Foundry Partners LLC Has $3.38 Million Stock Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Foundry Partners LLC cut its stake in CECO Environmental Corp. (NASDAQ:CECO) by 20.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 116,980 shares of the company’s stock after selling 30,745 shares during the quarter. Foundry Partners LLC owned approximately 0.33% of CECO Environmental worth $3,375,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. CWM LLC increased its position in CECO Environmental by 45.3% during the second quarter. CWM LLC now owns 2,270 shares of the company’s stock worth $65,000 after buying an additional 708 shares during the last quarter. EntryPoint Capital LLC bought a new stake in CECO Environmental during the first quarter valued at about $72,000. SG Americas Securities LLC bought a new stake in CECO Environmental during the second quarter valued at about $201,000. Kessler Investment Group LLC boosted its holdings in CECO Environmental by 27.8% during the second quarter. Kessler Investment Group LLC now owns 7,166 shares of the company’s stock valued at $207,000 after acquiring an additional 1,560 shares during the period. Finally, Arizona State Retirement System bought a new stake in CECO Environmental during the second quarter valued at about $239,000. 68.08% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at CECO Environmental

In other news, Director Richard F. Wallman acquired 10,000 shares of the company’s stock in a transaction dated Friday, August 30th. The stock was bought at an average price of $28.77 per share, with a total value of $287,700.00. Following the completion of the acquisition, the director now owns 62,000 shares in the company, valued at approximately $1,783,740. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 16.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Northland Securities upped their price target on shares of CECO Environmental from $28.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday, August 1st. Craig Hallum increased their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm increased their target price on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Needham & Company LLC increased their target price on shares of CECO Environmental from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Finally, HC Wainwright increased their target price on shares of CECO Environmental from $30.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $34.80.

CECO Environmental Stock Down 2.1 %

Shares of CECO opened at $24.78 on Friday. The stock has a market cap of $865.71 million, a price-to-earnings ratio of 70.80, a P/E/G ratio of 2.08 and a beta of 1.33. The company has a quick ratio of 1.17, a current ratio of 1.36 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 12 month low of $13.29 and a 12 month high of $31.55. The company has a 50-day moving average price of $28.25 and a two-hundred day moving average price of $25.15.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $137.50 million during the quarter, compared to analyst estimates of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The company’s revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. Equities analysts predict that CECO Environmental Corp. will post 0.93 EPS for the current fiscal year.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. 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 comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.