Vanguard Group Inc. Has $12.65 Million Position in CECO Environmental Corp. (CECE)
Vanguard Group Inc. boosted its stake in shares of CECO Environmental Corp. (NASDAQ:CECE) by 13.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,203,960 shares of the industrial products company’s stock after buying an additional 146,895 shares during the period. Vanguard Group Inc. owned about 3.50% of CECO Environmental Corp. worth $12,654,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. LSV Asset Management purchased a new stake in CECO Environmental Corp. during the first quarter valued at approximately $104,000. SG Americas Securities LLC purchased a new stake in CECO Environmental Corp. during the first quarter valued at approximately $112,000. Campbell & CO Investment Adviser LLC purchased a new stake in CECO Environmental Corp. during the first quarter valued at approximately $118,000. Hancock Holding Co. raised its stake in CECO Environmental Corp. by 31.5% in the first quarter. Hancock Holding Co. now owns 16,550 shares of the industrial products company’s stock valued at $174,000 after buying an additional 3,960 shares during the last quarter. Finally, Teton Advisors Inc. raised its stake in CECO Environmental Corp. by 12.7% in the first quarter. Teton Advisors Inc. now owns 17,720 shares of the industrial products company’s stock valued at $186,000 after buying an additional 2,002 shares during the last quarter. 67.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of CECO Environmental Corp. (NASDAQ CECE) traded down 0.40% during mid-day trading on Wednesday, reaching $7.38. The company’s stock had a trading volume of 23,606 shares. The company’s market capitalization is $254.52 million. CECO Environmental Corp. has a 1-year low of $6.94 and a 1-year high of $14.88. The firm’s 50 day moving average price is $8.93 and its 200-day moving average price is $10.05.
CECO Environmental Corp. (NASDAQ:CECE) last posted its earnings results on Wednesday, August 9th. The industrial products company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.11. The business had revenue of $93.90 million during the quarter, compared to the consensus estimate 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 revenue was down 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.21 earnings per share. On average, analysts predict that CECO Environmental Corp. will post $0.59 EPS for the current year.
The firm 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 $0.075 dividend. This represents a $0.30 annualized dividend and a yield of 4.05%. The ex-dividend date is Thursday, September 14th. CECO Environmental Corp.’s dividend payout ratio is -25.86%.
CECE has been the topic of a number of research analyst reports. Zacks Investment Research raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. BidaskClub raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. William Blair lowered CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, August 11th. Finally, Needham & Company LLC raised CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and boosted their target price for the company from $9.51 to $13.00 in a research report on Thursday, July 6th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. CECO Environmental Corp. presently has a consensus rating of “Hold” and a consensus target price of $13.25.
In other CECO Environmental Corp. news, Director Jonathan Pollack bought 6,800 shares of the firm’s stock in a transaction on Wednesday, August 16th. The stock was bought at an average cost of $7.31 per share, with a total value of $49,708.00. Following the completion of the transaction, the director now directly owns 26,146 shares of the company’s stock, valued at approximately $191,127.26. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Jason Dezwirek bought 25,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was acquired at an average cost of $7.27 per share, with a total value of $181,750.00. Following the completion of the transaction, the director now directly 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. Insiders own 14.30% of the company’s stock.
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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