Minerva Advisors LLC maintained its position in CECO Environmental Corp. (NASDAQ:CECE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211,211 shares of the company’s stock at the end of the second quarter. CECO Environmental Corp. comprises approximately 1.3% of Minerva Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Minerva Advisors LLC’s holdings in CECO Environmental Corp. were worth $1,846,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Green Square Capital LLC raised its position in CECO Environmental Corp. by 13.8% in the second quarter. Green Square Capital LLC now owns 65,822 shares of the company’s stock valued at $575,000 after buying an additional 8,000 shares during the last quarter. Bank of Montreal Can purchased a new position in CECO Environmental Corp. during the second quarter valued at approximately $106,000. Kirr Marbach & Co. LLC IN raised its position in CECO Environmental Corp. by 2.4% in the second quarter. Kirr Marbach & Co. LLC IN now owns 19,435 shares of the company’s stock valued at $170,000 after buying an additional 450 shares during the last quarter. Manchester Capital Management LLC raised its position in CECO Environmental Corp. by 30.0% in the second quarter. Manchester Capital Management LLC now owns 66,733 shares of the company’s stock valued at $583,000 after buying an additional 15,384 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. raised its position in CECO Environmental Corp. by 13.1% in the second quarter. Punch & Associates Investment Management Inc. now owns 854,688 shares of the company’s stock valued at $7,470,000 after buying an additional 98,754 shares during the last quarter. 53.82% of the stock is owned by institutional investors.
CECO Environmental Corp. (NASDAQ:CECE) traded down 0.09% during mid-day trading on Friday, hitting $10.82. The company had a trading volume of 63,073 shares. CECO Environmental Corp. has a 52-week low of $5.60 and a 52-week high of $11.75. The company has a 50-day moving average price of $11.02 and a 200 day moving average price of $8.71. The company’s market capitalization is $367.46 million.
CECO Environmental Corp. (NASDAQ:CECE) last announced its earnings results on Tuesday, August 9th. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. CECO Environmental Corp. had a positive return on equity of 11.06% and a negative net margin of 0.18%. The company earned $112.30 million during the quarter, compared to analysts’ expectations of $107.03 million. During the same period last year, the business posted $0.32 EPS. CECO Environmental Corp.’s revenue for the quarter was up 29.1% on a year-over-year basis. On average, analysts forecast that CECO Environmental Corp. will post $0.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Friday, September 16th were issued a dividend of $0.066 per share. This represents a $0.26 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date was Wednesday, September 14th. CECO Environmental Corp.’s dividend payout ratio (DPR) is -520.00%.
Several research firms have commented on CECE. Zacks Investment Research raised shares of CECO Environmental Corp. from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Monday, September 19th. Needham & Company LLC boosted their target price on shares of CECO Environmental Corp. from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $10.93.
About CECO Environmental Corp.
CECO Environmental Corp. is a provider of engineered technologies to the environmental, energy, and fluid handling and filtration industrial segments. The Company focuses on engineering, designing, building and installing systems that capture, clean and destroy airborne contaminants from industrial facilities, as well as equipment that controls emissions from such facilities, and fluid handling and filtration systems.
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