BB&T Securities LLC maintained its stake in shares of CECO Environmental Corp. (NASDAQ:CECE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,317 shares of the industrial products company’s stock at the close of the 2nd quarter. BB&T Securities LLC owned approximately 0.09% of CECO Environmental Corp. worth $269,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of CECE. Teachers Advisors LLC raised its holdings in CECO Environmental Corp. by 96.2% in the 4th quarter. Teachers Advisors LLC now owns 96,787 shares of the industrial products company’s stock valued at $1,350,000 after buying an additional 47,450 shares during the period. Bank of Montreal Can raised its holdings in CECO Environmental Corp. by 557.5% in the 1st quarter. Bank of Montreal Can now owns 98,515 shares of the industrial products company’s stock valued at $1,036,000 after buying an additional 83,532 shares during the period. Russell Investments Group Ltd. raised its holdings in CECO Environmental Corp. by 342.2% in the 1st quarter. Russell Investments Group Ltd. now owns 36,191 shares of the industrial products company’s stock valued at $380,000 after buying an additional 28,007 shares during the period. LSV Asset Management purchased a new stake in CECO Environmental Corp. in the 1st quarter valued at about $104,000. Finally, American Century Companies Inc. purchased a new stake in CECO Environmental Corp. in the 1st quarter valued at about $1,203,000. Hedge funds and other institutional investors own 67.94% of the company’s stock.
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In related news, Director Jonathan Pollack bought 6,800 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The shares were acquired at an average cost of $7.31 per share, for a total transaction of $49,708.00. Following the acquisition, the director now owns 26,146 shares in the company, valued at approximately $191,127.26. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Jason Dezwirek bought 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The shares were bought at an average price of $7.27 per share, for a total transaction of $181,750.00. Following the completion of the acquisition, the director now owns 1,410,616 shares in the company, valued at approximately $10,255,178.32. The disclosure for this purchase can be found here. Company insiders own 14.30% of the company’s stock.
Several brokerages recently issued reports on CECE. ValuEngine lowered shares of CECO Environmental Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered shares of CECO Environmental Corp. from a “hold” rating to a “strong sell” rating in a report on Monday, August 14th. William Blair lowered shares of CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, August 11th. BidaskClub lowered shares of CECO Environmental Corp. from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. Finally, Needham & Company LLC upgraded shares of CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and boosted their price target for the stock from $9.51 to $13.00 in a research note on Thursday, July 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $13.25.
Shares of CECO Environmental Corp. (NASDAQ CECE) traded up 1.82% during mid-day trading on Thursday, reaching $8.38. 159,035 shares of the company’s stock were exchanged. The stock has a 50 day moving average price of $7.90 and a 200 day moving average price of $9.57. The stock’s market cap is $289.01 million. CECO Environmental Corp. has a 52 week low of $6.94 and a 52 week high of $14.88.
CECO Environmental Corp. (NASDAQ:CECE) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.11). The firm had revenue of $93.90 million during 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 for the quarter was down 16.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 earnings per share. Equities research analysts predict that CECO Environmental Corp. will post $0.59 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.075 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 annualized dividend and a dividend yield of 3.65%. CECO Environmental Corp.’s payout ratio is currently -25.86%.
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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