Shiloh Industries, Inc. (NASDAQ:SHLO) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 198,900 shares, a decline of 8.8% from the September 30th total of 218,000 shares. Based on an average daily trading volume, of 33,700 shares, the days-to-cover ratio is presently 5.9 days. Approximately 1.3% of the shares of the company are sold short.
Large investors have recently made changes to their positions in the company. New England Private Wealth Advisors LLC acquired a new position in shares of Shiloh Industries during the second quarter worth $58,000. Weiss Asset Management LP acquired a new stake in Shiloh Industries in the second quarter valued at $75,000. JPMorgan Chase & Co. increased its holdings in Shiloh Industries by 120.4% in the second quarter. JPMorgan Chase & Co. now owns 32,970 shares of the basic materials company’s stock valued at $152,000 after purchasing an additional 18,012 shares during the period. First Trust Advisors LP increased its holdings in Shiloh Industries by 25.6% in the third quarter. First Trust Advisors LP now owns 33,959 shares of the basic materials company’s stock valued at $141,000 after purchasing an additional 6,913 shares during the period. Finally, Alambic Investment Management L.P. acquired a new stake in Shiloh Industries in the second quarter valued at $186,000. Institutional investors own 43.41% of the company’s stock.
A number of brokerages have weighed in on SHLO. Zacks Investment Research raised Shiloh Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Bank of America raised Shiloh Industries from an “underperform” rating to a “neutral” rating in a research report on Friday, September 13th. TheStreet downgraded Shiloh Industries from a “c-” rating to a “d” rating in a research report on Wednesday, August 14th. Finally, ValuEngine upgraded Shiloh Industries from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
Shares of NASDAQ:SHLO traded up $0.12 during trading on Friday, reaching $3.75. 50,500 shares of the stock were exchanged, compared to its average volume of 35,206. The stock has a 50-day moving average price of $3.91 and a 200-day moving average price of $4.57. The firm has a market cap of $86.36 million, a PE ratio of 6.05, a PEG ratio of 0.96 and a beta of 1.70. The company has a current ratio of 1.34, a quick ratio of 1.03 and a debt-to-equity ratio of 1.30. Shiloh Industries has a 12 month low of $3.57 and a 12 month high of $8.73.
Shiloh Industries (NASDAQ:SHLO) last announced its quarterly earnings results on Thursday, September 5th. The basic materials company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.02. The company had revenue of $263.45 million during the quarter. Shiloh Industries had a negative net margin of 1.35% and a positive return on equity of 0.16%. On average, sell-side analysts expect that Shiloh Industries will post 0.25 earnings per share for the current fiscal year.
Shiloh Industries Company Profile
Shiloh Industries, Inc, together with its subsidiaries, provides lightweighting solutions to automotive and commercial vehicle markets worldwide. The company produces components primarily for body structure, chassis, and propulsion systems. Its solution materials include aluminum, magnesium, steel, high strength steel alloys, and acoustic laminates; body structure components comprise shock towers, instrument panels/cross car beams, torque boxes, tunnel supports, seat supports, seat back frames, hinge pillars, liftgates, door inners, roof supports/roof panels, dashpanels, and body sides; and chassis systems components, such as cross members, frame rails, axle carriers, bearing caps, axle covers, ptu covers, axle tubes, rack and pinion housings, steering column housings, knuckles, links, wheel hubs, steering pumps, brake components, wheel blanks, and flanges.
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