Dimensional Fund Advisors LP raised its stake in CPI Aerostructures, Inc. (NYSEAMERICAN:CVU) by 26.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 389,813 shares of the aerospace company’s stock after acquiring an additional 82,742 shares during the quarter. Dimensional Fund Advisors LP owned approximately 4.41% of CPI Aerostructures worth $3,664,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Penn Capital Management Co. Inc. grew its holdings in shares of CPI Aerostructures by 17.3% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 313,801 shares of the aerospace company’s stock valued at $2,950,000 after purchasing an additional 46,262 shares during the last quarter. Russell Investments Group Ltd. lifted its position in CPI Aerostructures by 8.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 81,803 shares of the aerospace company’s stock valued at $769,000 after acquiring an additional 6,300 shares during the period. Boston Partners lifted its position in CPI Aerostructures by 14.1% during the 2nd quarter. Boston Partners now owns 51,024 shares of the aerospace company’s stock valued at $480,000 after acquiring an additional 6,300 shares during the period. Benchmark Capital Advisors increased its stake in CPI Aerostructures by 1.5% during the 2nd quarter. Benchmark Capital Advisors now owns 40,400 shares of the aerospace company’s stock valued at $380,000 after purchasing an additional 600 shares in the last quarter. Finally, Northern Trust Corp increased its stake in CPI Aerostructures by 3.0% during the 2nd quarter. Northern Trust Corp now owns 21,897 shares of the aerospace company’s stock valued at $205,000 after purchasing an additional 634 shares in the last quarter.
Shares of CPI Aerostructures, Inc. (NYSEAMERICAN CVU) traded up $0.05 during trading on Monday, hitting $9.20. The stock had a trading volume of 23,332 shares, compared to its average volume of 49,903. CPI Aerostructures, Inc. has a 1-year low of $5.55 and a 1-year high of $10.15.
CPI Aerostructures (NYSEAMERICAN:CVU) last issued its quarterly earnings data on Wednesday, November 8th. The aerospace company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.03. The company had revenue of $20.71 million during the quarter, compared to analysts’ expectations of $22.03 million. CPI Aerostructures had a return on equity of 9.55% and a net margin of 8.19%. The firm’s revenue for the quarter was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.19 earnings per share.
A number of research firms have recently commented on CVU. Zacks Investment Research upgraded shares of CPI Aerostructures from a “hold” rating to a “buy” rating and set a $9.75 price target on the stock in a report on Thursday, August 24th. B. Riley reiterated a “buy” rating and issued a $12.00 price target on shares of CPI Aerostructures in a report on Tuesday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. CPI Aerostructures currently has an average rating of “Buy” and an average target price of $11.00.
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CPI Aerostructures Profile
CPI Aerostructures, Inc (CPI Aero) is a supplier of aircraft parts for fixed wing aircraft and helicopters in both the commercial and defense markets in the United States. The Company is a manufacturer of structural aircraft parts and aerosystems. It is also a contractor to the United States Department of Defense, primarily the Air Force.
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