CECO Environmental Corp. (CECE) Director Acquires $181,750.00 in Stock
CECO Environmental Corp. (NASDAQ:CECE) Director Jason Dezwirek purchased 25,000 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was bought at an average cost of $7.27 per share, for a total transaction of $181,750.00. Following the acquisition, the director now directly owns 1,410,616 shares of the company’s stock, valued at approximately $10,255,178.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of CECO Environmental Corp. (NASDAQ:CECE) traded up 4.94% during mid-day trading on Wednesday, reaching $7.44. 40,464 shares of the company’s stock traded hands. CECO Environmental Corp. has a 52 week low of $7.05 and a 52 week high of $14.88. The firm’s market cap is $256.59 million. The company’s 50 day moving average is $9.44 and its 200-day moving average is $10.35.
CECO Environmental Corp. (NASDAQ:CECE) last announced its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by $0.11. CECO Environmental Corp. had a negative net margin of 10.27% and a positive return on equity of 14.60%. The business had revenue of $93.90 million during the quarter, compared to the consensus estimate of $99.09 million. During the same period in the previous year, the business posted $0.21 earnings per share. CECO Environmental Corp.’s revenue was down 16.4% compared to the same quarter last year. Equities analysts expect that CECO Environmental Corp. will post $0.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.075 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.30 dividend on an annualized basis and a yield of 4.23%. CECO Environmental Corp.’s payout ratio is presently -25.86%.
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A number of institutional investors have recently made changes to their positions in CECE. Bank of New York Mellon Corp boosted its position in shares of CECO Environmental Corp. by 9.6% in the first quarter. Bank of New York Mellon Corp now owns 257,156 shares of the industrial products company’s stock worth $2,702,000 after buying an additional 22,464 shares during the last quarter. Boston Partners boosted its position in shares of CECO Environmental Corp. by 27.9% in the first quarter. Boston Partners now owns 848,552 shares of the industrial products company’s stock worth $8,918,000 after buying an additional 185,100 shares during the last quarter. American Century Companies Inc. acquired a new position in shares of CECO Environmental Corp. during the first quarter worth about $1,203,000. LSV Asset Management acquired a new position in shares of CECO Environmental Corp. during the first quarter worth about $104,000. Finally, Punch & Associates Investment Management Inc. boosted its position in shares of CECO Environmental Corp. by 1.0% in the first quarter. Punch & Associates Investment Management Inc. now owns 837,488 shares of the industrial products company’s stock worth $8,802,000 after buying an additional 8,010 shares during the last quarter. 69.32% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on CECE. Zacks Investment Research raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub raised CECO Environmental Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, July 11th. Needham & Company LLC raised CECO Environmental Corp. from a “buy” rating to a “strong-buy” rating and upped their price target for the company from $9.51 to $13.00 in a report on Thursday, July 6th. Finally, William Blair cut CECO Environmental Corp. from an “outperform” rating to a “market perform” rating in a report on Friday, August 11th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target 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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