Colfax Corp (NYSE:CFX) is Cove Street Capital LLC’s 8th Largest Position

Cove Street Capital LLC raised its holdings in Colfax Corp (NYSE:CFX) by 1.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 913,925 shares of the industrial products company’s stock after buying an additional 17,411 shares during the period. Colfax accounts for about 3.3% of Cove Street Capital LLC’s portfolio, making the stock its 8th largest holding. Cove Street Capital LLC’s holdings in Colfax were worth $27,126,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. PNC Financial Services Group Inc. increased its position in Colfax by 12.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 5,808 shares of the industrial products company’s stock valued at $172,000 after acquiring an additional 644 shares during the period. Front Street Capital Management Inc. increased its position in shares of Colfax by 0.7% during the 4th quarter. Front Street Capital Management Inc. now owns 118,456 shares of the industrial products company’s stock valued at $2,476,000 after purchasing an additional 845 shares during the last quarter. Macquarie Group Ltd. purchased a new stake in shares of Colfax during the 4th quarter valued at about $27,000. Bridges Investment Management Inc. increased its holdings in Colfax by 4.2% in the 1st quarter. Bridges Investment Management Inc. now owns 34,410 shares of the industrial products company’s stock worth $1,021,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Colfax by 13.7% in the 4th quarter. Stifel Financial Corp now owns 11,905 shares of the industrial products company’s stock worth $253,000 after purchasing an additional 1,430 shares during the period. Hedge funds and other institutional investors own 93.31% of the company’s stock.

NYSE CFX opened at $26.67 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.53 and a debt-to-equity ratio of 1.12. The company has a market cap of $3.18 billion, a PE ratio of 11.55, a PEG ratio of 0.84 and a beta of 1.61. Colfax Corp has a one year low of $18.95 and a one year high of $37.05.

Colfax (NYSE:CFX) last posted its earnings results on Wednesday, May 8th. The industrial products company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.04. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1.04 billion. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS. On average, sell-side analysts expect that Colfax Corp will post 2.58 EPS for the current year.

CFX has been the subject of several recent analyst reports. Oppenheimer restated a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Raymond James restated a “buy” rating and issued a $21.00 price target on shares of Colfax in a research note on Monday, April 22nd. Gabelli restated a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. ValuEngine downgraded Colfax from a “sell” rating to a “strong sell” rating in a research note on Wednesday, May 8th. Finally, Longbow Research restated a “buy” rating and issued a $38.00 price target on shares of Colfax in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. Colfax currently has a consensus rating of “Buy” and an average target price of $29.52.

In other news, insider Shyam Kambeyanda sold 11,764 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $26.27, for a total transaction of $309,040.28. Following the completion of the transaction, the insider now directly owns 51,263 shares in the company, valued at approximately $1,346,679.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.00% of the stock is currently owned by corporate insiders.

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Colfax Company Profile

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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