CECO Environmental Corp. (CECE) Holdings Held by Globeflex Capital L P
Globeflex Capital L P continued to hold its stake in shares of CECO Environmental Corp. (NASDAQ:CECE) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,771 shares of the industrial products company’s stock at the close of the 2nd quarter. Globeflex Capital L P’s holdings in CECO Environmental Corp. were worth $117,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Highbridge Capital Management LLC purchased a new stake in CECO Environmental Corp. in the 1st quarter worth about $697,000. Vanguard Group Inc. increased its holdings in CECO Environmental Corp. by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 1,203,960 shares of the industrial products company’s stock worth $12,654,000 after acquiring an additional 146,895 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in CECO Environmental Corp. in the 1st quarter worth about $447,000. Prudential Financial Inc. increased its holdings in CECO Environmental Corp. by 172.3% in the 1st quarter. Prudential Financial Inc. now owns 84,550 shares of the industrial products company’s stock worth $889,000 after acquiring an additional 53,500 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in CECO Environmental Corp. by 62.0% in the 1st quarter. JPMorgan Chase & Co. now owns 1,197,736 shares of the industrial products company’s stock worth $12,589,000 after acquiring an additional 458,315 shares during the last quarter. 67.94% of the stock is owned by institutional investors.
In related news, Director Jonathan Pollack purchased 6,800 shares of CECO Environmental Corp. stock in a transaction on Wednesday, August 16th. The stock was acquired at an average price of $7.31 per share, for a total transaction of $49,708.00. Following the completion of the transaction, the director now directly owns 26,146 shares in the company, valued at approximately $191,127.26. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jason Dezwirek purchased 25,000 shares of CECO Environmental Corp. stock in a transaction on Tuesday, August 15th. The stock was bought at an average price of $7.27 per share, with a total value of $181,750.00. Following the transaction, the director now owns 1,410,616 shares of the company’s stock, valued at $10,255,178.32. The disclosure for this purchase can be found here. Corporate insiders own 14.30% of the company’s stock.
CECO Environmental Corp. (NASDAQ CECE) opened at 8.46 on Friday. CECO Environmental Corp. has a 52 week low of $6.94 and a 52 week high of $14.88. The company’s market cap is $291.77 million. The firm has a 50-day moving average price of $7.90 and a 200 day moving average price of $9.57.
CECO Environmental Corp. (NASDAQ:CECE) last issued its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.11). The company had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $99.09 million. CECO Environmental Corp. had a positive return on equity of 14.60% and a negative net margin of 10.27%. The business’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.21 EPS. Analysts expect that CECO Environmental Corp. will post $0.59 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were given a $0.075 dividend. This represents a $0.30 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, September 14th. CECO Environmental Corp.’s payout ratio is -25.86%.
Several research analysts have commented on the company. ValuEngine downgraded CECO Environmental Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded CECO Environmental Corp. from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. William Blair downgraded CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, August 11th. BidaskClub downgraded CECO Environmental Corp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Needham & Company LLC upgraded CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and raised their target price for the stock from $9.51 to $13.00 in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $13.25.
About CECO Environmental Corp.
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company is focused on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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