Hillsdale Investment Management Inc. Boosts Position in CECO Environmental Corp. (NASDAQ:CECE)

Hillsdale Investment Management Inc. raised its stake in shares of CECO Environmental Corp. (NASDAQ:CECE) by 18.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 94,700 shares of the industrial products company’s stock after buying an additional 14,800 shares during the quarter. Hillsdale Investment Management Inc. owned about 0.27% of CECO Environmental worth $908,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CECE. Northern Trust Corp grew its holdings in CECO Environmental by 0.6% during the 4th quarter. Northern Trust Corp now owns 347,637 shares of the industrial products company’s stock valued at $2,346,000 after buying an additional 2,048 shares in the last quarter. Geode Capital Management LLC grew its holdings in CECO Environmental by 6.8% during the 4th quarter. Geode Capital Management LLC now owns 307,172 shares of the industrial products company’s stock valued at $2,073,000 after buying an additional 19,438 shares in the last quarter. MetLife Investment Advisors LLC purchased a new position in CECO Environmental during the 4th quarter valued at about $100,000. Metropolitan Life Insurance Co. NY purchased a new position in CECO Environmental during the 4th quarter valued at about $73,000. Finally, Macquarie Group Ltd. grew its holdings in CECO Environmental by 117.6% during the 4th quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock valued at $49,000 after buying an additional 3,948 shares in the last quarter. 67.92% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the company. Roth Capital upgraded CECO Environmental from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $10.00 in a research report on Tuesday, June 11th. Maxim Group set a $10.00 price target on CECO Environmental and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research downgraded CECO Environmental from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of CECO Environmental in a research report on Friday, August 9th. Finally, ValuEngine downgraded CECO Environmental from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $10.00.

Shares of CECE traded up $0.06 during trading hours on Friday, reaching $7.03. 91,100 shares of the company’s stock traded hands, compared to its average volume of 142,766. The stock has a market cap of $245.38 million, a PE ratio of 18.34, a price-to-earnings-growth ratio of 0.96 and a beta of 0.88. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.46. The firm’s 50 day simple moving average is $8.84 and its 200-day simple moving average is $8.26. CECO Environmental Corp. has a 12 month low of $6.44 and a 12 month high of $9.84.

CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). The business had revenue of $81.18 million for the quarter, compared to the consensus estimate of $86.67 million. CECO Environmental had a negative net margin of 1.32% and a positive return on equity of 7.57%. As a group, analysts expect that CECO Environmental Corp. will post 0.48 earnings per share for the current fiscal year.

About CECO Environmental

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.

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Institutional Ownership by Quarter for CECO Environmental (NASDAQ:CECE)

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