Dynamic Technology Lab Private Ltd Acquires New Position in CAE Inc. (CAE)
Dynamic Technology Lab Private Ltd acquired a new position in shares of CAE Inc. (NYSE:CAE) during the second quarter, Holdings Channel reports. The firm acquired 11,020 shares of the company’s stock, valued at approximately $133,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. World Asset Management Inc raised its position in shares of CAE by 8.3% in the second quarter. World Asset Management Inc now owns 16,766 shares of the company’s stock worth $203,000 after buying an additional 1,284 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of CAE by 14.6% in the second quarter. Eqis Capital Management Inc. now owns 20,353 shares of the company’s stock worth $246,000 after buying an additional 2,586 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of CAE during the first quarter worth approximately $271,000. Advisors Asset Management Inc. bought a new position in shares of CAE during the second quarter worth approximately $375,000. Finally, DekaBank Deutsche Girozentrale bought a new position in shares of CAE during the second quarter worth approximately $385,000. 56.57% of the stock is currently owned by institutional investors and hedge funds.
CAE Inc. (NYSE:CAE) opened at 14.10 on Friday. The company’s 50 day moving average price is $14.16 and its 200 day moving average price is $12.82. CAE Inc. has a 52-week low of $9.34 and a 52-week high of $14.63. The company has a market cap of $3.79 billion, a P/E ratio of 19.80 and a beta of 0.99.
CAE (NYSE:CAE) last released its earnings results on Wednesday, August 10th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.06. CAE had a return on equity of 13.25% and a net margin of 9.76%. The business had revenue of $651.60 million for the quarter, compared to analyst estimates of $464.69 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. CAE’s revenue was up 17.0% on a year-over-year basis. Equities research analysts anticipate that CAE Inc. will post $0.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were paid a $0.0607 dividend. This is a positive change from CAE’s previous quarterly dividend of $0.06. The ex-dividend date was Tuesday, September 13th. This represents a $0.24 annualized dividend and a yield of 1.72%. CAE’s dividend payout ratio is currently 33.80%.
A number of brokerages have recently commented on CAE. TD Securities reissued a “buy” rating and set a $19.00 price objective on shares of CAE in a report on Thursday, August 11th. Zacks Investment Research lowered CAE from a “buy” rating to a “hold” rating in a report on Tuesday, July 5th. BMO Capital Markets reaffirmed a “market perform” rating and issued a $18.00 target price (up previously from $17.00) on shares of CAE in a report on Saturday, August 13th. RBC Capital Markets reaffirmed an “outperform” rating and issued a $19.00 target price (up previously from $18.00) on shares of CAE in a report on Saturday, August 13th. Finally, Desjardins reaffirmed a “buy” rating and issued a $21.00 target price (up previously from $20.00) on shares of CAE in a report on Saturday, August 13th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. CAE has a consensus rating of “Buy” and an average target price of $18.00.
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