Sound Point Capital Management Lp adds Accuride Corporation (ACW) to its portfolio

Accuride Corporation (ACW) : Sound Point Capital Management Lp added new position in Accuride Corporation during the most recent quarter end. The investment management firm now holds 1,000,000 shares of Accuride Corporation which is valued at $2,490,000 , the company said in a statement filed on Nov 14, 2016 with the SEC.Accuride Corporation makes up approximately 3.41% of Sound Point Capital Management Lp’s portfolio.

Other Hedge Funds, Including , Price Michael F added ACW to its portfolio by purchasing 715,237 company shares during the most recent quarter which is valued at $1,780,940. Accuride Corporation makes up approx 0.24% of Price Michael F’s portfolio.Spark Investment Management reduced its stake in ACW by selling 141,000 shares or 24.83% in the most recent quarter. The Hedge Fund company now holds 426,800 shares of ACW which is valued at $1,054,196. Accuride Corporation makes up approx 0.09% of Spark Investment Management’s portfolio. Citadel Advisors sold out all of its stake in ACW during the most recent quarter. The investment firm sold 35,004 shares of ACW which is valued $86,460.

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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