Clinton Group Inc. Acquires Shares of 8,107 Colfax Corporation (NYSE:CFX)

Clinton Group Inc. acquired a new position in shares of Colfax Corporation (NYSE:CFX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 8,107 shares of the industrial products company’s stock, valued at approximately $319,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in CFX. Nationwide Fund Advisors raised its stake in shares of Colfax Corporation by 68.7% during the 1st quarter. Nationwide Fund Advisors now owns 20,288 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 8,261 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Colfax Corporation by 0.6% during the 1st quarter. Bank of New York Mellon Corp now owns 345,335 shares of the industrial products company’s stock worth $13,559,000 after purchasing an additional 1,978 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Colfax Corporation by 13.8% during the 1st quarter. Ameriprise Financial Inc. now owns 171,863 shares of the industrial products company’s stock worth $6,747,000 after purchasing an additional 20,891 shares in the last quarter. Parametric Portfolio Associates LLC grew its holdings in shares of Colfax Corporation by 32.3% during the 1st quarter. Parametric Portfolio Associates LLC now owns 127,174 shares of the industrial products company’s stock worth $4,993,000 after purchasing an additional 31,035 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Colfax Corporation by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 17,028 shares of the industrial products company’s stock worth $668,000 after purchasing an additional 635 shares in the last quarter. Hedge funds and other institutional investors own 75.22% of the company’s stock.

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In other Colfax Corporation news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $41.13, for a total value of $146,998.62. Following the sale, the executive vice president now directly owns 40,224 shares in the company, valued at approximately $1,654,413.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen Wittig sold 29,189 shares of Colfax Corporation stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $39.30, for a total transaction of $1,147,127.70. Following the completion of the sale, the senior vice president now owns 15,479 shares in the company, valued at $608,324.70. The disclosure for this sale can be found here. Insiders have sold a total of 33,202 shares of company stock worth $1,312,182 in the last quarter. Corporate insiders own 10.60% of the company’s stock.

Several brokerages have recently weighed in on CFX. Stifel Nicolaus reissued a “buy” rating and set a $50.00 price objective on shares of Colfax Corporation in a report on Tuesday. Zacks Investment Research lowered Colfax Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday. KeyCorp reiterated a “buy” rating and issued a $46.00 price objective on shares of Colfax Corporation in a research report on Tuesday, September 26th. Cowen and Company reiterated a “buy” rating and issued a $50.00 price objective on shares of Colfax Corporation in a research report on Tuesday, September 26th. Finally, Citigroup Inc. restated a “sell” rating and set a $40.00 target price (up previously from $39.00) on shares of Colfax Corporation in a research report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. Colfax Corporation presently has a consensus rating of “Hold” and an average price target of $46.50.

Colfax Corporation (NYSE:CFX) opened at 42.50 on Wednesday. The stock has a market cap of $5.23 billion, a P/E ratio of 33.44 and a beta of 1.32. The stock has a 50 day moving average price of $41.26 and a 200-day moving average price of $40.18. Colfax Corporation has a 52 week low of $28.83 and a 52 week high of $42.93.

Colfax Corporation (NYSE:CFX) last posted its quarterly earnings results on Friday, July 28th. The industrial products company reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. The firm had revenue of $965.83 million for the quarter, compared to analysts’ expectations of $940.31 million. Colfax Corporation had a net margin of 4.35% and a return on equity of 6.30%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, equities analysts anticipate that Colfax Corporation will post $1.72 EPS for the current fiscal year.

Colfax Corporation Profile

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.

Institutional Ownership by Quarter for Colfax Corporation (NYSE:CFX)

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