Panagora Asset Management Inc. purchased a new stake in CECO Environmental Corp. (NASDAQ:CECE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,197 shares of the industrial products company’s stock, valued at approximately $290,000. Panagora Asset Management Inc. owned 0.09% of CECO Environmental at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CECE. BNP Paribas Arbitrage SA boosted its stake in CECO Environmental by 508.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,337 shares of the industrial products company’s stock valued at $46,000 after buying an additional 5,295 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of CECO Environmental by 83.4% during the second quarter. SG Americas Securities LLC now owns 18,646 shares of the industrial products company’s stock valued at $179,000 after purchasing an additional 8,480 shares in the last quarter. Strs Ohio boosted its stake in shares of CECO Environmental by 34.3% during the second quarter. Strs Ohio now owns 37,200 shares of the industrial products company’s stock valued at $356,000 after purchasing an additional 9,500 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of CECO Environmental by 2.9% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 367,500 shares of the industrial products company’s stock valued at $2,646,000 after purchasing an additional 10,525 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of CECO Environmental by 18.5% during the second quarter. Hillsdale Investment Management Inc. now owns 94,700 shares of the industrial products company’s stock valued at $908,000 after purchasing an additional 14,800 shares in the last quarter. Institutional investors and hedge funds own 69.46% of the company’s stock.

Shares of CECE traded up $0.15 during mid-day trading on Friday, reaching $7.69. 2,605 shares of the company were exchanged, compared to its average volume of 113,744. CECO Environmental Corp. has a 52 week low of $6.44 and a 52 week high of $9.84. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.39 and a current ratio of 1.61. The stock has a market capitalization of $252.42 million, a PE ratio of 26.52, a PEG ratio of 0.99 and a beta of 0.96. The business has a 50 day simple moving average of $7.64 and a two-hundred day simple moving average of $8.22.

CECO Environmental (NASDAQ:CECE) last issued its quarterly earnings data on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.03). CECO Environmental had a positive return on equity of 7.57% and a negative net margin of 1.32%. The company had revenue of $81.18 million for the quarter, compared to the consensus estimate of $86.67 million. On average, analysts predict that CECO Environmental Corp. will post 0.48 EPS for the current year.

A number of brokerages have recently commented on CECE. BidaskClub lowered CECO Environmental from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. Maxim Group set a $10.00 price target on CECO Environmental and gave the company a “buy” rating in a research note on Wednesday, August 7th. Roth Capital raised CECO Environmental from a “neutral” rating to a “buy” rating and lifted their price target for the company from $8.00 to $10.00 in a research note on Tuesday, June 11th. B. Riley set a $10.00 price target on CECO Environmental and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $10.00 price target on shares of CECO Environmental in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $10.00.

CECO Environmental Profile

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.

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

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