China XD Plastics (NASDAQ:CXDC) Announces Earnings Results
China XD Plastics (NASDAQ:CXDC) released its quarterly earnings results on Wednesday. The basic materials company reported $0.60 EPS for the quarter, Morningstar.com reports. The business had revenue of $463.07 million during the quarter. China XD Plastics had a return on equity of 10.43% and a net margin of 6.10%. China XD Plastics updated its FY 2019 guidance to EPS.
CXDC traded down $0.04 during midday trading on Thursday, reaching $2.16. 105 shares of the company’s stock traded hands, compared to its average volume of 12,544. The firm has a fifty day moving average price of $2.09. The company has a market cap of $101.39 million, a PE ratio of 1.69 and a beta of 1.64. The company has a quick ratio of 0.47, a current ratio of 0.96 and a debt-to-equity ratio of 0.26. China XD Plastics has a 52 week low of $1.28 and a 52 week high of $4.06.
A hedge fund recently raised its stake in China XD Plastics stock. Deutsche Bank AG increased its stake in China XD Plastics Company Ltd (NASDAQ:CXDC) by 134.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,600 shares of the basic materials company’s stock after acquiring an additional 33,000 shares during the period. Deutsche Bank AG owned approximately 0.11% of China XD Plastics worth $101,000 as of its most recent SEC filing. 7.76% of the stock is owned by hedge funds and other institutional investors.
China XD Plastics Company Limited, together with its subsidiaries, engages in the research, development, manufacture, and sale of modified plastics primarily for automotive applications in the People's Republic of China and Dubai, the United Arab Emirates. Its modified plastics are used to fabricate various auto components, including exteriors consisting of automobile bumpers, rearview and sideview mirrors, and license plate parts; interiors, such as door panels, dashboards, steering wheels, glove compartments, and safety belt components; and functional components comprising air conditioner casings, heating and ventilation casings, engine covers, and air ducts.
Further Reading: Gross Domestic Product (GDP)
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