Foundry Partners LLC Increases Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Foundry Partners LLC increased its position in CECO Environmental Corp. (NASDAQ:CECO) by 66.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 151,470 shares of the company’s stock after acquiring an additional 60,430 shares during the period. Foundry Partners LLC’s holdings in CECO Environmental were worth $4,579,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in CECO Environmental by 185.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 235,497 shares of the company’s stock valued at $6,641,000 after purchasing an additional 152,893 shares during the last quarter. FMR LLC grew its stake in CECO Environmental by 23.5% in the 3rd quarter. FMR LLC now owns 786,308 shares of the company’s stock valued at $22,174,000 after acquiring an additional 149,777 shares during the last quarter. Centiva Capital LP purchased a new position in CECO Environmental during the 3rd quarter valued at about $287,000. HighTower Advisors LLC raised its position in CECO Environmental by 25.4% during the third quarter. HighTower Advisors LLC now owns 17,669 shares of the company’s stock worth $501,000 after acquiring an additional 3,581 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new stake in shares of CECO Environmental in the third quarter valued at about $76,000. 68.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CECO has been the subject of a number of recent research reports. HC Wainwright reissued a “neutral” rating on shares of CECO Environmental in a research note on Wednesday, February 26th. Craig Hallum boosted their price target on CECO Environmental from $34.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Needham & Company LLC restated a “buy” rating and issued a $33.00 price objective on shares of CECO Environmental in a research report on Wednesday, February 26th. Finally, Northland Securities lifted their price objective on CECO Environmental from $35.00 to $38.00 and gave the stock an “outperform” rating in a research report on Friday, December 20th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $36.20.

CECO Environmental Price Performance

CECO stock opened at $19.80 on Friday. The stock has a market capitalization of $692.80 million, a price-to-earnings ratio of 60.00, a price-to-earnings-growth ratio of 1.39 and a beta of 1.43. The company has a quick ratio of 1.12, a current ratio of 1.30 and a debt-to-equity ratio of 0.50. CECO Environmental Corp. has a 52-week low of $18.44 and a 52-week high of $35.16. The stock’s fifty day simple moving average is $24.83 and its 200-day simple moving average is $27.53.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.05. CECO Environmental had a return on equity of 11.12% and a net margin of 2.16%. The firm had revenue of $158.60 million for the quarter, compared to analyst estimates of $156.09 million. During the same period last year, the company earned $0.28 EPS. The firm’s quarterly revenue was up 3.2% on a year-over-year basis. Equities research analysts expect that CECO Environmental Corp. will post 0.67 EPS for the current year.

Insider Buying and Selling

In other news, Director Richard F. Wallman acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were bought at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the acquisition, the director now directly owns 207,117 shares in the company, valued at $5,208,992.55. This trade represents a 0.49 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter K. Johansson sold 22,500 shares of CECO Environmental stock in a transaction dated Monday, March 31st. The shares were sold at an average price of $22.80, for a total value of $513,000.00. Following the completion of the transaction, the insider now directly owns 62,160 shares in the company, valued at $1,417,248. This represents a 26.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.90% of the company’s stock.

About CECO Environmental

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.