United Services Automobile Association increased its stake in Colfax Corp (NYSE:CFX) by 317.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 681,450 shares of the industrial products company’s stock after purchasing an additional 518,254 shares during the quarter. United Services Automobile Association owned approximately 0.57% of Colfax worth $61,978,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of CFX. Gamco Investors INC. ET AL increased its position in shares of Colfax by 36.2% during the second quarter. Gamco Investors INC. ET AL now owns 13,077 shares of the industrial products company’s stock valued at $401,000 after purchasing an additional 3,477 shares during the period. Gabelli Funds LLC bought a new stake in shares of Colfax during the second quarter valued at approximately $613,000. Private Management Group Inc. increased its position in shares of Colfax by 538.7% during the second quarter. Private Management Group Inc. now owns 51,132 shares of the industrial products company’s stock valued at $1,567,000 after purchasing an additional 43,126 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Colfax by 31.3% during the second quarter. PNC Financial Services Group Inc. now owns 8,034 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 1,917 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in shares of Colfax by 6.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,023,748 shares of the industrial products company’s stock valued at $92,677,000 after purchasing an additional 179,865 shares during the period. Hedge funds and other institutional investors own 79.29% of the company’s stock.

In other news, CEO Matthew L. Trerotola sold 20,488 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total transaction of $682,660.16. Following the transaction, the chief executive officer now owns 266,746 shares of the company’s stock, valued at $8,887,976.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 10.20% of the company’s stock.

Shares of CFX traded down $0.14 during trading hours on Friday, hitting $34.89. 1,583 shares of the stock traded hands, compared to its average volume of 707,384. The company has a quick ratio of 1.36, a current ratio of 1.81 and a debt-to-equity ratio of 0.30. Colfax Corp has a 1-year low of $28.80 and a 1-year high of $43.29. The firm has a market capitalization of $4.14 billion, a PE ratio of 19.98, a price-to-earnings-growth ratio of 1.21 and a beta of 1.32.

Colfax (NYSE:CFX) last issued its quarterly earnings results on Monday, August 6th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.09. Colfax had a return on equity of 6.64% and a net margin of 3.47%. The business had revenue of $925.29 million for the quarter, compared to analyst estimates of $939.07 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts anticipate that Colfax Corp will post 2.25 EPS for the current year.

A number of analysts have recently issued reports on the company. Morgan Stanley assumed coverage on Colfax in a research report on Monday, August 20th. They set an “equal weight” rating and a $34.00 price objective on the stock. Cowen upgraded Colfax from a “market perform” rating to an “outperform” rating in a research report on Friday, August 17th. Zacks Investment Research upgraded Colfax from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research report on Thursday, August 9th. Barclays upped their price target on Colfax from $29.00 to $30.00 and gave the company an “underweight” rating in a research report on Wednesday, August 8th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $38.00 price target (up from $36.00) on shares of Colfax in a research report on Monday, August 6th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $36.10.

About Colfax

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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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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