Colfax Corp (CFX) Position Decreased by Barings LLC
Barings LLC reduced its stake in shares of Colfax Corp (NYSE:CFX) by 57.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,900 shares of the industrial products company’s stock after selling 6,600 shares during the quarter. Barings LLC’s holdings in Colfax were worth $204,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of CFX. Wells Fargo & Company MN grew its holdings in Colfax by 97.2% during the third quarter. Wells Fargo & Company MN now owns 2,959,647 shares of the industrial products company’s stock worth $123,239,000 after acquiring an additional 1,458,683 shares during the period. Victory Capital Management Inc. grew its holdings in Colfax by 82.2% during the third quarter. Victory Capital Management Inc. now owns 2,897,556 shares of the industrial products company’s stock worth $120,655,000 after acquiring an additional 1,306,927 shares during the period. Oak Ridge Investments LLC acquired a new position in Colfax during the second quarter worth about $46,085,000. Balyasny Asset Management LLC acquired a new position in Colfax during the second quarter worth about $35,722,000. Finally, Lodge Hill Capital LLC grew its holdings in Colfax by 37.9% during the second quarter. Lodge Hill Capital LLC now owns 2,020,200 shares of the industrial products company’s stock worth $79,535,000 after acquiring an additional 555,000 shares during the period. Institutional investors and hedge funds own 74.86% of the company’s stock.
Colfax Corp (NYSE CFX) opened at $36.41 on Thursday. The firm has a market capitalization of $4,497.42, a PE ratio of 22.01, a P/E/G ratio of 2.14 and a beta of 1.26. Colfax Corp has a 12 month low of $33.31 and a 12 month high of $43.29. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.80 and a quick ratio of 1.47.
CFX has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 target price on shares of Colfax in a report on Tuesday, November 7th. Zacks Investment Research lowered Colfax from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Robert W. Baird reissued a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Friday, October 27th. Argus reissued a “buy” rating and issued a $50.00 price target on shares of Colfax in a research note on Tuesday, August 29th. Finally, Cowen cut Colfax from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $46.40.
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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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