Manatuck Hill Partners LLC Lowers Holdings in CECO Environmental Corp. (NASDAQ:CECO)

Manatuck Hill Partners LLC cut its holdings in shares of CECO Environmental Corp. (NASDAQ:CECO - Free Report) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,000 shares of the company's stock after selling 18,100 shares during the period. CECO Environmental comprises about 2.0% of Manatuck Hill Partners LLC's portfolio, making the stock its 14th biggest position. Manatuck Hill Partners LLC owned about 0.46% of CECO Environmental worth $4,837,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Raymond James Financial Inc. purchased a new stake in shares of CECO Environmental during the fourth quarter worth $7,334,000. Van ECK Associates Corp increased its holdings in CECO Environmental by 41.6% in the fourth quarter. Van ECK Associates Corp now owns 538,092 shares of the company's stock valued at $16,267,000 after buying an additional 158,215 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in CECO Environmental by 17.6% during the 3rd quarter. Principal Financial Group Inc. now owns 22,246 shares of the company's stock worth $627,000 after buying an additional 3,330 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of CECO Environmental by 0.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 237,464 shares of the company's stock worth $7,179,000 after acquiring an additional 1,967 shares in the last quarter. Finally, Sei Investments Co. increased its stake in CECO Environmental by 15.9% in the fourth quarter. Sei Investments Co. now owns 110,124 shares of the company's stock valued at $3,329,000 after purchasing an additional 15,104 shares during the last quarter. Institutional investors and hedge funds own 68.08% of the company's stock.

CECO Environmental Stock Performance

Shares of CECO stock traded down $0.03 during midday trading on Wednesday, hitting $25.40. The company had a trading volume of 65,484 shares, compared to its average volume of 286,893. CECO Environmental Corp. has a 52-week low of $17.57 and a 52-week high of $35.16. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.12. The company's 50 day simple moving average is $22.22 and its 200 day simple moving average is $26.40. The stock has a market cap of $895.77 million, a price-to-earnings ratio of 76.70, a PEG ratio of 1.39 and a beta of 1.31.

CECO Environmental (NASDAQ:CECO - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. CECO Environmental had a net margin of 2.16% and a return on equity of 11.12%. The company had revenue of $176.70 million for the quarter, compared to analysts' expectations of $151.53 million. CECO Environmental's quarterly revenue was up 39.9% compared to the same quarter last year. Research analysts anticipate that CECO Environmental Corp. will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on CECO shares. HC Wainwright raised CECO Environmental from a "neutral" rating to a "buy" rating and set a $33.00 price objective on the stock in a report on Wednesday, April 30th. Needham & Company LLC lifted their target price on shares of CECO Environmental from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental has an average rating of "Buy" and an average target price of $36.00.

Insiders Place Their Bets

In related news, Director Richard F. Wallman purchased 1,000 shares of CECO Environmental stock in a transaction dated Wednesday, February 26th. The stock was bought at an average cost of $25.15 per share, for a total transaction of $25,150.00. Following the transaction, the director now owns 207,117 shares in the company, valued at approximately $5,208,992.55. The trade was a 0.49 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Peter K. Johansson sold 5,601 shares of CECO Environmental stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $24.15, for a total value of $135,264.15. Following the transaction, the insider now directly owns 84,660 shares of the company's stock, valued at approximately $2,044,539. This represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.40% of the stock is currently owned by company insiders.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.