Shares of SIFCO Industries, Inc. (NYSE:SIF – Get Free Report) shot up 3.2% during mid-day trading on Thursday . The company traded as high as $22.46 and last traded at $21.90. Approximately 208,916 shares traded hands during trading, an increase of 131% from the average daily volume of 90,317 shares. The stock had previously closed at $21.23.
SIFCO Industries Price Performance
The firm has a fifty day simple moving average of $20.52 and a 200 day simple moving average of $14.15. The company has a market capitalization of $136.96 million, a price-to-earnings ratio of -30.85 and a beta of 0.67.
Institutional Investors Weigh In On SIFCO Industries
Institutional investors have recently added to or reduced their stakes in the stock. Empowered Funds LLC acquired a new stake in SIFCO Industries in the 4th quarter valued at $34,000. DRW Securities LLC acquired a new position in SIFCO Industries during the fourth quarter worth $86,000. Citadel Advisors LLC acquired a new position in SIFCO Industries during the third quarter worth $143,000. Corsair Capital Management L.P. purchased a new position in SIFCO Industries during the first quarter valued at $209,000. Finally, Wealthspire Advisors LLC purchased a new position in SIFCO Industries during the fourth quarter valued at $335,000. Institutional investors and hedge funds own 24.20% of the company’s stock.
About SIFCO Industries
SIFCO Industries, Inc is a specialty metal component manufacturer serving aerospace and industrial markets. The company operates through two primary business segments: Forged and Machined Products, which focuses on producing custom forgings, rings, discs and machined components; and Industrial Products, which supplies forgings, fasteners and assemblies for energy, general industrial and defense customers. SIFCO Industries emphasizes high-precision engineering, material traceability and quality assurance throughout its manufacturing processes.
The company’s product portfolio includes open-die and closed-die forgings, CNC-machined parts, forging stock and subassemblies.
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