American Century Companies Inc. boosted its stake in CECO Environmental Corp. (NASDAQ:CECE) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,459 shares of the industrial products company’s stock after purchasing an additional 1,952 shares during the quarter. American Century Companies Inc. owned about 0.34% of CECO Environmental Corp. worth $1,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. LSV Asset Management purchased a new stake in CECO Environmental Corp. in the first quarter valued at approximately $104,000. SG Americas Securities LLC purchased a new stake in CECO Environmental Corp. in the first quarter valued at approximately $112,000. Globeflex Capital L P purchased a new stake in CECO Environmental Corp. in the first quarter valued at approximately $134,000. Gotham Asset Management LLC purchased a new stake in CECO Environmental Corp. in the first quarter valued at approximately $135,000. Finally, KCG Holdings Inc. purchased a new stake in CECO Environmental Corp. in the first quarter valued at approximately $151,000. 67.94% of the stock is currently owned by institutional investors and hedge funds.
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A number of brokerages recently weighed in on CECE. ValuEngine downgraded shares of CECO Environmental Corp. from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Zacks Investment Research downgraded shares of CECO Environmental Corp. from a “hold” rating to a “strong sell” rating in a research note on Monday, August 14th. William Blair downgraded shares of CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research note on Friday, August 11th. BidaskClub downgraded shares of CECO Environmental Corp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Needham & Company LLC raised shares of CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and raised their target price for the company 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 assigned a hold rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.25.
Shares of 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 company has a 50-day moving average of $7.99 and a 200-day moving average of $9.65. The stock’s market capitalization is $273.14 million.
CECO Environmental Corp. (NASDAQ:CECE) last issued its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.11). The firm had revenue of $93.90 million for 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 firm’s revenue was down 16.4% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. On average, analysts anticipate that CECO Environmental Corp. will post $0.59 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.075 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 3.79%. CECO Environmental Corp.’s dividend payout ratio (DPR) is -25.86%.
In other news, Director Jonathan Pollack acquired 6,800 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average cost of $7.31 per share, with a total value of $49,708.00. Following the acquisition, the director now directly owns 26,146 shares of the company’s stock, valued at $191,127.26. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jason Dezwirek acquired 25,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were purchased at an average cost of $7.27 per share, for a total transaction of $181,750.00. Following the completion of the acquisition, the director now directly owns 1,410,616 shares in the company, valued at $10,255,178.32. The disclosure for this purchase can be found here. 14.30% of the stock is owned by corporate insiders.
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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