Causeway Capital Management Lowered Stake in Infosys LTD (INFY) by $1.84 Million as Stock Price Rose; American Securities Decreased Its Position in Xerium Technologies (XRM) as Shares Rose

August 10, 2018 - By Robert Shackelford

Infosys Limited (NYSE:INFY) Logo

American Securities Llc decreased its stake in Xerium Technologies Inc (XRM) by 89.15% based on its latest 2018Q1 regulatory filing with the SEC. American Securities Llc sold 1.17M shares as the company’s stock rose 15.65% while stock markets declined. The institutional investor held 142,929 shares of the basic industries company at the end of 2018Q1, valued at $922,000, down from 1.32M at the end of the previous reported quarter. American Securities Llc who had been investing in Xerium Technologies Inc for a number of months, seems to be less bullish one the $220.29M market cap company. The stock decreased 0.15% or $0.02 during the last trading session, reaching $13.41. About 108,428 shares traded. Xerium Technologies, Inc. (NYSE:XRM) has declined 5.41% since August 10, 2017 and is downtrending. It has underperformed by 17.98% the S&P500. Some Historical XRM News: 30/04/2018 – Xerium 1Q EPS 13c; 12/04/2018 – Barington Capital Group Takes Stake in Xerium Tech: 13D Filing; 29/05/2018 – NELSON OBUS SAYS ON MAY 25, ENTERED INTO CONFIDENTIALITY AND STANDSTILL AGREEMENT WITH XERIUM TECHNOLOGIES INC – SEC FILING; 19/03/2018 – XERIUM TECHNOLOGIES INC – ENGAGED TN CAPITAL ADVISORS LLC AS FINANCIAL ADVISOR AND LATHAM & WATKINS LLP AS LEGAL ADVISOR TO ASSIST IN PROCESS; 19/03/2018 Xerium Technologies Announces Review of Strategic Alternatives to Maximize Shareholder Value; 12/04/2018 – XERIUM HOLDER BARINGTON PLANS TO CONTINUE TO ENGAGE IN TALKS; 12/04/2018 – Barington Capital Takes Stake in Xerium, Nominates Board Members; 29/05/2018 – XERIUM, HOLDER WYNNEFIELD IN CONFIDENTIALITY-STANDSTILL PACT; 12/04/2018 – Activist investor Barington nominates two directors at Xerium; 29/05/2018 – XERIUM HOLDER WYNNEFIELD TO SUPPORT CO’S BOARD SLATE

Causeway Capital Management Llc decreased its stake in Infosys Ltd (INFY) by 44.76% based on its latest 2018Q1 regulatory filing with the SEC. Causeway Capital Management Llc sold 108,315 shares as the company’s stock rose 3.62% while stock markets declined. The institutional investor held 133,700 shares of the edp services company at the end of 2018Q1, valued at $2.39 million, down from 242,015 at the end of the previous reported quarter. Causeway Capital Management Llc who had been investing in Infosys Ltd for a number of months, seems to be less bullish one the $45.15B market cap company. The stock increased 0.72% or $0.15 during the last trading session, reaching $20.9. About 2.81M shares traded. Infosys Limited (NYSE:INFY) has risen 18.12% since August 10, 2017 and is uptrending. It has outperformed by 5.55% the S&P500. Some Historical INFY News: 11/04/2018 – Tata Consultancy, Infosys set to post modest fourth-quarter revenue growth; 18/05/2018 – DNA India: TechMa’s Nayyar, Narayanan in race for Infosys VC post; 04/05/2018 – INFOSYS APPROVES INR130M OF ANNUAL EQUITY GRANT RSU FOR PAREKH; 15/05/2018 – Harris Associates Adds Regeneron, Exits Infosys, Cuts GE: 13F; 05/03/2018 – Infosys Selected by Allison Transmission to Provide Next-Generation Infrastructure Management Services; 10/04/2018 – CALIX INC – MULTI-YEAR PARTNERSHIP WITH INFOSYS TO ACCELERATE COMMUNICATIONS SERVICE PROVIDER (CSP) ADOPTION OF AXOS PLATFORM; 16/04/2018 – Infosys Drags India’s Sensex Lower After Disappointing Outlook; 08/03/2018 – INFOSYS SAYS CBI HAS NOT CONTACTED CO. ON MATTER; 12/03/2018 – Infosys Announces its Intent to Voluntarily Delist from Euronext Paris and Euronext London Exchanges; 31/05/2018 – INFOSYS LIMITED: Investor Meet

