American Century Companies Inc. Invests $36,000 in China Automotive Systems, Inc. (NASDAQ:CAAS)

American Century Companies Inc. purchased a new stake in shares of China Automotive Systems, Inc. (NASDAQ:CAAS) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 10,059 shares of the auto parts company’s stock, valued at approximately $36,000.

Separately, Empowered Funds LLC lifted its stake in shares of China Automotive Systems by 8.2% during the 1st quarter. Empowered Funds LLC now owns 120,409 shares of the auto parts company’s stock worth $427,000 after acquiring an additional 9,100 shares during the last quarter. 5.17% of the stock is owned by hedge funds and other institutional investors.

China Automotive Systems Price Performance

Shares of CAAS opened at $4.70 on Friday. The firm has a market capitalization of $141.87 million, a price-to-earnings ratio of 3.64 and a beta of 2.45. China Automotive Systems, Inc. has a 1-year low of $3.04 and a 1-year high of $4.97. The company has a 50-day moving average of $3.79 and a 200 day moving average of $3.72.

China Automotive Systems (NASDAQ:CAAS) last posted its quarterly earnings results on Tuesday, August 13th. The auto parts company reported $0.24 earnings per share for the quarter. China Automotive Systems had a net margin of 6.02% and a return on equity of 9.50%. The firm had revenue of $158.61 million during the quarter.

China Automotive Systems Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Tuesday, July 30th were issued a $0.80 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $3.20 annualized dividend and a dividend yield of 68.09%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered China Automotive Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, August 14th.

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.