James Investment Research Inc. acquired a new stake in shares of Colfax Corp (NYSE:CFX) during the third quarter, Holdings Channel reports. The institutional investor acquired 57,600 shares of the industrial products company’s stock, valued at approximately $2,077,000.
Several other large investors also recently added to or reduced their stakes in CFX. SG Americas Securities LLC bought a new stake in shares of Colfax during the 2nd quarter valued at $129,000. BNP Paribas Arbitrage SA raised its stake in shares of Colfax by 182.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,874 shares of the industrial products company’s stock valued at $149,000 after purchasing an additional 3,150 shares during the period. Jane Street Group LLC bought a new stake in shares of Colfax during the 2nd quarter valued at $231,000. PNC Financial Services Group Inc. raised its stake in shares of Colfax by 31.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 1,917 shares during the period. Finally, Sustainable Insight Capital Management LLC bought a new stake in shares of Colfax during the 2nd quarter valued at $288,000. Institutional investors own 78.91% of the company’s stock.
In other news, CEO Matthew L. Trerotola sold 20,488 shares of the company’s stock in a transaction dated Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total value of $682,660.16. Following the completion of the transaction, the chief executive officer now directly owns 266,746 shares in the company, valued at approximately $8,887,976.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.20% of the stock is currently owned by corporate insiders.
CFX opened at $28.93 on Friday. Colfax Corp has a 12-month low of $26.25 and a 12-month high of $42.38. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.83 and a quick ratio of 1.37. The stock has a market capitalization of $3.29 billion, a PE ratio of 13.48, a PEG ratio of 0.92 and a beta of 1.56.
Colfax (NYSE:CFX) last posted its quarterly earnings data on Thursday, October 25th. The industrial products company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.02. Colfax had a return on equity of 6.97% and a net margin of 3.03%. The firm had revenue of $875.37 million during the quarter, compared to analysts’ expectations of $893.38 million. As a group, equities research analysts expect that Colfax Corp will post 2.25 EPS for the current year.
CFX has been the topic of a number of analyst reports. Zacks Investment Research lowered Colfax from a “hold” rating to a “sell” rating in a research note on Monday, July 9th. MED initiated coverage on Colfax in a research note on Thursday, July 12th. They set a “hold” rating and a $33.00 price objective on the stock. Deutsche Bank set a $33.00 price objective on Colfax and gave the company a “hold” rating in a research note on Thursday, July 12th. Oppenheimer reiterated a “hold” rating on shares of Colfax in a research note on Monday, August 6th. Finally, Robert W. Baird reiterated a “buy” rating and set a $38.00 price objective (up from $36.00) on shares of Colfax in a research note on Monday, August 6th. Four analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the stock. Colfax presently has an average rating of “Hold” and a consensus price target of $34.77.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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