Lingohr & Partner Asset Management GmbH Sells 17,233 Shares of Celestica Inc (CLS)
Lingohr & Partner Asset Management GmbH cut its holdings in shares of Celestica Inc (NYSE:CLS) (TSE:CLS) by 4.7% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 348,795 shares of the technology company’s stock after selling 17,233 shares during the quarter. Celestica comprises about 1.9% of Lingohr & Partner Asset Management GmbH’s holdings, making the stock its 5th largest position. Lingohr & Partner Asset Management GmbH’s holdings in Celestica were worth $3,656,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of the stock. Stevens Capital Management LP bought a new position in Celestica during the 2nd quarter worth approximately $140,000. Dynamic Technology Lab Private Ltd increased its stake in shares of Celestica by 5.6% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 10,957 shares of the technology company’s stock valued at $149,000 after acquiring an additional 579 shares in the last quarter. AXA increased its stake in shares of Celestica by 8.2% in the 2nd quarter. AXA now owns 15,800 shares of the technology company’s stock valued at $215,000 after acquiring an additional 1,200 shares in the last quarter. State of Tennessee Treasury Department bought a new stake in shares of Celestica in the 2nd quarter valued at $217,000. Finally, FineMark National Bank & Trust bought a new stake in shares of Celestica in the 3rd quarter valued at $307,000. Institutional investors and hedge funds own 68.51% of the company’s stock.
Shares of Celestica Inc (NYSE CLS) traded up $0.09 during mid-day trading on Friday, reaching $11.30. 664,100 shares of the company’s stock were exchanged, compared to its average volume of 591,842. The company has a market cap of $1,402.22, a price-to-earnings ratio of 14.49 and a beta of 0.72. The company has a quick ratio of 1.15, a current ratio of 2.01 and a debt-to-equity ratio of 0.13. Celestica Inc has a fifty-two week low of $9.79 and a fifty-two week high of $14.74.
Celestica declared that its board has initiated a share buyback program on Thursday, October 26th that permits the company to buyback 1,000% of outstanding shares. This buyback authorization permits the technology company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
CLS has been the subject of several research analyst reports. TD Securities lowered their price objective on shares of Celestica from $13.50 to $11.50 and set a “hold” rating for the company in a research note on Friday, October 27th. Royal Bank of Canada lowered their price objective on shares of Celestica from $15.00 to $13.00 and set a “sector perform” rating for the company in a research note on Friday, October 27th. Canaccord Genuity reiterated a “buy” rating and issued a $14.00 price objective on shares of Celestica in a research note on Friday, October 27th. TheStreet lowered shares of Celestica from a “b” rating to a “c+” rating in a research note on Thursday, November 9th. Finally, ValuEngine lowered shares of Celestica from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the stock. Celestica has a consensus rating of “Hold” and an average price target of $13.93.
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Celestica Inc is a provider of supply chain solutions. The Company operates in electronics manufacturing services business segment. The Company offers a range of services to its customers, including design and development, engineering services, supply chain management, new product introduction, component sourcing, electronics manufacturing, assembly and test, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics and after-market repair and return services.
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