China Yuchai International Limited $CYD Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management cut its China Yuchai stake by 60.2% in the second quarter, selling 271,712 shares and retaining 179,729 shares valued at approximately $8.5 million. Several other institutional investors, including UBS and Millennium Management, increased their positions.
• China Yuchai shares opened at $37.70, well below their 52-week high of $61.48. The company raised its annual dividend to $0.87 from $0.53 per share.
• Analyst sentiment remains broadly positive, with three Strong Buy and two Buy ratings and an average price target of $60.00; however, the CFO and a director each sold half of their respective holdings in August.

Wellington Management Group LLP lowered its holdings in China Yuchai International Limited (NYSE:CYD - Free Report) by 60.2% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 179,729 shares of the company's stock after selling 271,712 shares during the period. Wellington Management Group LLP owned about 0.48% of China Yuchai International worth $8,521,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. UBS Group AG lifted its holdings in shares of China Yuchai International by 752.8% in the 3rd quarter. UBS Group AG now owns 849,464 shares of the company's stock worth $35,142,000 after purchasing an additional 749,861 shares during the last quarter. Millennium Management LLC grew its stake in China Yuchai International by 157.3% during the 3rd 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 last quarter. Matthews International Capital Management LLC increased its position in China Yuchai International by 423.7% in the first quarter. Matthews International Capital Management LLC now owns 324,034 shares of the company's stock worth $12,475,000 after buying an additional 262,165 shares during the period. Lighthouse Investment Partners LLC acquired a new stake in China Yuchai International in the second quarter worth $4,307,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in China Yuchai International by 73.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 235,141 shares of the company's stock valued at $9,728,000 after buying an additional 99,260 shares during the last quarter.

China Yuchai International Stock Up 0.7%

NYSE:CYD opened at $37.70 on Wednesday. The business's 50-day moving average price is $43.88 and its 200 day moving average price is $45.57. China Yuchai International Limited has a 52-week low of $28.65 and a 52-week high of $61.48.

China Yuchai International Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, July 28th. Investors of record on Friday, July 17th were issued a $0.87 dividend. This represents a dividend yield of 198.0%. The ex-dividend date was Friday, July 17th. This is an increase from China Yuchai International's previous annual dividend of $0.53.

Insider Activity at China Yuchai International

In other China Yuchai International news, CFO Loo Sen sold 13,200 shares of the company's stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $46.95, for a total value of $619,740.00. Following the transaction, the chief financial officer owned 13,200 shares of the company's stock, valued at approximately $619,740. This represents a 50.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Neo Kiat sold 8,000 shares of the stock in a transaction on Monday, August 17th. The shares were sold at an average price of $45.69, for a total value of $365,520.00. Following the sale, the director owned 8,000 shares of the company's stock, valued at $365,520. This trade represents a 50.00% decrease in their position. The disclosure for this sale is available in the SEC filing.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Zacks Research upgraded shares of China Yuchai International from a "hold" rating to a "strong-buy" rating in a research report on Friday, August 14th. Greenridge Global upgraded China Yuchai International from a "hold" rating to a "strong-buy" rating in a research report on Monday, July 27th. Weiss Ratings raised China Yuchai International from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, August 25th. Citigroup upgraded China Yuchai International to a "buy" rating in a research report on Monday, July 27th. Finally, Wall Street Zen cut shares of China Yuchai International from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Three research analysts have rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Strong Buy" and an average target price of $60.00.

China Yuchai International Company Profile

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.

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