BNP Paribas Financial Markets Acquires 432,407 Shares of Celestica, Inc. $CLS

Key Points

• BNP Paribas Financial Markets purchased 432,407 shares in Q3, boosting its stake to 438,777 shares (about 0.38% of Celestica) valued at roughly $108.1 million — a reported 6,788.2% increase versus its prior holding.
• Insider selling was heavy last quarter, with company insiders disposing of 297,923 shares valued at about $88.0 million (including President Jason Phillips' 100,000-share sale for ~$30.9M and President Todd C. Cooper's 89,484-share sale for ~$25.7M), materially reducing their ownership stakes.
• Analyst view: Celestica has a consensus "Moderate Buy" rating with a consensus target price of $354.24; the stock trades near $265 with a 52-week range of $58.05–$363.40 and a market cap of about $30.5 billion.

BNP Paribas Financial Markets lifted its holdings in shares of Celestica, Inc. (NYSE:CLS - Free Report) TSE: CLS by 6,788.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438,777 shares of the technology company's stock after buying an additional 432,407 shares during the quarter. BNP Paribas Financial Markets owned about 0.38% of Celestica worth $108,106,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CLS. Bank of New York Mellon Corp grew its holdings in Celestica by 7.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 130,351 shares of the technology company's stock worth $20,349,000 after acquiring an additional 8,884 shares during the period. Prospera Financial Services Inc bought a new position in shares of Celestica in the 2nd quarter worth $242,000. Acadian Asset Management LLC bought a new position in shares of Celestica in the 2nd quarter worth $3,895,000. Allworth Financial LP grew its stake in shares of Celestica by 509.3% during the second quarter. Allworth Financial LP now owns 1,249 shares of the technology company's stock worth $195,000 after purchasing an additional 1,044 shares during the period. Finally, Forsta AP Fonden grew its stake in shares of Celestica by 28.5% during the second quarter. Forsta AP Fonden now owns 76,200 shares of the technology company's stock worth $11,882,000 after purchasing an additional 16,900 shares during the period. 67.38% of the stock is owned by institutional investors.

Insider Buying and Selling at Celestica

In related news, President Jason Phillips sold 100,000 shares of the firm's stock in a transaction on Friday, February 6th. The shares were sold at an average price of $308.92, for a total transaction of $30,892,000.00. Following the sale, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This trade represents a 88.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Todd C. Cooper sold 89,484 shares of the business's stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $287.45, for a total transaction of $25,722,175.80. Following the completion of the sale, the president directly owned 108,970 shares in the company, valued at $31,323,426.50. This represents a 45.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 297,923 shares of company stock valued at $88,027,459. 0.52% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Canadian Imperial Bank of Commerce cut their target price on Celestica from $400.00 to $360.00 and set an "outperform" rating on the stock in a research note on Wednesday. Royal Bank Of Canada restated an "outperform" rating and set a $400.00 target price on shares of Celestica in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Celestica from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. TD Securities lifted their price objective on shares of Celestica from $305.00 to $330.00 and gave the stock a "hold" rating in a research note on Friday, January 30th. Finally, Canaccord Genuity Group boosted their price objective on shares of Celestica from $400.00 to $430.00 and gave the company a "buy" rating in a report on Monday, February 2nd. Two equities research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $354.24.

Celestica Price Performance

Shares of CLS opened at $265.03 on Friday. The stock has a 50 day simple moving average of $293.34 and a 200 day simple moving average of $286.04. Celestica, Inc. has a 52-week low of $58.05 and a 52-week high of $363.40. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.88 and a current ratio of 1.44. The firm has a market capitalization of $30.49 billion, a PE ratio of 36.91 and a beta of 1.88.

Celestica Company Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company's service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.

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