Empowered Funds LLC Purchases 7,119 Shares of China Automotive Systems, Inc. (NASDAQ:CAAS)

Empowered Funds LLC raised its position in China Automotive Systems, Inc. (NASDAQ:CAAS) by 5.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 143,856 shares of the auto parts company’s stock after acquiring an additional 7,119 shares during the period. Empowered Funds LLC owned approximately 0.48% of China Automotive Systems worth $590,000 as of its most recent filing with the SEC.

Separately, Connor Clark & Lunn Investment Management Ltd. grew its position in China Automotive Systems by 14.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 87,102 shares of the auto parts company’s stock valued at $401,000 after purchasing an additional 11,197 shares during the period. Institutional investors and hedge funds own 5.17% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of China Automotive Systems in a report on Friday, February 14th. They set a “buy” rating on the stock.

China Automotive Systems Price Performance

CAAS opened at $4.46 on Wednesday. The firm has a market capitalization of $134.65 million, a PE ratio of 4.25 and a beta of 2.33. China Automotive Systems, Inc. has a fifty-two week low of $3.17 and a fifty-two week high of $4.97. The company’s 50-day moving average is $4.09 and its 200 day moving average is $4.09.

China Automotive Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, November 18th that authorizes the company to buyback $5.00 million in outstanding shares. This buyback authorization authorizes the auto parts company to reacquire up to 3.6% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

About China Automotive Systems

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.