SIFCO Industries (NYSE:SIF) Stock Price Down 5.2% – Here’s Why

Shares of SIFCO Industries, Inc. (NYSE:SIF) dropped 5.2% during trading on Friday . The stock traded as low as $6.16 and last traded at $6.16. Approximately 4,602 shares traded hands during mid-day trading, a decline of 62% from the average daily volume of 12,210 shares. The stock had previously closed at $6.50.

SIFCO Industries Trading Down 5.2%

The company has a market capitalization of $38.03 million, a PE ratio of -8.68 and a beta of 0.88. The firm’s 50-day simple moving average is $6.22 and its 200-day simple moving average is $6.41.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SIF. Thompson Davis & CO. Inc. purchased a new stake in shares of SIFCO Industries in the 2nd quarter worth $38,000. Carnegie Investment Counsel purchased a new position in shares of SIFCO Industries during the second quarter valued at $63,000. Finally, Citadel Advisors LLC bought a new stake in shares of SIFCO Industries in the third quarter valued at about $143,000. 24.20% of the stock is currently owned by hedge funds and other institutional investors.

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.