IndexIQ Advisors LLC Purchases 37,422 Shares of CECO Environmental Corp. (CECE)
IndexIQ Advisors LLC boosted its position in CECO Environmental Corp. (NASDAQ:CECE) by 83.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 82,468 shares of the industrial products company’s stock after purchasing an additional 37,422 shares during the quarter. IndexIQ Advisors LLC owned about 0.24% of CECO Environmental Corp. worth $698,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in CECO Environmental Corp. in the 1st quarter valued at $112,000. Tudor Investment Corp ET AL acquired a new position in CECO Environmental Corp. in the 2nd quarter valued at $101,000. KCG Holdings Inc. acquired a new position in CECO Environmental Corp. in the 1st quarter valued at $151,000. Voya Investment Management LLC raised its stake in CECO Environmental Corp. by 23.2% in the 2nd quarter. Voya Investment Management LLC now owns 15,660 shares of the industrial products company’s stock valued at $144,000 after purchasing an additional 2,947 shares during the last quarter. Finally, American International Group Inc. raised its stake in CECO Environmental Corp. by 7.1% in the 1st quarter. American International Group Inc. now owns 18,019 shares of the industrial products company’s stock valued at $189,000 after purchasing an additional 1,187 shares during the last quarter. 69.42% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Jonathan Pollack acquired 6,800 shares of the firm’s stock in a transaction dated 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 purchase, the director now owns 26,146 shares of the company’s stock, valued at approximately $191,127.26. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 13,300 shares of company stock valued at $86,198 in the last quarter. Company insiders own 14.30% of the company’s stock.
A number of analysts have issued reports on CECE shares. ValuEngine downgraded CECO Environmental Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Needham & Company LLC downgraded CECO Environmental Corp. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 9th. Zacks Investment Research downgraded CECO Environmental Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Roth Capital reissued a “neutral” rating on shares of CECO Environmental Corp. in a research report on Thursday, November 9th. Finally, William Blair downgraded CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, August 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.33.
CECO Environmental Corp. (NASDAQ:CECE) opened at $5.66 on Tuesday. CECO Environmental Corp. has a twelve month low of $5.40 and a twelve month high of $14.88. The company has a market capitalization of $206.86, a PE ratio of 9.03, a P/E/G ratio of 1.02 and a beta of 1.46. The company has a current ratio of 1.57, a quick ratio of 1.38 and a debt-to-equity ratio of 0.54.
CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, November 8th. The industrial products company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.12). The company had revenue of $85.00 million during the quarter, compared to analysts’ expectations of $92.66 million. CECO Environmental Corp. had a negative net margin of 11.47% and a positive return on equity of 11.91%. The business’s quarterly revenue was down 16.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. equities analysts anticipate that CECO Environmental Corp. will post 0.39 earnings per share for the current fiscal year.
CECO Environmental Corp. Profile
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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