Vanguard Group Inc. trimmed its position in shares of CPI Aerostructures, Inc. (NYSEAMERICAN:CVU) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,406 shares of the aerospace company’s stock after selling 32,985 shares during the period. Vanguard Group Inc. owned about 3.05% of CPI Aerostructures worth $2,532,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Algert Global LLC bought a new position in CPI Aerostructures in the 2nd quarter worth about $181,000. Northern Trust Corp grew its stake in CPI Aerostructures by 3.0% in the 2nd quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock worth $205,000 after acquiring an additional 634 shares in the last quarter. Benchmark Capital Advisors grew its stake in CPI Aerostructures by 1.5% in the 2nd quarter. Benchmark Capital Advisors now owns 40,400 shares of the aerospace company’s stock worth $380,000 after acquiring an additional 600 shares in the last quarter. Boston Partners grew its stake in CPI Aerostructures by 14.1% in the 2nd quarter. Boston Partners now owns 51,024 shares of the aerospace company’s stock worth $480,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its stake in CPI Aerostructures by 8.3% in the 2nd quarter. Russell Investments Group Ltd. now owns 81,803 shares of the aerospace company’s stock worth $769,000 after acquiring an additional 6,300 shares in the last quarter.
Several brokerages have recently weighed in on CVU. Noble Financial reaffirmed a “buy” rating on shares of CPI Aerostructures in a research report on Wednesday, August 9th. Zacks Investment Research raised shares of CPI Aerostructures from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research report on Tuesday, September 26th. Canaccord Genuity upped their price target on shares of CPI Aerostructures from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Finally, B. Riley reaffirmed a “buy” rating and issued a $12.00 price target on shares of CPI Aerostructures in a research report on Sunday, August 13th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. CPI Aerostructures currently has an average rating of “Buy” and a consensus price target of $11.00.
CPI Aerostructures (NYSEAMERICAN:CVU) last posted its earnings results on Wednesday, November 8th. The aerospace company reported $0.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. CPI Aerostructures had a net margin of 8.19% and a return on equity of 9.55%. The company had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $22.03 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. CPI Aerostructures’s revenue for the quarter was down 6.3% compared to the same quarter last year.
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About CPI Aerostructures
CPI Aerostructures, Inc (CPI Aero) is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in the United States. The Company is a manufacturer of structural aircraft parts and aerosystems. It is also a contractor to the United States Department of Defense, primarily the Air Force.
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