Diamond Hill Capital Management LLC Investment Advisor Invests $4.17 Million in CECO Environmental Corp. $CECO

Key Points

• Diamond Hill Capital Management acquired 45,916 CECO Environmental shares worth approximately $4.17 million, while several other institutional investors also initiated positions; institutions now own 68.08% of the company.
• CECO reported quarterly EPS of $0.47, beating estimates of $0.26, on revenue of $284.96 million that increased 53.7% year over year. Analysts project $2.35 in full-year EPS.
• Analyst sentiment remains broadly positive, with eight Buy ratings, one Hold and one Sell, producing a “Moderate Buy” consensus and a $104.88 average price target versus the stock’s $84.15 opening price.

Diamond Hill Capital Management LLC Investment Advisor acquired a new position in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,916 shares of the company's stock, valued at approximately $4,166,000. Diamond Hill Capital Management LLC Investment Advisor owned about 0.13% of CECO Environmental at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CECO. Alberta Investment Management Corp bought a new position in CECO Environmental in the second quarter valued at approximately $7,111,000. Bank of New York Mellon Corp bought a new stake in shares of CECO Environmental during the 2nd quarter worth approximately $15,153,000. State of Wyoming acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at approximately $715,000. GSA Capital Partners LLP acquired a new stake in shares of CECO Environmental in the 2nd quarter valued at approximately $348,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of CECO Environmental in the second quarter valued at $225,000. Institutional investors own 68.08% of the company's stock.

Insider Buying and Selling at CECO Environmental

In other news, Director Richard F. Wallman bought 20,000 shares of the stock in a transaction that occurred on Monday, June 1st. The stock was acquired at an average price of $76.85 per share, with a total value of $1,537,000.00. Following the completion of the purchase, the director directly owned 105,500 shares of the company's stock, valued at approximately $8,107,675. This represents a 23.39% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jason Dezwirek sold 34,000 shares of CECO Environmental stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $96.61, for a total value of $3,284,740.00. Following the completion of the sale, the director owned 166,000 shares of the company's stock, valued at approximately $16,037,260. The trade was a 17.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 16.90% of the company's stock.

CECO Environmental Price Performance

Shares of CECO stock opened at $84.15 on Tuesday. The business has a fifty day simple moving average of $82.41 and a 200 day simple moving average of $73.93. CECO Environmental Corp. has a twelve month low of $42.78 and a twelve month high of $101.24. The company has a quick ratio of 1.18, a current ratio of 1.50 and a debt-to-equity ratio of 0.34. The company has a market cap of $3.02 billion, a P/E ratio of -121.96 and a beta of 1.51.

CECO Environmental (NASDAQ:CECO - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.21. CECO Environmental had a positive return on equity of 7.36% and a negative net margin of 3.39%.The business had revenue of $284.96 million for the quarter, compared to analyst estimates of $282.21 million. During the same quarter in the previous year, the company posted $0.26 EPS. CECO Environmental's quarterly revenue was up 53.7% compared to the same quarter last year. On average, sell-side analysts forecast that CECO Environmental Corp. will post 2.35 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on CECO shares. Weiss Ratings cut shares of CECO Environmental from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Wednesday, August 12th. Zacks Research cut shares of CECO Environmental from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 11th. Craig Hallum reiterated a "buy" rating and issued a $103.00 target price on shares of CECO Environmental in a research note on Tuesday, April 28th. JPMorgan Chase & Co. started coverage on CECO Environmental in a report on Thursday, July 9th. They set an "overweight" rating and a $130.00 price target for the company. Finally, Needham & Company LLC reissued a "buy" rating and set a $110.00 price target on shares of CECO Environmental in a research report on Tuesday, August 11th. Eight investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $104.88.

About CECO Environmental

CECO Environmental Corp. NASDAQ: CECO is a global technology provider specializing in engineered solutions that help industrial and commercial customers manage air emissions, process fluids and optimize energy use. The company develops custom-engineered systems and modular packages designed to meet evolving environmental regulations and improve operational efficiency across diverse production processes.

CECO's core offerings include air pollution control equipment—such as scrubbers, cyclones, fabric and cartridge filters—and industrial process filtration systems for applications ranging from particulate removal to oil-water separation.

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