China Yuchai International (NYSE:CYD) Shares Gap Up After Analyst Upgrade

China Yuchai International Limited (NYSE:CYD)’s share price gapped up before the market opened on Monday after Greenridge Global upgraded the stock from a hold rating to a strong-buy rating. The stock had previously closed at $45.07, but opened at $48.18. China Yuchai International shares last traded at $47.86, with a volume of 23,139 shares traded.

Other analysts also recently issued research reports about the company. Weiss Ratings downgraded China Yuchai International from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 29th. Citigroup upgraded China Yuchai International to a “buy” rating in a report on Monday. Wall Street Zen upgraded shares of China Yuchai International from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. Finally, Zacks Research cut China Yuchai International from a “strong-buy” rating to a “hold” rating in a research note on Thursday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $60.00.

Hedge Funds Weigh In On China Yuchai International

Several institutional investors have recently added to or reduced their stakes in CYD. Quantbot Technologies LP purchased a new stake in China Yuchai International during the second quarter valued at approximately $48,000. Public Employees Retirement Association of Colorado purchased a new position in China Yuchai International during the 4th quarter worth $50,000. Advisory Services Network LLC purchased a new stake in China Yuchai International in the third quarter worth about $66,000. Deutsche Bank AG purchased a new stake in shares of China Yuchai International in the 4th quarter worth approximately $67,000. Finally, Blue Trust Inc. bought a new position in shares of China Yuchai International during the first quarter valued at approximately $69,000.

China Yuchai International Price Performance

The business’s 50-day moving average price is $49.82 and its 200-day moving average price is $46.45.

China Yuchai International Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, July 28th. Stockholders of record on Friday, July 17th were issued a dividend of $0.87 per share. The ex-dividend date was Friday, July 17th. This represents a dividend yield of 198.0%. This is a boost from China Yuchai International’s previous annual dividend of $0.53.

China Yuchai International Company Profile

China Yuchai International Ltd. (NYSE: CYD) is a Cayman Islands–incorporated holding company with principal executive offices in Singapore. Through its subsidiaries, the company is a leading manufacturer and distributor of diesel engines in the People’s Republic of China. Its principal operating subsidiary, Guangxi Yuchai Machinery Company Limited (GYMCL), has been producing diesel engines since 1951 and ranks among the country’s largest heavy-duty engine makers.

The company’s core product portfolio includes high-speed and medium-speed diesel engines for on-highway trucks and buses, off-road vehicles such as construction and agricultural machinery, marine propulsion systems, and power generator sets.