Schwartz Investment Counsel Inc. decreased its position in shares of Colfax Co. (NYSE:CFX) by 21.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 272,000 shares of the industrial products company’s stock after selling 75,000 shares during the period. Schwartz Investment Counsel Inc. owned 0.22% of Colfax worth $8,677,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Gamco Investors INC. ET AL bought a new stake in Colfax during the 1st quarter worth approximately $306,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Colfax during the first quarter valued at approximately $604,000. BlackRock Inc. raised its position in shares of Colfax by 3.7% during the first quarter. BlackRock Inc. now owns 4,209,215 shares of the industrial products company’s stock valued at $134,274,000 after buying an additional 148,615 shares during the last quarter. Northern Trust Corp raised its position in shares of Colfax by 2.2% during the first quarter. Northern Trust Corp now owns 461,377 shares of the industrial products company’s stock valued at $14,717,000 after buying an additional 9,787 shares during the last quarter. Finally, Systematic Financial Management LP bought a new stake in shares of Colfax during the first quarter valued at approximately $1,438,000. Institutional investors own 76.44% of the company’s stock.
In related news, insider Shyam Kambeyanda sold 873 shares of the firm’s stock in a transaction on Monday, May 14th. The shares were sold at an average price of $32.48, for a total value of $28,355.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders sold 1,608 shares of company stock valued at $52,596. 10.20% of the stock is currently owned by insiders.
Colfax opened at $32.24 on Friday, Marketbeat reports. Colfax Co. has a fifty-two week low of $29.02 and a fifty-two week high of $43.29. The company has a quick ratio of 1.52, a current ratio of 1.97 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $4.00 billion, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.02 and a beta of 1.27.
Colfax (NYSE:CFX) last posted its earnings results on Thursday, May 3rd. The industrial products company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.06. Colfax had a net margin of 3.84% and a return on equity of 6.13%. The firm had revenue of $881.00 million during the quarter, compared to analyst estimates of $822.75 million. During the same period last year, the firm posted $0.35 earnings per share. Colfax’s revenue for the quarter was up 4.3% compared to the same quarter last year. analysts predict that Colfax Co. will post 2.15 earnings per share for the current year.
Several equities research analysts have recently issued reports on the stock. Stifel Nicolaus reduced their price objective on shares of Colfax from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Oppenheimer reiterated a “hold” rating on shares of Colfax in a research report on Thursday, May 3rd. Citigroup reduced their price objective on shares of Colfax from $30.00 to $28.00 and set a “sell” rating on the stock in a research report on Friday, May 4th. ValuEngine cut shares of Colfax from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Finally, Zacks Investment Research upgraded shares of Colfax from a “sell” rating to a “hold” rating in a research report on Friday, May 4th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $39.67.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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