Goldman Sachs Group Inc. raised its stake in CECO Environmental Corp. (NASDAQ:CECE) by 60.1% during the first quarter, Holdings Channel reports. The fund owned 71,613 shares of the industrial products company’s stock after buying an additional 26,892 shares during the period. Goldman Sachs Group Inc.’s holdings in CECO Environmental Corp. were worth $753,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in CECO Environmental Corp. by 62.0% in the first quarter. JPMorgan Chase & Co. now owns 1,197,736 shares of the industrial products company’s stock valued at $12,589,000 after buying an additional 458,315 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in CECO Environmental Corp. by 20.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,649,009 shares of the industrial products company’s stock valued at $17,331,000 after buying an additional 279,323 shares during the last quarter. Trigran Investments Inc. boosted its stake in CECO Environmental Corp. by 17.5% in the first quarter. Trigran Investments Inc. now owns 1,652,650 shares of the industrial products company’s stock valued at $17,369,000 after buying an additional 246,112 shares during the last quarter. King Luther Capital Management Corp boosted its stake in CECO Environmental Corp. by 16.4% in the first quarter. King Luther Capital Management Corp now owns 1,735,629 shares of the industrial products company’s stock valued at $18,241,000 after buying an additional 244,640 shares during the last quarter. Finally, Systematic Financial Management LP boosted its stake in CECO Environmental Corp. by 64.8% in the first quarter. Systematic Financial Management LP now owns 483,904 shares of the industrial products company’s stock valued at $5,086,000 after buying an additional 190,279 shares during the last quarter. 69.32% of the stock is currently owned by institutional investors.

CECO Environmental Corp. (CECE) traded up 4.94% during mid-day trading on Wednesday, reaching $7.44. The company’s stock had a trading volume of 51,679 shares. The firm’s 50 day moving average is $9.44 and its 200-day moving average is $10.35. CECO Environmental Corp. has a one year low of $7.05 and a one year high of $14.88. The stock’s market cap is $256.59 million.

CECO Environmental Corp. (NASDAQ:CECE) last issued its earnings results on Wednesday, August 9th. The industrial products company reported $0.08 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.11. The company had revenue of $93.90 million for the quarter, compared to analysts’ expectations of $99.09 million. CECO Environmental Corp. had a positive return on equity of 14.60% and a negative net margin of 10.27%. The business’s revenue was down 16.4% compared to the same quarter last year. During the same period last year, the business posted $0.21 earnings per share. Equities analysts expect that CECO Environmental Corp. will post $0.67 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be given a dividend of $0.075 per share. This represents a $0.30 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date is Thursday, September 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently -25.86%.

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CECE has been the topic of several research reports. Needham & Company LLC raised CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and lifted their price objective for the company from $9.51 to $13.00 in a research report on Thursday, July 6th. BidaskClub raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. Zacks Investment Research raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Finally, William Blair cut CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a research report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. CECO Environmental Corp. presently has a consensus rating of “Hold” and an average price target of $13.25.

In related news, Director Jason Dezwirek bought 25,000 shares of CECO Environmental Corp. stock in a transaction dated Tuesday, August 15th. The shares were acquired at an average cost of $7.27 per share, with a total value of $181,750.00. Following the completion of the transaction, the director now owns 1,410,616 shares in the company, valued at approximately $10,255,178.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 14.30% of the company’s stock.

About CECO Environmental Corp.

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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Institutional Ownership by Quarter for CECO Environmental Corp. (NASDAQ:CECE)

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