American Century Companies Inc. Lowers Stake in CECO Environmental Corp. (CECE)

American Century Companies Inc. lessened its position in CECO Environmental Corp. (NASDAQ:CECE) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 967,655 shares of the industrial products company’s stock after selling 139,638 shares during the quarter. American Century Companies Inc. owned 2.77% of CECO Environmental worth $6,532,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position in CECO Environmental by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 307,172 shares of the industrial products company’s stock worth $2,073,000 after acquiring an additional 19,438 shares during the period. Actinver Wealth Management Inc. acquired a new position in CECO Environmental during the fourth quarter worth $607,000. Dimensional Fund Advisors LP raised its position in CECO Environmental by 2.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,366,493 shares of the industrial products company’s stock worth $15,974,000 after acquiring an additional 54,611 shares during the period. Macquarie Group Ltd. raised its position in CECO Environmental by 117.6% during the fourth quarter. Macquarie Group Ltd. now owns 7,304 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 3,948 shares during the period. Finally, Metropolitan Life Insurance Co. NY acquired a new position in CECO Environmental during the fourth quarter worth $73,000. Hedge funds and other institutional investors own 66.64% of the company’s stock.

CECE has been the subject of a number of research analyst reports. Maxim Group restated a “buy” rating and set a $10.00 price objective on shares of CECO Environmental in a research report on Tuesday, January 15th. Zacks Investment Research raised shares of CECO Environmental from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a report on Monday, January 14th. ValuEngine lowered shares of CECO Environmental from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. B. Riley started coverage on shares of CECO Environmental in a report on Tuesday, February 12th. They set a “buy” rating and a $9.50 target price for the company. Finally, BidaskClub raised shares of CECO Environmental from a “sell” rating to a “hold” rating in a report on Thursday, February 28th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company’s stock. CECO Environmental has a consensus rating of “Buy” and an average target price of $9.17.

In related news, Director David B. Liner bought 5,000 shares of the stock in a transaction on Friday, March 8th. The stock was bought at an average price of $7.13 per share, with a total value of $35,650.00. Following the completion of the purchase, the director now directly owns 42,860 shares in the company, valued at approximately $305,591.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dennis Sadlowski bought 4,000 shares of the stock in a transaction on Thursday, March 28th. The shares were bought at an average cost of $7.23 per share, with a total value of $28,920.00. Following the purchase, the chief executive officer now owns 110,700 shares of the company’s stock, valued at $800,361. The disclosure for this purchase can be found here. Company insiders own 13.44% of the company’s stock.

Shares of CECE traded up $0.24 during mid-day trading on Friday, reaching $7.85. The stock had a trading volume of 63,308 shares, compared to its average volume of 79,388. The company has a current ratio of 1.55, a quick ratio of 1.35 and a debt-to-equity ratio of 0.42. CECO Environmental Corp. has a 52-week low of $4.43 and a 52-week high of $9.18. The firm has a market capitalization of $274.59 million, a P/E ratio of 27.07, a P/E/G ratio of 1.11 and a beta of 1.12.

CECO Environmental (NASDAQ:CECE) last announced its quarterly earnings data on Thursday, March 7th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.01). The firm had revenue of $93.85 million during the quarter, compared to analysts’ expectations of $88.91 million. CECO Environmental had a negative net margin of 2.11% and a positive return on equity of 5.36%. Equities research analysts predict that CECO Environmental Corp. will post 0.47 earnings per share for the current fiscal year.

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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.

Further Reading: Beige Book

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

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