China Yuchai International Limited $CYD Shares Sold by Shah Capital Management

Key Points

• Shah Capital Management has reduced its stake in China Yuchai International Limited by 23.5%, now owning approximately 3.3 million shares, which makes up about 11.5% of its investment portfolio.
• China Yuchai International increased its annual dividend to $0.53, representing a significant yield of 430.0% compared to the previous $0.38 dividend.
• A number of analysts have upgraded China Yuchai International's stock rating, with Wall Street Zen and Zacks Research both issuing a "strong-buy" rating recently.

Shah Capital Management lessened its stake in China Yuchai International Limited (NYSE:CYD - Free Report) by 23.5% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,324,022 shares of the company's stock after selling 1,021,449 shares during the period. China Yuchai International comprises approximately 11.5% of Shah Capital Management's portfolio, making the stock its 3rd largest position. Shah Capital Management owned 8.86% of China Yuchai International worth $56,475,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. Pinpoint Asset Management Ltd acquired a new stake in shares of China Yuchai International in the first quarter valued at $3,382,000. Ariose Capital Management Ltd acquired a new position in China Yuchai International in the 1st quarter valued at about $3,383,000. Nomura Holdings Inc. purchased a new stake in China Yuchai International during the fourth quarter worth about $191,000. Finally, Millennium Management LLC lifted its position in shares of China Yuchai International by 42.2% during the fourth quarter. Millennium Management LLC now owns 47,263 shares of the company's stock worth $450,000 after purchasing an additional 14,030 shares in the last quarter.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Zacks Research upgraded China Yuchai International from a "hold" rating to a "strong-buy" rating in a report on Friday, August 15th. Wall Street Zen upgraded shares of China Yuchai International from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Buy".

China Yuchai International Stock Performance

CYD traded up $0.93 during trading on Monday, hitting $32.20. The stock had a trading volume of 240,596 shares, compared to its average volume of 277,733. The firm has a market capitalization of $1.21 billion, a P/E ratio of 19.90 and a beta of 1.07. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 1.55. China Yuchai International Limited has a twelve month low of $8.61 and a twelve month high of $33.20. The company's 50-day moving average price is $24.76 and its 200 day moving average price is $19.84.

China Yuchai International Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, July 7th. Investors of record on Wednesday, June 25th were issued a dividend of $0.53 per share. This is an increase from China Yuchai International's previous annual dividend of $0.38. This represents a yield of 430.0%. The ex-dividend date of this dividend was Wednesday, June 25th. China Yuchai International's dividend payout ratio is currently 32.72%.

About China Yuchai International

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.