Investors sentiment decreased to 0.63 in 2018 Q1. Its down 0.82, from 1.45 in 2017Q4. It dived, as 9 investors sold XRM shares while 18 reduced holdings. 7 funds opened positions while 10 raised stakes. 9.49 million shares or 8.23% less from 10.34 million shares in 2017Q4 were reported. Phoenix Adviser Limited Liability Corporation holds 163,948 shares. Granite Investment Partners Ltd Liability Com owns 68,238 shares. Moreover, Tower Capital (Trc) has 0% invested in Xerium Technologies, Inc. (NYSE:XRM) for 774 shares. Federated Pa accumulated 0% or 550 shares. Blackrock has invested 0% in Xerium Technologies, Inc. (NYSE:XRM). Pinnacle Holding Lc holds 0% in Xerium Technologies, Inc. (NYSE:XRM) or 75,711 shares. Bankshares Of New York Mellon accumulated 53,880 shares. Dimensional Fund Advsrs LP invested in 234,927 shares. Kennedy Mgmt Inc holds 33,265 shares. Weber Alan W has 0.23% invested in Xerium Technologies, Inc. (NYSE:XRM) for 78,258 shares. Redwood Cap Management Limited Liability Company has 132,423 shares. Geode Capital Management Limited Liability Company invested 0% of its portfolio in Xerium Technologies, Inc. (NYSE:XRM). Buckhead Ltd Liability Corp holds 0.21% or 149,450 shares in its portfolio. Wilen Inv Mngmt, Florida-based fund reported 104,059 shares. Whitebox Advisors Limited Liability Corp holds 0.01% or 29,663 shares in its portfolio.

More recent Xerium Technologies, Inc. (NYSE:XRM) news were published by: Globenewswire.com which released: “MERGER ALERT – MITL, QCP, XRM: Levi & Korsinsky, LLP Reminds Investors of Investigations Concerning the Sale …” on July 16, 2018. Also Businesswire.com published the news titled: “Xerium Reports Q2 2018 Results” on July 26, 2018. Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Monteverde & Associates PC Announces An Investigation Of Xerium Technologies, Inc. – XRM” with publication date: July 17, 2018 was also an interesting one.

Causeway Capital Management Llc, which manages about $27.14B and $9.33B US Long portfolio, upped its stake in Barclays Plc (NYSE:BCS) by 48,189 shares to 3.68M shares, valued at $43.46 million in 2018Q1, according to the filing. It also increased its holding in Encana Corp (NYSE:ECA) by 1.55 million shares in the quarter, for a total of 65.59M shares, and has risen its stake in Astrazeneca Plc (NYSE:AV).

Analysts await Infosys Limited (NYSE:INFY) to report earnings on October, 23. They expect $0.26 earnings per share, up 4.00% or $0.01 from last year’s $0.25 per share. INFY’s profit will be $561.61 million for 20.10 P/E if the $0.26 EPS becomes a reality. After $0.27 actual earnings per share reported by Infosys Limited for the previous quarter, Wall Street now forecasts -3.70% negative EPS growth.

Among 22 analysts covering Infosys (NYSE:INFY), 5 have Buy rating, 3 Sell and 14 Hold. Therefore 23% are positive. Infosys had 46 analyst reports since July 24, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Friday, August 18 by Cowen & Co. The firm earned “Hold” rating on Tuesday, October 3 by Robert W. Baird. As per Monday, September 28, the company rating was upgraded by Societe Generale. As per Friday, January 6, the company rating was downgraded by CLSA. Cantor Fitzgerald initiated Infosys Limited (NYSE:INFY) on Friday, October 16 with “Hold” rating. The rating was maintained by Susquehanna on Monday, April 16 with “Sell”. Stifel Nicolaus maintained the shares of INFY in report on Friday, August 18 with “Hold” rating. The firm has “Neutral” rating given on Monday, October 12 by Susquehanna. Stifel Nicolaus maintained Infosys Limited (NYSE:INFY) on Friday, April 13 with “Hold” rating. As per Wednesday, August 26, the company rating was upgraded by Jefferies.

Xerium Technologies, Inc. (NYSE:XRM) Institutional Positions Chart

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