CECO Environmental Corp. (CECE) Shares Bought by Victory Capital Management Inc.
Victory Capital Management Inc. raised its stake in CECO Environmental Corp. (NASDAQ:CECE) by 15.4% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 126,190 shares of the industrial products company’s stock after buying an additional 16,875 shares during the period. Victory Capital Management Inc.’s holdings in CECO Environmental Corp. were worth $1,326,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its position in shares of CECO Environmental Corp. by 23.3% in the fourth quarter. State Street Corp now owns 435,744 shares of the industrial products company’s stock valued at $6,078,000 after buying an additional 82,263 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of CECO Environmental Corp. by 14.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,369,686 shares of the industrial products company’s stock valued at $19,107,000 after buying an additional 173,487 shares in the last quarter. Martingale Asset Management L P boosted its position in shares of CECO Environmental Corp. by 36.0% in the fourth quarter. Martingale Asset Management L P now owns 105,855 shares of the industrial products company’s stock valued at $1,477,000 after buying an additional 27,999 shares in the last quarter. FMR LLC boosted its position in shares of CECO Environmental Corp. by 5.4% in the fourth quarter. FMR LLC now owns 1,080,200 shares of the industrial products company’s stock valued at $15,069,000 after buying an additional 55,000 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in shares of CECO Environmental Corp. during the fourth quarter valued at $4,096,000. Institutional investors and hedge funds own 68.89% of the company’s stock.
CECO Environmental Corp. (NASDAQ:CECE) opened at 9.51 on Tuesday. The company’s 50 day moving average is $9.87 and its 200-day moving average is $11.64. The stock’s market cap is $327.72 million. CECO Environmental Corp. has a 1-year low of $8.21 and a 1-year high of $14.88.
CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings results on Wednesday, May 10th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.02. CECO Environmental Corp. had a negative net margin of 10.15% and a positive return on equity of 15.78%. The firm had revenue of $92.70 million for the quarter, compared to the consensus estimate of $97.10 million. During the same period in the prior year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was down 10.2% compared to the same quarter last year. Equities research analysts forecast that CECO Environmental Corp. will post $0.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be issued a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Wednesday, June 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently -25.00%.
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Several research analysts have recently weighed in on CECE shares. TheStreet cut shares of CECO Environmental Corp. from a “b-” rating to a “c-” rating in a research note on Thursday, March 9th. Jefferies Group LLC reiterated a “hold” rating and set a $11.00 price target on shares of CECO Environmental Corp. in a research note on Thursday, March 16th. Three investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. CECO Environmental Corp. presently has a consensus rating of “Hold” and a consensus target price of $13.25.
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 is focused 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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