Tieton Capital Management LLC Trims Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Tieton Capital Management LLC decreased its position in shares of CECO Environmental Corp. (NASDAQ:CECO) by 95.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,333 shares of the company’s stock after selling 212,441 shares during the quarter. Tieton Capital Management LLC’s holdings in CECO Environmental were worth $298,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CECO. Swiss National Bank acquired a new stake in CECO Environmental in the fourth quarter valued at about $1,182,000. Great Lakes Advisors LLC acquired a new stake in CECO Environmental during the 4th quarter valued at $2,720,000. Dynamic Technology Lab Private Ltd purchased a new position in CECO Environmental during the fourth quarter worth $459,000. Weil Company Inc. raised its holdings in shares of CECO Environmental by 24.1% in the fourth quarter. Weil Company Inc. now owns 18,030 shares of the company’s stock worth $366,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of CECO Environmental in the fourth quarter valued at $264,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Insider Buying and Selling at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman purchased 10,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was acquired at an average cost of $28.77 per share, with a total value of $287,700.00. Following the acquisition, the director now owns 62,000 shares of the company’s stock, valued at approximately $1,783,740. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 16.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Craig Hallum boosted their target price on shares of CECO Environmental from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Roth Mkm upped their price objective on shares of CECO Environmental from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Northland Securities lifted their target price on shares of CECO Environmental from $28.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, August 1st. HC Wainwright increased their price target on CECO Environmental from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Needham & Company LLC raised their price target on CECO Environmental from $34.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $34.80.

CECO Environmental Price Performance

CECO stock opened at $28.56 on Tuesday. The firm has a market cap of $997.77 million, a P/E ratio of 81.60, a price-to-earnings-growth ratio of 1.89 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.17 and a current ratio of 1.36. CECO Environmental Corp. has a 1 year low of $15.27 and a 1 year high of $31.55. The stock has a 50-day simple moving average of $28.11 and a 200-day simple moving average of $25.45.

CECO Environmental (NASDAQ:CECO) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.04. The company had revenue of $137.50 million for the quarter, compared to analyst estimates of $143.33 million. CECO Environmental had a net margin of 2.33% and a return on equity of 12.35%. The business’s quarterly revenue was up 6.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 earnings per share. On average, equities analysts predict that CECO Environmental Corp. will post 0.93 earnings per share for the current fiscal 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.