Connor Clark & Lunn Investment Management Ltd. lifted its stake in China Automotive Systems, Inc. (NASDAQ:CAAS – Free Report) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,586 shares of the auto parts company’s stock after purchasing an additional 19,484 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.35% of China Automotive Systems worth $437,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Separately, Empowered Funds LLC raised its position in China Automotive Systems by 5.2% in the 4th quarter. Empowered Funds LLC now owns 143,856 shares of the auto parts company’s stock worth $590,000 after buying an additional 7,119 shares during the last quarter. Hedge funds and other institutional investors own 5.17% of the company’s stock.
Analyst Ratings Changes
Separately, StockNews.com assumed coverage on China Automotive Systems in a research report on Tuesday, March 18th. They issued a “buy” rating for the company.
China Automotive Systems Stock Down 2.4 %
China Automotive Systems stock opened at $4.53 on Friday. The business has a 50-day simple moving average of $4.28 and a two-hundred day simple moving average of $4.22. The company has a market cap of $136.74 million, a P/E ratio of 4.31 and a beta of 2.27. China Automotive Systems, Inc. has a 52-week low of $3.25 and a 52-week high of $4.97.
China Automotive Systems Profile
China Automotive Systems, Inc, through its subsidiaries, manufactures and sells automotive systems and components in the People's Republic of China, the United States, and internationally. It produces rack and pinion power steering gears for cars and light-duty vehicles; integral power steering gears for heavy-duty vehicles; power steering parts for light duty vehicles; sensor modules; automobile steering systems and columns; and automobile electronics and systems and parts.
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