Essex Investment Management Co. LLC Sells 23,821 Shares of CECO Environmental Corp. (NASDAQ:CECE)

Essex Investment Management Co. LLC lowered its holdings in shares of CECO Environmental Corp. (NASDAQ:CECE) by 10.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 211,103 shares of the industrial products company’s stock after selling 23,821 shares during the quarter. Essex Investment Management Co. LLC’s holdings in CECO Environmental were worth $1,475,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. Campbell & CO Investment Adviser LLC lifted its position in CECO Environmental by 164.6% during the third quarter. Campbell & CO Investment Adviser LLC now owns 46,812 shares of the industrial products company’s stock valued at $327,000 after purchasing an additional 29,119 shares during the last quarter. River & Mercantile Asset Management LLP bought a new position in CECO Environmental during the second quarter valued at $2,253,000. Mackenzie Financial Corp bought a new position in CECO Environmental during the second quarter valued at $115,000. Hodges Capital Management Inc. bought a new position in CECO Environmental during the second quarter valued at $432,000. Finally, Susquehanna International Group LLP lifted its position in CECO Environmental by 3,401.8% during the second quarter. Susquehanna International Group LLP now owns 13,207 shares of the industrial products company’s stock valued at $127,000 after purchasing an additional 13,607 shares during the last quarter. Institutional investors and hedge funds own 69.43% of the company’s stock.

Several equities analysts have commented on CECE shares. B. Riley set a $10.00 price objective on shares of CECO Environmental and gave the company a “buy” rating in a research report on Wednesday, August 7th. Zacks Investment Research lowered shares of CECO Environmental from a “hold” rating to a “sell” rating in a research report on Thursday, October 17th. Maxim Group set a $10.00 price objective on shares of CECO Environmental and gave the company a “buy” rating in a research report on Wednesday, August 7th. ValuEngine lowered shares of CECO Environmental from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of CECO Environmental in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $10.00.

Shares of CECO Environmental stock traded down $0.01 during trading on Thursday, hitting $6.76. The stock had a trading volume of 895 shares, compared to its average volume of 101,276. The firm’s fifty day simple moving average is $7.04 and its 200-day simple moving average is $8.13. The stock has a market cap of $240.10 million, a PE ratio of 23.31, a PEG ratio of 0.94 and a beta of 0.95. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.61 and a quick ratio of 1.39. CECO Environmental Corp. has a 12 month low of $6.44 and a 12 month high of $9.84.

CECO Environmental (NASDAQ:CECE) last released its earnings results on Tuesday, August 6th. The industrial products company reported $0.08 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by ($0.03). The firm had revenue of $81.18 million during the quarter, compared to the consensus estimate of $86.67 million. CECO Environmental had a positive return on equity of 7.57% and a negative net margin of 1.32%. Analysts expect that CECO Environmental Corp. will post 0.48 earnings per share for the current fiscal year.

CECO Environmental Profile

CECO Environmental Corp. provides industrial air quality and fluid handling systems for the energy, industrial, and other markets worldwide. The company operates through three segments: Energy Solutions, Environmental Solutions, and Fluid Handling and Filtration Solutions. The company engineers, designs, builds, and installs systems that capture, clean, and destroy airborne contaminants from industrial facilities, as well as equipment that control emissions from such facilities; and fluid handling and filtration systems.

Further Reading: Do investors pay a separate front-end load every time they buy additional shares?

Want to see what other hedge funds are holding CECE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for CECO Environmental Corp. (NASDAQ:CECE).

Institutional Ownership by Quarter for CECO Environmental (NASDAQ:CECE)

Receive News & Ratings for CECO Environmental Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CECO Environmental and related companies with MarketBeat.com's FREE daily email newsletter.