Martin & Co. Inc. TN acquired a new stake in shares of CECO Environmental Corp. (NASDAQ:CECO – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 382,551 shares of the company’s stock, valued at approximately $5,111,000. CECO Environmental makes up about 1.3% of Martin & Co. Inc. TN’s portfolio, making the stock its 24th largest position.
A number of other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP purchased a new position in shares of CECO Environmental during the 2nd quarter valued at about $31,331,000. King Luther Capital Management Corp purchased a new position in shares of CECO Environmental during the 2nd quarter valued at about $21,675,000. Royce & Associates LP raised its stake in shares of CECO Environmental by 177.9% during the 2nd quarter. Royce & Associates LP now owns 819,724 shares of the company’s stock valued at $10,952,000 after buying an additional 524,724 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of CECO Environmental during the 2nd quarter valued at about $8,122,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of CECO Environmental during the 1st quarter valued at about $7,528,000. Hedge funds and other institutional investors own 68.64% of the company’s stock.
Analysts Set New Price Targets
CECO has been the topic of a number of analyst reports. TheStreet upgraded CECO Environmental from a “c+” rating to a “b” rating in a research report on Wednesday, November 8th. Roth Mkm raised their target price on CECO Environmental from $17.00 to $19.00 and gave the company a “buy” rating in a research report on Wednesday, August 9th. Needham & Company LLC raised their target price on CECO Environmental from $17.00 to $18.00 and gave the company a “buy” rating in a research report on Thursday, September 14th. Finally, HC Wainwright restated a “buy” rating and set a $22.00 target price on shares of CECO Environmental in a research report on Wednesday, August 9th. Four research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $19.50.
Insider Buying and Selling
In other news, Director Richard F. Wallman acquired 12,000 shares of the stock in a transaction that occurred on Thursday, September 7th. The shares were bought at an average cost of $13.76 per share, for a total transaction of $165,120.00. Following the acquisition, the director now owns 52,000 shares in the company, valued at approximately $715,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Richard F. Wallman bought 10,000 shares of the stock in a transaction dated Monday, September 18th. The shares were acquired at an average cost of $15.99 per share, for a total transaction of $159,900.00. Following the acquisition, the director now directly owns 133,205 shares in the company, valued at approximately $2,129,947.95. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Richard F. Wallman bought 12,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were bought at an average price of $13.76 per share, for a total transaction of $165,120.00. Following the completion of the acquisition, the director now owns 52,000 shares in the company, valued at $715,520. The disclosure for this purchase can be found here. 15.80% of the stock is currently owned by insiders.
CECO Environmental Price Performance
CECO stock traded up $0.45 during trading on Monday, hitting $19.77. The stock had a trading volume of 28,800 shares, compared to its average volume of 336,070. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.40 and a quick ratio of 1.22. CECO Environmental Corp. has a twelve month low of $10.68 and a twelve month high of $20.41. The stock has a market capitalization of $688.19 million, a P/E ratio of 39.38, a PEG ratio of 1.84 and a beta of 1.21. The company’s 50-day moving average price is $16.46 and its two-hundred day moving average price is $14.05.
About CECO Environmental
CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. The company operates in two segments: Engineered Systems Segment and Industrial Process Solutions Segment. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions and water and wastewater treatment solutions, as well as consultation services.
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