Iochpe-Maxion SA (OTCMKTS:IOCJY) Stock Short Interest Declines 58.6%

Iochpe-Maxion SA (OTCMKTS:IOCJY) was the target of a large drop in short interest during the month of October. As of October 15th, there was short interest totaling 706 shares, a drop of 58.6% from the September 30th total of 1,706 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average trading volume of 1,089 shares, the short-interest ratio is currently 0.6 days.

Iochpe-Maxion Trading Up 18.3%

Shares of IOCJY traded up $0.09 during trading hours on Friday, reaching $0.60. 930 shares of the company traded hands, compared to its average volume of 828. Iochpe-Maxion has a 12 month low of $0.48 and a 12 month high of $0.73. The company has a quick ratio of 1.11, a current ratio of 1.73 and a debt-to-equity ratio of 1.15. The company’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $0.58. The company has a market capitalization of $277.16 million, a price-to-earnings ratio of 15.03 and a beta of 0.79.

Iochpe-Maxion (OTCMKTS:IOCJY) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of $0.02 by $0.02. Iochpe-Maxion had a net margin of 0.63% and a return on equity of 2.05%. The business had revenue of $778.82 million during the quarter, compared to analyst estimates of $784.78 million. Equities research analysts predict that Iochpe-Maxion will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bradesco Corretora downgraded shares of Iochpe-Maxion to a “neutral” rating in a research note on Tuesday, September 15th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

About Iochpe-Maxion

Iochpe-Maxion SA is a Brazil-based manufacturer of automotive components. Through its Maxion Wheels and Maxion Structural Components businesses, the company supplies products primarily to vehicle manufacturers and commercial-vehicle producers.

Its product portfolio includes steel and aluminum wheels, wheel components, chassis and structural assemblies, and other metal products used in passenger cars, trucks, buses, agricultural machinery, and off-highway vehicles. The company also provides engineering, development, and manufacturing services supporting the integration of these components into vehicle platforms.

Founded in Brazil in 1918, Iochpe-Maxion has expanded into an international supplier with manufacturing and other operations serving customers across the Americas, Europe, Asia, and Africa.