Victory Capital Management Inc. bought a new stake in shares of CECO Environmental Corp. (NASDAQ:CECE) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 83,070 shares of the company’s stock, valued at approximately $726,000. Victory Capital Management Inc. owned approximately 0.24% of CECO Environmental Corp. at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of CECO Environmental Corp. during the second quarter valued at $106,000. Metropolitan Life Insurance Co. NY increased its position in shares of CECO Environmental Corp. by 8.9% in the first quarter. Metropolitan Life Insurance Co. NY now owns 19,034 shares of the company’s stock valued at $118,000 after buying an additional 1,561 shares during the period. Kirr Marbach & Co. LLC IN increased its position in shares of CECO Environmental Corp. by 2.4% in the second quarter. Kirr Marbach & Co. LLC IN now owns 19,435 shares of the company’s stock valued at $170,000 after buying an additional 450 shares during the period. IFP Advisors Inc increased its position in shares of CECO Environmental Corp. by 285,714.3% in the first quarter. IFP Advisors Inc now owns 20,007 shares of the company’s stock valued at $124,000 after buying an additional 20,000 shares during the period. Finally, Mesirow Financial Investment Management Equity Management bought a new position in shares of CECO Environmental Corp. during the second quarter valued at $277,000. Institutional investors own 53.82% of the company’s stock.
Shares of CECO Environmental Corp. (NASDAQ:CECE) traded up 2.5104% during trading on Tuesday, reaching $10.8046. The company had a trading volume of 80,206 shares. CECO Environmental Corp. has a 12 month low of $5.60 and a 12 month high of $11.75. The stock’s market capitalization is $366.94 million. The stock’s 50-day moving average price is $10.85 and its 200-day moving average price is $8.47.
CECO Environmental Corp. (NASDAQ:CECE) last posted its earnings results on Tuesday, August 9th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. The company earned $112.30 million during the quarter, compared to analyst estimates of $107.03 million. CECO Environmental Corp. had a positive return on equity of 11.06% and a negative net margin of 0.18%. The business’s revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.32 earnings per share. Equities analysts forecast that CECO Environmental Corp. will post $0.80 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.066 per share. This represents a $0.26 annualized dividend and a dividend yield of 2.50%. The ex-dividend date of this dividend is Wednesday, September 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently -520.00%.
Several research analysts have weighed in on the company. Zacks Investment Research upgraded CECO Environmental Corp. from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Monday, September 19th. Needham & Company LLC raised their price target on CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $10.93.
CECO Environmental Corp. Company Profile
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company focuses 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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