Hurco Companies, Inc. (NASDAQ:HURC) announced a quarterly dividend on Wednesday, September 12th, NASDAQ reports. Shareholders of record on Thursday, September 27th will be paid a dividend of 0.11 per share by the scientific and technical instruments company on Thursday, October 11th. This represents a $0.44 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Wednesday, September 26th.
Hurco Companies has raised its dividend by an average of 14.5% per year over the last three years and has raised its dividend annually for the last 4 consecutive years. Hurco Companies has a dividend payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings.
Shares of NASDAQ HURC traded down $0.52 on Friday, hitting $42.25. The company’s stock had a trading volume of 23,132 shares, compared to its average volume of 21,315. Hurco Companies has a 12-month low of $38.30 and a 12-month high of $50.50. The company has a market capitalization of $302.93 million, a PE ratio of 13.42 and a beta of 0.37.
Separately, BidaskClub raised shares of Hurco Companies from a “strong sell” rating to a “sell” rating in a research note on Monday, June 25th.
In related news, CEO Michael Doar sold 4,922 shares of the company’s stock in a transaction that occurred on Tuesday, October 9th. The shares were sold at an average price of $44.58, for a total transaction of $219,422.76. Following the transaction, the chief executive officer now owns 95,733 shares of the company’s stock, valued at $4,267,777.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.90% of the company’s stock.
About Hurco Companies
Hurco Companies, Inc, an industrial technology company, designs, manufactures, and sells computerized machine tools to companies in the metal cutting industry worldwide. The company offers general purpose computerized machine tools, such as vertical machining centers and turning centers. It also provides computer numerical control (CNC) machine tools, knee mills, vertical machining centers, tool room bed mills, combination lathes, horizontal machining centers, slant-bed lathes, and bridge mills; and double column vertical machining centers, and high-speed drill and tap machines.
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