King Luther Capital Management Corp Purchases New Stake in CECO Environmental Corp. (NASDAQ:CECO)

King Luther Capital Management Corp bought a new stake in CECO Environmental Corp. (NASDAQ:CECO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 1,622,349 shares of the company’s stock, valued at approximately $21,675,000. King Luther Capital Management Corp owned approximately 4.69% of CECO Environmental at the end of the most recent quarter.

Several other large investors have also made changes to their positions in CECO. Dimensional Fund Advisors LP acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at $31,331,000. Royce & Associates LP boosted its stake in CECO Environmental by 177.9% in the second 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 in the last quarter. Assenagon Asset Management S.A. bought a new position in CECO Environmental in the second quarter valued at about $8,122,000. Arrowstreet Capital Limited Partnership acquired a new position in CECO Environmental during the first quarter worth about $7,528,000. Finally, Two Sigma Advisers LP bought a new position in shares of CECO Environmental in the first quarter worth about $5,201,000. Institutional investors and hedge funds own 68.64% of the company’s stock.

Insider Buying and Selling

In related news, Director Richard F. Wallman purchased 12,000 shares of CECO Environmental stock in a transaction on Thursday, September 7th. The shares were purchased at an average price of $13.76 per share, for a total transaction of $165,120.00. Following the transaction, the director now owns 52,000 shares of the company’s stock, valued at approximately $715,520. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Richard F. Wallman purchased 12,000 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average price 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 $715,520. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard F. Wallman acquired 10,000 shares of CECO Environmental stock in a transaction dated Monday, September 18th. The stock was purchased at an average cost of $15.99 per share, for a total transaction of $159,900.00. Following the completion of the purchase, the director now owns 133,205 shares in the company, valued at approximately $2,129,947.95. The disclosure for this purchase can be found here. 15.80% of the stock is owned by corporate insiders.

CECO Environmental Price Performance

Shares of NASDAQ:CECO opened at $19.33 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.22 and a current ratio of 1.40. CECO Environmental Corp. has a 52 week low of $10.68 and a 52 week high of $20.41. The firm has a market cap of $672.94 million, a PE ratio of 38.66, a price-to-earnings-growth ratio of 1.84 and a beta of 1.21. The firm’s fifty day moving average is $16.56 and its 200-day moving average is $14.11.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of CECO Environmental from $17.00 to $18.00 and gave the company a “buy” rating in a report on Thursday, September 14th. Roth Mkm upped their price target on shares of CECO Environmental from $17.00 to $19.00 and gave the stock a “buy” rating in a report on Wednesday, August 9th. TheStreet raised CECO Environmental from a “c+” rating to a “b” rating in a report on Wednesday, November 8th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $22.00 target price on shares of CECO Environmental in a report on Wednesday, August 9th. Four research analysts have rated the stock with a buy rating, According to MarketBeat, CECO Environmental presently has a consensus rating of “Buy” and an average price target of $19.50.

CECO Environmental Company Profile

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.