Sasco Capital Inc. CT Makes New $11.77 Million Investment in Colfax Corp (NYSE:CFX)

Sasco Capital Inc. CT acquired a new position in shares of Colfax Corp (NYSE:CFX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 420,040 shares of the industrial products company’s stock, valued at approximately $11,774,000. Sasco Capital Inc. CT owned about 0.36% of Colfax as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Holocene Advisors LP increased its holdings in Colfax by 34.0% during the 2nd quarter. Holocene Advisors LP now owns 27,887 shares of the industrial products company’s stock worth $782,000 after purchasing an additional 7,081 shares during the last quarter. Cardinal Capital Management LLC CT increased its holdings in shares of Colfax by 2,068.0% in the 2nd quarter. Cardinal Capital Management LLC CT now owns 2,501,056 shares of the industrial products company’s stock valued at $70,105,000 after acquiring an additional 2,385,691 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Colfax by 165.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 16,176 shares of the industrial products company’s stock valued at $454,000 after acquiring an additional 10,077 shares during the last quarter. ETRADE Capital Management LLC bought a new stake in shares of Colfax in the 2nd quarter valued at approximately $592,000. Finally, AXA bought a new stake in shares of Colfax in the 2nd quarter valued at approximately $650,000. Institutional investors own 95.92% of the company’s stock.

NYSE:CFX traded down $0.08 during midday trading on Monday, reaching $30.51. 1,416,498 shares of the company traded hands, compared to its average volume of 1,080,336. Colfax Corp has a twelve month low of $18.95 and a twelve month high of $37.05. The firm has a market capitalization of $3.59 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 1.29 and a beta of 1.60. The company has a debt-to-equity ratio of 1.29, a current ratio of 2.27 and a quick ratio of 1.90. The company has a fifty day moving average price of $26.95 and a 200 day moving average price of $27.54.

Colfax (NYSE:CFX) last released its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.04. Colfax had a positive return on equity of 8.69% and a negative net margin of 11.76%. The business had revenue of $908.65 million during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue for the quarter was up 62.0% compared to the same quarter last year. On average, equities research analysts forecast that Colfax Corp will post 1.97 earnings per share for the current fiscal year.

CFX has been the subject of a number of research analyst reports. KeyCorp lowered their price target on Colfax from $40.00 to $37.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Deutsche Bank set a $28.00 price target on Colfax and gave the company a “hold” rating in a report on Wednesday, July 10th. Seaport Global Securities reiterated a “buy” rating on shares of Colfax in a report on Monday, August 12th. Morgan Stanley lowered their price target on Colfax from $30.00 to $29.00 and set an “equal weight” rating for the company in a report on Wednesday, July 10th. Finally, Stifel Nicolaus set a $35.00 price target on Colfax and gave the company a “buy” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company’s stock. Colfax presently has a consensus rating of “Buy” and an average target price of $29.75.

In other news, CEO Matthew L. Trerotola sold 18,589 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $28.51, for a total value of $529,972.39. Following the completion of the sale, the chief executive officer now owns 225,604 shares in the company, valued at $6,431,970.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Christopher M. Hix sold 4,750 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $27.08, for a total value of $128,630.00. Following the completion of the sale, the chief financial officer now owns 29,841 shares of the company’s stock, valued at approximately $808,094.28. The disclosure for this sale can be found here. Insiders own 12.00% of the company’s stock.

Colfax 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.

Featured Story: What are Institutional Investors?

Want to see what other hedge funds are holding CFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colfax Corp (NYSE:CFX).

Institutional Ownership by Quarter for Colfax (NYSE:CFX)

Receive News & Ratings for Colfax Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Colfax and related companies with MarketBeat.com's FREE daily email newsletter.