Federated Hermes Inc. increased its position in shares of Colfax Co. (NYSE:CFX) by 26.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,461,997 shares of the industrial products company’s stock after buying an additional 516,241 shares during the quarter. Federated Hermes Inc.’s holdings in Colfax were worth $107,860,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CFX. Cooke & Bieler LP grew its position in shares of Colfax by 2.5% during the fourth quarter. Cooke & Bieler LP now owns 6,337,233 shares of the industrial products company’s stock worth $242,336,000 after acquiring an additional 154,193 shares during the last quarter. Royce & Associates LP grew its position in Colfax by 0.4% during the 4th quarter. Royce & Associates LP now owns 2,685,331 shares of the industrial products company’s stock worth $102,687,000 after purchasing an additional 11,652 shares during the last quarter. Artisan Partners Limited Partnership increased its stake in Colfax by 209.6% in the first quarter. Artisan Partners Limited Partnership now owns 2,453,342 shares of the industrial products company’s stock valued at $107,481,000 after purchasing an additional 1,660,866 shares during the period. Eaton Vance Management purchased a new stake in shares of Colfax in the fourth quarter valued at about $4,606,000. Finally, Walleye Capital LLC acquired a new stake in shares of Colfax during the fourth quarter worth about $2,614,000. 96.50% of the stock is currently owned by institutional investors.
NYSE CFX traded down $0.74 during trading hours on Friday, reaching $44.00. The company’s stock had a trading volume of 284 shares, compared to its average volume of 1,426,521. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.94 and a current ratio of 1.33. The business’s 50-day moving average price is $44.36. Colfax Co. has a fifty-two week low of $24.70 and a fifty-two week high of $50.26. The company has a market cap of $5.97 billion, a PE ratio of 107.22, a PEG ratio of 1.03 and a beta of 2.21.
Colfax (NYSE:CFX) last released its quarterly earnings results on Thursday, April 29th. The industrial products company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.39 by $0.05. Colfax had a net margin of 1.83% and a return on equity of 5.49%. The business had revenue of $879.21 million for the quarter, compared to analyst estimates of $841.42 million. As a group, equities research analysts forecast that Colfax Co. will post 2.14 earnings per share for the current year.
A number of analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Colfax from $53.00 to $54.00 and gave the stock a “hold” rating in a research report on Friday, March 12th. Barclays reiterated an “underweight” rating and issued a $45.00 price objective (down from $48.00) on shares of Colfax in a research report on Tuesday, April 13th. KeyCorp lifted their price target on Colfax from $47.00 to $57.00 and gave the company an “overweight” rating in a research note on Friday, March 12th. TheStreet raised Colfax from a “c” rating to a “b-” rating in a report on Monday, February 22nd. Finally, Morgan Stanley upped their price target on shares of Colfax from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, April 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.45.
In related news, CFO Christopher M. Hix sold 90,000 shares of Colfax stock in a transaction dated Monday, June 14th. The stock was sold at an average price of $45.89, for a total transaction of $4,130,100.00. Following the completion of the sale, the chief financial officer now owns 182,800 shares in the company, valued at approximately $8,388,692. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew L. Trerotola sold 200,000 shares of the business’s stock in a transaction dated Friday, May 14th. The shares were sold at an average price of $43.14, for a total transaction of $8,628,000.00. Following the completion of the transaction, the chief executive officer now directly owns 505,708 shares of the company’s stock, valued at approximately $21,816,243.12. The disclosure for this sale can be found here. Insiders have sold 314,677 shares of company stock valued at $13,842,407 in the last three months. 9.60% of the stock is currently owned by company insiders.
Colfax Company Profile
Colfax Corporation operates as a diversified technology company worldwide. The company operates in two segments, Fabrication Technology and Medical Technology. The Fabrication Technology segment formulates, develops, manufactures, and supplies consumable products and equipment, including cutting, joining, and automated welding products, as well as gas control equipment.
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