Insider Selling: Colfax Corp (NYSE:CFX) CEO Sells $600,599.23 in Stock

Colfax Corp (NYSE:CFX) CEO Matthew L. Trerotola sold 19,481 shares of the business’s stock in a transaction on Monday, July 27th. The stock was sold at an average price of $30.83, for a total transaction of $600,599.23. Following the transaction, the chief executive officer now directly owns 223,006 shares of the company’s stock, valued at approximately $6,875,274.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of Colfax stock opened at $31.34 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.25 and a debt-to-equity ratio of 0.79. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of -9.06, a P/E/G ratio of 5.23 and a beta of 1.84. Colfax Corp has a 1-year low of $12.23 and a 1-year high of $39.30. The firm’s 50-day moving average price is $28.91 and its two-hundred day moving average price is $28.69.

Colfax (NYSE:CFX) last issued its quarterly earnings data on Thursday, May 7th. The industrial products company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. The firm had revenue of $816.40 million for the quarter, compared to analysts’ expectations of $790.17 million. Colfax had a negative net margin of 13.62% and a positive return on equity of 8.89%. The company’s quarterly revenue was down 19.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.53 earnings per share. As a group, equities research analysts predict that Colfax Corp will post 1.17 EPS for the current year.

A number of brokerages have recently commented on CFX. Deutsche Bank upped their price objective on shares of Colfax from $19.00 to $30.00 and gave the company a “hold” rating in a research report on Friday, May 8th. Morgan Stanley upped their price objective on shares of Colfax from $23.00 to $28.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Robert W. Baird upped their price objective on shares of Colfax from $31.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, May 8th. Stifel Nicolaus increased their price target on shares of Colfax from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Finally, Zacks Investment Research lowered shares of Colfax from a “hold” rating to a “sell” rating and set a $26.00 price target for the company. in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $29.09.

Hedge funds have recently bought and sold shares of the stock. State of Michigan Retirement System lifted its holdings in Colfax by 31.9% during the 2nd quarter. State of Michigan Retirement System now owns 30,602 shares of the industrial products company’s stock worth $854,000 after buying an additional 7,402 shares in the last quarter. Raymond James & Associates raised its position in shares of Colfax by 10.2% during the second quarter. Raymond James & Associates now owns 195,728 shares of the industrial products company’s stock worth $5,461,000 after acquiring an additional 18,133 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Colfax by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,933 shares of the industrial products company’s stock worth $277,000 after acquiring an additional 1,067 shares during the last quarter. SeaBridge Investment Advisors LLC raised its position in shares of Colfax by 6.8% during the second quarter. SeaBridge Investment Advisors LLC now owns 23,856 shares of the industrial products company’s stock worth $666,000 after acquiring an additional 1,514 shares during the last quarter. Finally, Strs Ohio raised its position in shares of Colfax by 15.4% during the second quarter. Strs Ohio now owns 1,157,247 shares of the industrial products company’s stock worth $32,287,000 after acquiring an additional 154,764 shares during the last quarter. Hedge funds and other institutional investors own 99.94% of the company’s stock.

About Colfax

Colfax Corporation operates as a diversified technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, installs, and maintains heavy-duty fans, rotary heat exchangers, blowers, and compressors.

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