Private Management Group Inc. lessened its stake in shares of Colfax Corporation (NYSE:CFX) by 27.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,211 shares of the industrial products company’s stock after selling 9,710 shares during the period. Private Management Group Inc.’s holdings in Colfax Corporation were worth $1,032,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. grew its stake in shares of Colfax Corporation by 4,167.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,603 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 2,542 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Colfax Corporation by 10.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,533 shares of the industrial products company’s stock worth $139,000 after acquiring an additional 323 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Colfax Corporation in the first quarter worth $214,000. Alambic Investment Management L.P. acquired a new stake in shares of Colfax Corporation in the first quarter worth $254,000. Finally, Laurion Capital Management LP acquired a new stake in shares of Colfax Corporation in the first quarter worth $263,000. Institutional investors own 75.23% of the company’s stock.
Several research analysts recently commented on CFX shares. Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Colfax Corporation in a research report on Tuesday, May 23rd. CIBC reissued a “hold” rating on shares of Colfax Corporation in a report on Wednesday, May 24th. Seaport Global Securities reissued a “buy” rating on shares of Colfax Corporation in a report on Wednesday, June 14th. BidaskClub raised Colfax Corporation from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Finally, Zacks Investment Research cut Colfax Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $46.44.
Shares of Colfax Corporation (NYSE:CFX) opened at 41.37 on Friday. Colfax Corporation has a 12 month low of $28.16 and a 12 month high of $42.75. The company has a 50-day moving average price of $39.95 and a 200-day moving average price of $39.66. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of 32.55 and a beta of 1.35.
Colfax Corporation (NYSE:CFX) last released its earnings results on Friday, July 28th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.43. Colfax Corporation had a return on equity of 6.30% and a net margin of 4.35%. The business had revenue of $965.83 million during the quarter, compared to the consensus estimate of $940.31 million. During the same period last year, the business posted $0.41 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that Colfax Corporation will post $1.73 EPS for the current fiscal year.
In other news, EVP Daniel A. Pryor sold 3,574 shares of Colfax Corporation stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $41.13, for a total value of $146,998.62. Following the completion of the transaction, the executive vice president now directly owns 40,224 shares in the company, valued at $1,654,413.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen Wittig sold 29,189 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $39.30, for a total value of $1,147,127.70. Following the transaction, the senior vice president now owns 15,479 shares of the company’s stock, valued at $608,324.70. The disclosure for this sale can be found here. Insiders sold 33,202 shares of company stock valued at $1,312,182 over the last three months. Company insiders own 10.60% of the company’s stock.
Colfax Corporation Profile
Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.
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