterly dividend of $0.325 per share, reflecting an annualized dividend yield of 5.6%.

Charles Schwab Investment Management Inc. purchased a new position in shares of JinkoSolar Holding Company Limited (NYSE:JKS - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 89,062 shares of the semiconductor company's stock, valued at approximately $1,660,000. Charles Schwab Investment Management Inc. owned about 0.17% of JinkoSolar as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Northern Trust Corp raised its position in shares of JinkoSolar by 58.6% during the 4th quarter. Northern Trust Corp now owns 84,252 shares of the semiconductor company's stock worth $2,098,000 after purchasing an additional 31,130 shares during the last quarter. Millennium Management LLC acquired a new position in shares of JinkoSolar during the 4th quarter worth about $2,846,000. SG Americas Securities LLC raised its position in shares of JinkoSolar by 8.9% during the 1st quarter. SG Americas Securities LLC now owns 62,745 shares of the semiconductor company's stock worth $1,170,000 after purchasing an additional 5,110 shares during the last quarter. Hussman Strategic Advisors Inc. acquired a new position in shares of JinkoSolar during the 1st quarter worth about $2,349,000. Finally, Public Employees Retirement System of Ohio raised its position in shares of JinkoSolar by 42.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 49,365 shares of the semiconductor company's stock worth $1,229,000 after purchasing an additional 14,765 shares during the last quarter. Institutional investors and hedge funds own 35.82% of the company's stock.

JinkoSolar Price Performance

Shares of JKS traded down $0.10 during mid-day trading on Thursday, hitting $23.91. 140,100 shares of the company were exchanged, compared to its average volume of 753,052. JinkoSolar Holding Company Limited has a 1-year low of $13.42 and a 1-year high of $37.36. The company has a debt-to-equity ratio of 1.11, a quick ratio of 1.07 and a current ratio of 1.33. The company has a 50 day moving average of $22.97 and a 200-day moving average of $20.59. The stock has a market cap of $1.23 billion, a price-to-earnings ratio of -4.77 and a beta of 0.13.

JinkoSolar Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Wednesday, July 2nd were issued a $0.325 dividend. The ex-dividend date was Wednesday, July 2nd. This represents a $1.30 dividend on an annualized basis and a yield of 5.4%. JinkoSolar's dividend payout ratio is presently -25.50%.

JinkoSolar Company Profile

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.