Tower Research Capital LLC TRC Raises Position in Colfax Corp (NYSE:CFX)

Tower Research Capital LLC TRC lifted its stake in shares of Colfax Corp (NYSE:CFX) by 165.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,176 shares of the industrial products company’s stock after purchasing an additional 10,077 shares during the period. Tower Research Capital LLC TRC’s holdings in Colfax were worth $454,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of CFX. Geode Capital Management LLC increased its stake in shares of Colfax by 10.7% during the 4th quarter. Geode Capital Management LLC now owns 938,320 shares of the industrial products company’s stock worth $19,610,000 after purchasing an additional 90,429 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Colfax by 103.7% during the 1st quarter. SG Americas Securities LLC now owns 10,891 shares of the industrial products company’s stock worth $323,000 after purchasing an additional 5,544 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Colfax by 172.1% during the 1st quarter. Rhumbline Advisers now owns 216,660 shares of the industrial products company’s stock worth $6,430,000 after purchasing an additional 137,029 shares during the last quarter. State Treasurer State of Michigan purchased a new stake in shares of Colfax during the 1st quarter worth approximately $1,006,000. Finally, American International Group Inc. increased its stake in shares of Colfax by 12,175.2% during the 1st quarter. American International Group Inc. now owns 189,407 shares of the industrial products company’s stock worth $5,622,000 after purchasing an additional 187,864 shares during the last quarter. Institutional investors own 95.92% of the company’s stock.

CFX traded up $0.20 on Thursday, hitting $29.02. The company’s stock had a trading volume of 40,276 shares, compared to its average volume of 1,186,333. The company’s 50 day simple moving average is $27.10 and its 200-day simple moving average is $27.62. The firm has a market cap of $3.59 billion, a P/E ratio of 12.62, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. Colfax Corp has a 12 month low of $18.95 and a 12 month high of $37.05. The company has a quick ratio of 1.90, a current ratio of 2.27 and a debt-to-equity ratio of 1.29.

Colfax (NYSE:CFX) last announced its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.04. Colfax had a negative net margin of 11.76% and a positive return on equity of 8.69%. The firm had revenue of $908.65 million during the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 62.0% compared to the same quarter last year. Equities analysts predict that Colfax Corp will post 1.97 earnings per share for the current fiscal year.

In other Colfax news, CEO Matthew L. Trerotola sold 18,589 shares of the firm’s stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $28.51, for a total value of $529,972.39. Following the completion of the transaction, the chief executive officer now directly owns 225,604 shares of the company’s stock, valued at approximately $6,431,970.04. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Christopher M. Hix sold 4,750 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total transaction of $128,630.00. Following the completion of the transaction, the chief financial officer now directly owns 29,841 shares of the company’s stock, valued at $808,094.28. The disclosure for this sale can be found here. 12.00% of the stock is owned by company insiders.

Several equities research analysts have recently issued reports on CFX shares. Morgan Stanley decreased their price target on shares of Colfax from $30.00 to $29.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Seaport Global Securities reaffirmed a “buy” rating on shares of Colfax in a report on Monday, August 12th. Stifel Nicolaus set a $35.00 price objective on shares of Colfax and gave the stock a “buy” rating in a report on Wednesday, August 7th. ValuEngine raised shares of Colfax from a “strong sell” rating to a “sell” rating in a report on Saturday, August 31st. Finally, CIBC reaffirmed a “hold” rating and issued a $15.00 price objective on shares of Colfax in a report on Friday, June 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $29.75.

Colfax Company Profile

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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