Mesirow Financial Investment Management Inc. Reduces Stake in CECO Environmental Corp. (NASDAQ:CECO)

Mesirow Financial Investment Management Inc. trimmed its stake in CECO Environmental Corp. (NASDAQ:CECO) by 23.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 13,627 shares of the company’s stock after selling 4,118 shares during the quarter. CECO Environmental makes up 1.6% of Mesirow Financial Investment Management Inc.’s holdings, making the stock its 23rd biggest position. Mesirow Financial Investment Management Inc.’s holdings in CECO Environmental were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AJOVista LLC purchased a new position in CECO Environmental in the fourth quarter valued at about $57,000. Tower Research Capital LLC TRC raised its position in shares of CECO Environmental by 89.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares during the period. Kessler Investment Group LLC bought a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $159,000. Finally, Guyasuta Investment Advisors Inc. bought a new stake in shares of CECO Environmental in the fourth quarter valued at approximately $203,000. 68.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at CECO Environmental

In related news, Director Richard F. Wallman purchased 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were purchased at an average price of $21.95 per share, with a total value of $109,750.00. Following the acquisition, the director now directly owns 191,853 shares of the company’s stock, valued at $4,211,173.35. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In other CECO Environmental news, Director Richard F. Wallman acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, May 21st. The stock was bought at an average price of $24.50 per share, with a total value of $98,000.00. Following the purchase, the director now owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard F. Wallman acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the purchase, the director now directly owns 191,853 shares in the company, valued at approximately $4,211,173.35. The disclosure for this purchase can be found here. Insiders own 16.90% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Northland Securities boosted their price target on shares of CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research report on Wednesday, March 6th. HC Wainwright reissued a “buy” rating and issued a $30.00 price target on shares of CECO Environmental in a research report on Wednesday, May 1st. Roth Mkm boosted their price target on shares of CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Needham & Company LLC upped their target price on shares of CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Craig Hallum upped their target price on shares of CECO Environmental from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and an average target price of $27.40.

CECO Environmental Price Performance

CECO Environmental stock traded up $0.35 during midday trading on Wednesday, reaching $28.34. 164,365 shares of the stock were exchanged, compared to its average volume of 280,881. The company’s fifty day moving average is $24.73 and its 200-day moving average is $22.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.19 and a current ratio of 1.38. The firm has a market cap of $990.20 million, a PE ratio of 79.97, a PEG ratio of 2.05 and a beta of 1.37. CECO Environmental Corp. has a 52 week low of $11.46 and a 52 week high of $29.11.

CECO Environmental (NASDAQ:CECO) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. The firm had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a net margin of 2.23% and a return on equity of 11.57%. The business’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.10 EPS. On average, sell-side analysts forecast that CECO Environmental Corp. will post 0.94 EPS for the current year.

CECO Environmental 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.