Royce & Associates LP Continues to Hold Holdings in CECO Environmental Corp. (CECE)
Royce & Associates LP maintained its position in shares of CECO Environmental Corp. (NASDAQ:CECE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 99,028 shares of the industrial products company’s stock at the close of the 2nd quarter. Royce & Associates LP owned 0.29% of CECO Environmental Corp. worth $909,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Highbridge Capital Management LLC purchased a new stake in CECO Environmental Corp. in the 1st quarter worth approximately $697,000. Vanguard Group Inc. boosted its position 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 purchasing an additional 146,895 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in CECO Environmental Corp. in the 1st quarter worth approximately $447,000. Bank of Montreal Can boosted its position in CECO Environmental Corp. by 557.5% in the 1st quarter. Bank of Montreal Can now owns 98,515 shares of the industrial products company’s stock worth $1,036,000 after purchasing an additional 83,532 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position 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 purchasing an additional 458,315 shares in the last quarter. Institutional investors and hedge funds own 67.94% of the company’s stock.
CECO Environmental Corp. (CECE) opened at 7.92 on Friday. CECO Environmental Corp. has a 52 week low of $6.94 and a 52 week high of $14.88. The firm’s market capitalization is $273.14 million. The stock’s 50 day moving average price is $7.99 and its 200 day moving average price is $9.65.
CECO Environmental Corp. (NASDAQ:CECE) last posted its quarterly earnings results on Wednesday, August 9th. The industrial products company reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.11). The business had revenue of $93.90 million during the quarter, compared to analysts’ expectations of $99.09 million. CECO Environmental Corp. had a negative net margin of 10.27% and a positive return on equity of 14.60%. The firm’s quarterly revenue was down 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.21 earnings per share. On average, equities analysts expect that CECO Environmental Corp. will post $0.59 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.075 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a yield of 3.79%. CECO Environmental Corp.’s payout ratio is -25.86%.
In other news, Director Jonathan Pollack bought 6,800 shares of the firm’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average cost of $7.31 per share, for a total transaction of $49,708.00. Following the completion of the transaction, the director now owns 26,146 shares in the company, valued at $191,127.26. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jason Dezwirek bought 25,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were purchased at an average price of $7.27 per share, for a total transaction of $181,750.00. Following the completion of the transaction, the director now owns 1,410,616 shares of the company’s stock, valued at approximately $10,255,178.32. The disclosure for this purchase can be found here. 14.30% of the stock is currently owned by insiders.
Several equities research analysts have commented on CECE shares. William Blair lowered CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, August 11th. Zacks Investment Research upgraded CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. ValuEngine lowered CECO Environmental Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub upgraded CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Finally, Needham & Company LLC raised CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and upped their target price for the stock from $9.51 to $13.00 in a research note on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $13.25.
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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