SIFCO Industries (NYSE:SIF) Trading 5.5% Higher – Here’s What Happened

SIFCO Industries, Inc. (NYSE:SIF)’s stock price shot up 5.5% on Monday . The stock traded as high as $23.88 and last traded at $23.44. Approximately 172,016 shares changed hands during trading, an increase of 69% from the average daily volume of 101,948 shares. The stock had previously closed at $22.21.

SIFCO Industries Trading Down 0.7%

The stock has a 50-day simple moving average of $23.33 and a 200 day simple moving average of $18.78. The stock has a market capitalization of $133.57 million, a price-to-earnings ratio of -30.10 and a beta of 0.66.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SIF. Citadel Advisors LLC acquired a new stake in shares of SIFCO Industries during the 3rd quarter valued at $143,000. Minerva Advisors LLC boosted its position in SIFCO Industries by 4.7% during the fourth quarter. Minerva Advisors LLC now owns 488,984 shares of the company’s stock valued at $2,729,000 after purchasing an additional 22,083 shares during the last quarter. Empowered Funds LLC purchased a new position in SIFCO Industries in the fourth quarter valued at about $34,000. DRW Securities LLC purchased a new position in SIFCO Industries in the fourth quarter valued at about $86,000. Finally, Wealthspire Advisors LLC acquired a new position in SIFCO Industries in the 4th quarter worth about $335,000. Institutional investors and hedge funds own 24.20% of the company’s stock.

About SIFCO Industries

SIFCO Industries, Inc is a specialty metal component manufacturer serving aerospace and industrial markets. The company operates through two primary business segments: Forged and Machined Products, which focuses on producing custom forgings, rings, discs and machined components; and Industrial Products, which supplies forgings, fasteners and assemblies for energy, general industrial and defense customers. SIFCO Industries emphasizes high-precision engineering, material traceability and quality assurance throughout its manufacturing processes.

The company’s product portfolio includes open-die and closed-die forgings, CNC-machined parts, forging stock and subassemblies.