The Manufacturers Life Insurance Company Increases Stake in Celestica, Inc. $CLS

The Manufacturers Life Insurance Company lifted its stake in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 925,301 shares of the technology company’s stock after buying an additional 22,280 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.80% of Celestica worth $143,904,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Golden State Wealth Management LLC boosted its holdings in shares of Celestica by 102.5% during the 2nd quarter. Golden State Wealth Management LLC now owns 164 shares of the technology company’s stock valued at $26,000 after purchasing an additional 83 shares during the last quarter. ST Germain D J Co. Inc. purchased a new position in Celestica during the 2nd quarter valued at approximately $37,000. Twin Peaks Wealth Advisors LLC bought a new stake in Celestica in the 2nd quarter worth approximately $40,000. First Horizon Advisors Inc. grew its holdings in shares of Celestica by 33.1% in the second quarter. First Horizon Advisors Inc. now owns 350 shares of the technology company’s stock valued at $55,000 after purchasing an additional 87 shares in the last quarter. Finally, Wolff Wiese Magana LLC increased its holdings in shares of Celestica by 45.6% in the 2nd quarter. Wolff Wiese Magana LLC now owns 364 shares of the technology company’s stock worth $57,000 after buying an additional 114 shares during the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Laurette T. Koellner purchased 6,000 shares of the company’s stock in a transaction on Thursday, October 30th. The shares were bought at an average cost of $341.67 per share, for a total transaction of $2,050,020.00. Following the completion of the purchase, the director directly owned 6,000 shares of the company’s stock, valued at approximately $2,050,020. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.52% of the company’s stock.

Celestica Stock Performance

NYSE:CLS opened at $351.21 on Friday. The firm has a market capitalization of $40.39 billion, a price-to-earnings ratio of 57.01 and a beta of 1.83. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.47 and a quick ratio of 0.88. Celestica, Inc. has a 1-year low of $58.05 and a 1-year high of $363.40. The company’s 50-day moving average is $305.29 and its two-hundred day moving average is $225.01.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings results on Monday, October 27th. The technology company reported $1.58 EPS for the quarter, topping the consensus estimate of $1.45 by $0.13. The business had revenue of $3.19 billion during the quarter, compared to analyst estimates of $3.01 billion. Celestica had a return on equity of 30.53% and a net margin of 6.35%.The company’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period last year, the business posted $1.04 earnings per share. Analysts forecast that Celestica, Inc. will post 4.35 EPS for the current year.

Analyst Ratings Changes

CLS has been the subject of several research analyst reports. The Goldman Sachs Group lifted their target price on Celestica from $340.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BNP Paribas reaffirmed an “outperform” rating and set a $300.00 target price on shares of Celestica in a research report on Thursday, September 25th. CICC Research assumed coverage on Celestica in a research report on Tuesday, August 19th. They issued an “outperform” rating on the stock. Barclays upped their price objective on shares of Celestica from $357.00 to $359.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $385.00 target price (up previously from $230.00) on shares of Celestica in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $336.13.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.