New Generation Advisors Lowers stake in Accuride Corporation (ACW)

Accuride Corporation (ACW) : New Generation Advisors reduced its stake in Accuride Corporation by 0.59% during the most recent quarter end. The investment management company now holds a total of 2,899,367 shares of Accuride Corporation which is valued at $4,233,076 after selling 17,257 shares in Accuride Corporation , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Accuride Corporation makes up approximately 3.18% of New Generation Advisors’s portfolio.

Other Hedge Funds, Including , Schwab Charles Investment Management Inc reduced its stake in ACW by selling 65,000 shares or 27.99% in the most recent quarter. The Hedge Fund company now holds 167,189 shares of ACW which is valued at $244,096. Cornerstone Capital Management Holdings. sold out all of its stake in ACW during the most recent quarter. The investment firm sold 114,568 shares of ACW which is valued $167,269.Credit Suisse Ag boosted its stake in ACW in the latest quarter, The investment management firm added 111,435 additional shares and now holds a total of 123,076 shares of Accuride Corporation which is valued at $179,691.Blackrock Fund Advisors reduced its stake in ACW by selling 884,364 shares or 88.84% in the most recent quarter. The Hedge Fund company now holds 111,108 shares of ACW which is valued at $162,218.Blackrock Investment Management reduced its stake in ACW by selling 134,152 shares or 95.19% in the most recent quarter. The Hedge Fund company now holds 6,785 shares of ACW which is valued at $9,906.

Accuride Corporation closed down -0.03 points or -1.78% at $1.66 with 1,00,826 shares getting traded on Thursday. Post opening the session at $1.74, the shares hit an intraday low of $1.62 and an intraday high of $1.74 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Accuride Corporation reported $0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Jul 26, 2016. Analyst had a consensus of $0.01. The company had revenue of $164.12 million for the quarter, compared to analysts expectations of $171.33 million. The company’s revenue was down -11.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.13 EPS.

Many Wall Street Analysts have commented on Accuride Corporation. Accuride Corporation was Downgraded by Gabelli & Co to ” Hold” on Sep 7, 2016.

Accuride Corporation is a manufacturer and supplier of commercial vehicle components in North America. The Company’s three segments are Wheels Gunite and Brillion Iron Works. The Wheels segment’s products primarily consist of steel and aluminum wheels. The Gunite segment’s products consist primarily of wheel-end components and assemblies. The Brillion Iron Works segment’s products primarily consist of ductile austempered ductile and gray iron castings including engine and transmission components and industrial components. It classifies its products as wheels wheel-end components and assemblies and ductile and gray iron castings. The Company markets its products under a number of brand names including Accuride Gunite and Brillion. It serves original equipment manufacturers (OEMs) and their related aftermarket channels in the commercial vehicle market including heavy-and medium-duty trucks commercial trailers light trucks buses as well as specialty and military vehicles.

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