OppenheimerFunds Inc. purchased a new stake in shares of Colfax Corp (NYSE:CFX) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 33,600 shares of the industrial products company’s stock, valued at approximately $997,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. lifted its stake in Colfax by 91.1% in the first quarter. BlackRock Inc. now owns 8,952,563 shares of the industrial products company’s stock worth $265,712,000 after acquiring an additional 4,268,182 shares during the period. Principal Financial Group Inc. lifted its position in Colfax by 6.2% during the first quarter. Principal Financial Group Inc. now owns 7,619,325 shares of the industrial products company’s stock valued at $226,142,000 after buying an additional 442,844 shares during the period. Dimensional Fund Advisors LP lifted its position in Colfax by 26.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,870,211 shares of the industrial products company’s stock valued at $144,542,000 after buying an additional 1,015,936 shares during the period. Diamond Hill Capital Management Inc. lifted its position in Colfax by 3.8% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 2,682,199 shares of the industrial products company’s stock valued at $56,058,000 after buying an additional 98,752 shares during the period. Finally, Royce & Associates LP increased its holdings in shares of Colfax by 427.1% during the first quarter. Royce & Associates LP now owns 1,824,930 shares of the industrial products company’s stock valued at $54,164,000 after acquiring an additional 1,478,724 shares in the last quarter. Institutional investors and hedge funds own 81.11% of the company’s stock.
Several equities analysts have recently weighed in on CFX shares. Oppenheimer restated a “buy” rating on shares of Colfax in a report on Thursday, February 14th. Raymond James restated a “buy” rating and set a $21.00 price target on shares of Colfax in a report on Monday, April 22nd. Gabelli restated a “buy” rating on shares of Colfax in a report on Thursday, February 14th. ValuEngine downgraded Colfax from a “sell” rating to a “strong sell” rating in a report on Wednesday, May 8th. Finally, Longbow Research restated a “buy” rating and set a $38.00 price target on shares of Colfax in a report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eleven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $30.05.
NYSE:CFX traded down $0.26 during trading hours on Friday, reaching $27.18. The stock had a trading volume of 27,285 shares, compared to its average volume of 1,978,455. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.53 and a quick ratio of 1.06. Colfax Corp has a 52 week low of $18.95 and a 52 week high of $37.05. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 0.83 and a beta of 1.57.
Colfax (NYSE:CFX) last released its quarterly earnings data on Wednesday, May 8th. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. Colfax had a return on equity of 8.16% and a net margin of 1.68%. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $0.48 EPS. The company’s revenue was up 14.4% compared to the same quarter last year. As a group, analysts anticipate that Colfax Corp will post 2.58 EPS for the current year.
In other news, CEO Ian Brander sold 4,260 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $27.01, for a total transaction of $115,062.60. Following the transaction, the chief executive officer now owns 21,876 shares of the company’s stock, valued at approximately $590,870.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Lynn H. Clark sold 2,666 shares of the business’s stock in a transaction that occurred on Tuesday, February 19th. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders have sold 18,690 shares of company stock worth $494,752. Corporate insiders own 12.00% of the company’s stock.
Colfax Company 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.
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