Hourglass Capital buys $12,152,524 stake in General Motors Company (GM)

General Motors Company (GM) : Hourglass Capital scooped up 28,286 additional shares in General Motors Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 10, 2016. The investment management firm now holds a total of 384,939 shares of General Motors Company which is valued at $12,152,524.General Motors Company makes up approximately 2.81% of Hourglass Capital’s portfolio.

Other Hedge Funds, Including , Arbor Wealth Management reduced its stake in GM by selling 555 shares or 0.49% in the most recent quarter. The Hedge Fund company now holds 111,751 shares of GM which is valued at $3,527,979. General Motors Company makes up approx 3.31% of Arbor Wealth Management’s portfolio.Investors Capital Advisory Services boosted its stake in GM in the latest quarter, The investment management firm added 3,638 additional shares and now holds a total of 36,578 shares of General Motors Company which is valued at $1,106,119. General Motors Company makes up approx 0.21% of Investors Capital Advisory Services’s portfolio.Baker Ellis Asset Management boosted its stake in GM in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 9,853 shares of General Motors Company which is valued at $310,764. General Motors Company makes up approx 0.10% of Baker Ellis Asset Management’s portfolio.Private Trust Co Na boosted its stake in GM in the latest quarter, The investment management firm added 594 additional shares and now holds a total of 18,586 shares of General Motors Company which is valued at $585,273. General Motors Company makes up approx 0.15% of Private Trust Co Na’s portfolio.

General Motors Company opened for trading at $31.48 and hit $31.89 on the upside on Friday, eventually ending the session at $31.83, with a gain of 0.89% or 0.28 points. The heightened volatility saw the trading volume jump to 88,09,747 shares. Company has a market cap of $49,716 M.

On the company’s financial health, General Motors Company reported $1.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.35 according to the earnings call on Jul 21, 2016. Analyst had a consensus of $1.51. The company had revenue of $42400.00 million for the quarter, compared to analysts expectations of $37319.22 million. The company’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.29 EPS.

Investors should note that on Jul 20, 2016, General Motors Company announced a cash dividend of $0.3800. The company’s management has announced Sep 7, 2016 as the ex-dividend date and fixed the record date on Sep 9, 2016. The payable date has been fixed on Sep 23, 2016.

Many Wall Street Analysts have commented on General Motors Company. General Motors Company was Initiated by Seaport Global Securities to “Buy” on Aug 9, 2016. Jefferies Initiated General Motors Company on Aug 9, 2016 to “Hold”, Price Target of the shares are set at $33.Company shares were Reiterated by RBC Capital Mkts on Jul 22, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 34 from a previous price target of $32 .

General Motors Company (General Motors) designs builds and sells cars trucks and automobile parts across the world. The Company also provides automotive financing services through General Motors Financial Company Inc. (GM Financial). The Company’s four automotive segments include GM North America (GMNA) GM Europe (GME) GM International Operations (GMIO) and GM South America (GMSA). The Company also sells cars and trucks to fleet customers including daily rental car companies commercial fleet customers leasing companies and governments. The Company offers 13 FlexFuel vehicles in the United States for the 2015 model year plus an additional four models to fleet and commercial customers capable of operating on gasoline E85 ethanol or any combination of the two.

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