Shah Capital Ups Stake in Truck Engine Manufacturer China Yuchai (CYD)

Investing

Published: November 17, 2022 3:53 am

Last Updated: November 17, 2022 12:30 pm

Fintel reports that Shah Capital Management has filed a 13D/A form with the SEC disclosing ownership of 4,025,793 shares of China Yuchai International Limited (CYD). This represents 9.85% of the company.

In their previous filing dated May 24, 2018 they reported 3,267,695 shares and 8.00% of the company, an increase in shares of 23.20% and an increase in total ownership of 1.85% (calculated as current – previous percent ownership).

China Yuchai International Limited, through its subsidiary, GYMCL, engages in the manufacture, assembly, and sale of a wide variety of light-, medium- and heavy-duty engines for trucks, buses, passenger vehicles, construction equipment, marine and agriculture applications in China. GYMCL also produces diesel power generators. The engines produced by GYMCL range from diesel to natural gas and hybrid engines.

Through its regional sales offices and authorized customer service centers, GYMCL distributes its engines directly to auto OEMs and retailers and provides maintenance and retrofitting services throughout China.

Founded in 1951, GYMCL has established a reputable brand name, strong research and development team and significant market share in China with high-quality products and reliable after-sales support. In 2019, GYMCL sold 376,148 engines and is recognized as a leading manufacturer and distributor of engines in China.

What are other large shareholders doing?

Brandes Investment Partners, Lp holds 1,551,333 shares representing 3.80% ownership of the company. In it’s prior filing, the firm reported owning 1,584,814 shares, representing a decrease of 2.16%. The firm decreased its portfolio allocation in CYD by 37.11% over the last quarter.

Acadian Asset Management Llc holds 537,510 shares representing 1.32% ownership of the company. In it’s prior filing, the firm reported owning 542,153 shares, representing a decrease of 0.86%. The firm decreased its portfolio allocation in CYD by 12.79% over the last quarter.

Renaissance Technologies Llc holds 387,293 shares representing 0.95% ownership of the company. In it’s prior filing, the firm reported owning 425,893 shares, representing a decrease of 9.97%. The firm decreased its portfolio allocation in CYD by 10.18% over the last quarter.

Arnhold LLC holds 245,767 shares representing 0.60% ownership of the company. No change in the last quarter.

What is the overall institutional sentiment?

There are 56 funds or institutions reporting positions in China Yuchai International Limited. This is a decrease of 9 owner(s) or 13.85%.

Average portfolio weight of all funds dedicated to China Yuchai International Limited is 0.1739%, an increase of 11.0191%. Total shares owned by institutions decreased in the last three months by 1.95% to 8,231,385 shares.

This article originally appeared on Fintel

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