Chevy Chase Trust Holdings Inc. decreased its position in Colfax Corp (NYSE:CFX) by 23.1% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,200 shares of the industrial products company’s stock after selling 2,457 shares during the quarter. Chevy Chase Trust Holdings Inc.’s holdings in Colfax were worth $251,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in CFX. Cooke & Bieler LP raised its position in Colfax by 226.3% in the second quarter. Cooke & Bieler LP now owns 3,820,329 shares of the industrial products company’s stock valued at $117,093,000 after purchasing an additional 2,649,609 shares during the period. Victory Capital Management Inc. raised its position in Colfax by 17.9% in the first quarter. Victory Capital Management Inc. now owns 5,291,737 shares of the industrial products company’s stock valued at $168,806,000 after purchasing an additional 804,696 shares during the period. Cove Street Capital LLC purchased a new stake in Colfax in the first quarter valued at approximately $19,039,000. Diamond Hill Capital Management Inc. raised its position in Colfax by 24.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 2,724,863 shares of the industrial products company’s stock valued at $86,923,000 after purchasing an additional 537,299 shares during the period. Finally, Oakview Capital Management L.P. raised its position in Colfax by 44.8% in the first quarter. Oakview Capital Management L.P. now owns 733,656 shares of the industrial products company’s stock valued at $23,404,000 after purchasing an additional 226,824 shares during the period. 76.77% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on CFX shares. ValuEngine lowered Colfax from a “sell” rating to a “strong sell” rating in a research report on Wednesday, May 2nd. Oppenheimer reaffirmed a “hold” rating on shares of Colfax in a research report on Thursday, May 3rd. Royal Bank of Canada lowered Colfax from an “outperform” rating to a “sector perform” rating and set a $43.00 price objective on the stock. in a research report on Friday, May 4th. Stifel Nicolaus cut their price objective on Colfax from $40.00 to $37.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. Finally, Citigroup cut their price objective on Colfax from $30.00 to $28.00 and set a “sell” rating on the stock in a research report on Friday, May 4th. Five research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $36.28.
Colfax (NYSE:CFX) last posted its quarterly earnings data on Monday, August 6th. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Colfax had a return on equity of 6.64% and a net margin of 3.47%. The business had revenue of $925.29 million for the quarter, compared to analyst estimates of $939.07 million. During the same quarter in the prior year, the company earned $0.45 earnings per share. The company’s revenue was up 9.1% on a year-over-year basis. analysts predict that Colfax Corp will post 2.25 EPS for the current year.
In related news, CEO Matthew L. Trerotola sold 20,488 shares of the stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $33.32, for a total value of $682,660.16. Following the transaction, the chief executive officer now owns 266,746 shares of the company’s stock, valued at $8,887,976.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 10.20% of the company’s stock.
Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.
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