First Trust Advisors LP lowered its stake in shares of CECO Environmental Corp. (NASDAQ:CECE) by 26.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,649 shares of the industrial products company’s stock after selling 7,844 shares during the period. First Trust Advisors LP owned 0.06% of CECO Environmental Corp. worth $228,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. LSV Asset Management bought a new position in shares of CECO Environmental Corp. during the first quarter valued at $104,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in CECO Environmental Corp. by 3,683.5% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,064 shares of the industrial products company’s stock worth $141,000 after buying an additional 9,798 shares during the period. A.R.T. Advisors LLC purchased a new stake in shares of CECO Environmental Corp. during the fourth quarter valued at approximately $153,000. Kirr Marbach & Co. LLC IN boosted its stake in shares of CECO Environmental Corp. by 0.9% in the first quarter. Kirr Marbach & Co. LLC IN now owns 16,330 shares of the industrial products company’s stock valued at $172,000 after buying an additional 150 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of CECO Environmental Corp. by 11.5% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,505 shares of the industrial products company’s stock valued at $300,000 after buying an additional 2,216 shares during the last quarter. Institutional investors own 68.85% of the company’s stock.
CECO Environmental Corp. (NASDAQ CECE) opened at 9.77 on Tuesday. The stock has a 50 day moving average price of $9.40 and a 200-day moving average price of $11.39. CECO Environmental Corp. has a 12-month low of $8.73 and a 12-month high of $14.88. The stock’s market cap is $336.68 million.
CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, May 10th. The industrial products company reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.02. The firm had revenue of $92.70 million during the quarter, compared to analyst estimates of $97.10 million. CECO Environmental Corp. had a positive return on equity of 15.78% and a negative net margin of 10.15%. CECO Environmental Corp.’s quarterly revenue was down 10.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.18 earnings per share. On average, equities analysts expect that CECO Environmental Corp. will post $0.83 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Friday, June 16th were issued a dividend of $0.075 per share. This represents a $0.30 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Wednesday, June 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is presently -25.00%.
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Several brokerages recently commented on CECE. Needham & Company LLC upgraded 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 report on Thursday, July 6th. BidaskClub raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, July 11th. Four research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company’s stock. CECO Environmental Corp. has a consensus rating of “Hold” and an average target price of $13.25.
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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