Stevens Capital Management LP reduced its position in Metaldyne Performance Group Inc (NYSE:MPG) by 49.8% during the first quarter, Holdings Channel reports. The fund owned 45,000 shares of the auto parts company’s stock after selling 44,719 shares during the period. Stevens Capital Management LP’s holdings in Metaldyne Performance Group were worth $1,028,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently modified their holdings of MPG. Cigna Investments Inc. New bought a new stake in shares of Metaldyne Performance Group during the fourth quarter worth approximately $286,000. Wells Fargo & Company MN boosted its stake in shares of Metaldyne Performance Group by 0.9% in the first quarter. Wells Fargo & Company MN now owns 12,988 shares of the auto parts company’s stock worth $297,000 after buying an additional 119 shares during the last quarter. Highland Capital Management LP bought a new stake in shares of Metaldyne Performance Group during the fourth quarter worth approximately $433,000. Teachers Advisors LLC boosted its stake in shares of Metaldyne Performance Group by 7.1% in the fourth quarter. Teachers Advisors LLC now owns 24,261 shares of the auto parts company’s stock worth $557,000 after buying an additional 1,603 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in shares of Metaldyne Performance Group during the third quarter worth approximately $425,000. Institutional investors and hedge funds own 18.58% of the company’s stock.
Metaldyne Performance Group Inc (NYSE:MPG) remained flat at $21.90 during mid-day trading on Friday. The firm has a 50 day moving average of $21.97 and a 200-day moving average of $22.11. Metaldyne Performance Group Inc has a 12 month low of $12.55 and a 12 month high of $24.00.
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A number of brokerages have commented on MPG. Royal Bank of Canada restated a “hold” rating and issued a $21.00 price target on shares of Metaldyne Performance Group in a research report on Tuesday, February 28th. TheStreet upgraded Metaldyne Performance Group from a “d” rating to a “c” rating in a research report on Wednesday, February 22nd. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $17.75.
Metaldyne Performance Group Company Profile
Metaldyne Performance Group Inc provides components for use in engine, transmission and driveline (Powertrain) and chassis, suspension, steering and brake component (Safety-Critical) Platforms for the global light, commercial and industrial vehicle markets. The Company produces these components using complex metal-forming manufacturing technologies and processes for a customer base of vehicle original equipment manufacturers and Tier I suppliers.
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