Stone Ridge Asset Management LLC Buys New Holdings in Colfax Corp (CFX)

Stone Ridge Asset Management LLC acquired a new stake in shares of Colfax Corp (NYSE:CFX) during the fourth quarter, according to its most recent filing with the SEC. The fund acquired 16,260 shares of the industrial products company’s stock, valued at approximately $340,000.

Several other large investors also recently added to or reduced their stakes in CFX. Wells Fargo & Company MN grew its holdings in shares of Colfax by 10.1% during the 3rd quarter. Wells Fargo & Company MN now owns 364,927 shares of the industrial products company’s stock worth $13,159,000 after purchasing an additional 33,613 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Colfax during the 3rd quarter worth $3,601,000. Dimensional Fund Advisors LP grew its holdings in shares of Colfax by 3.6% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,131,300 shares of the industrial products company’s stock worth $112,914,000 after purchasing an additional 107,552 shares in the last quarter. United Services Automobile Association grew its holdings in shares of Colfax by 28.8% during the 3rd quarter. United Services Automobile Association now owns 226,612 shares of the industrial products company’s stock worth $8,172,000 after purchasing an additional 50,661 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of Colfax by 137.3% during the 3rd quarter. Hsbc Holdings PLC now owns 36,697 shares of the industrial products company’s stock worth $1,322,000 after purchasing an additional 21,231 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

CFX has been the topic of several analyst reports. CIBC reissued an “average” rating and set a $20.00 target price on shares of Colfax in a report on Monday, January 14th. Raymond James reaffirmed a “buy” rating and issued a $25.00 price objective on shares of Colfax in a research note on Friday, February 22nd. Gabelli reaffirmed a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Oppenheimer reaffirmed a “buy” rating on shares of Colfax in a research note on Thursday, February 14th. Finally, Zacks Investment Research reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Colfax in a research note on Monday, December 31st. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $31.51.

In other news, SVP Lynn H. Clark sold 2,666 shares of the firm’s stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $26.50, for a total value of $70,649.00. Following the transaction, the senior vice president now directly owns 35,662 shares in the company, valued at approximately $945,043. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Ian Brander sold 4,260 shares of the firm’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $27.01, for a total value of $115,062.60. Following the completion of the transaction, the chief executive officer now owns 21,876 shares in the company, valued at $590,870.76. The disclosure for this sale can be found here. Company insiders own 12.00% of the company’s stock.

CFX traded down $0.03 during trading on Friday, hitting $30.37. 1,062,745 shares of the company’s stock traded hands, compared to its average volume of 1,728,036. The company has a current ratio of 1.63, a quick ratio of 1.22 and a debt-to-equity ratio of 0.34. Colfax Corp has a 12-month low of $18.95 and a 12-month high of $37.05. The company has a market cap of $3.57 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 0.94 and a beta of 1.58.

Colfax (NYSE:CFX) last issued its earnings results on Wednesday, February 13th. The industrial products company reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. Colfax had a return on equity of 7.79% and a net margin of 3.82%. The business had revenue of $985.00 million for the quarter, compared to the consensus estimate of $982.49 million. During the same period last year, the business posted $0.45 EPS. The company’s revenue was up 12.7% compared to the same quarter last year. As a group, research analysts forecast that Colfax Corp will post 2.6 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Baseball Daily News and is the property of of Baseball Daily News. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.baseballdailydigest.com/news/2019/04/21/stone-ridge-asset-management-llc-buys-shares-of-16260-colfax-corp-cfx.html.

About Colfax

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.

Further Reading: Why is Cost of Capital Important?

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.