Cumberland Partners Ltd Sells 7,000 Shares of Celestica Inc. (NYSE:CLS)

Cumberland Partners Ltd reduced its stake in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 64.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,800 shares of the technology company’s stock after selling 7,000 shares during the quarter. Cumberland Partners Ltd’s holdings in Celestica were worth $351,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Peregrine Capital Management LLC bought a new stake in shares of Celestica during the fourth quarter valued at approximately $30,000. R Squared Ltd bought a new position in Celestica in the fourth quarter valued at approximately $51,000. Financial Management Professionals Inc. bought a new position in Celestica in the third quarter valued at approximately $30,000. Private Trust Co. NA boosted its stake in Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company’s stock valued at $44,000 after acquiring an additional 720 shares during the last quarter. Finally, UMB Bank n.a. boosted its stake in Celestica by 43.6% in the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company’s stock valued at $88,000 after acquiring an additional 288 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, President Todd C. Cooper sold 65,000 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the sale, the president now directly owns 110,426 shares in the company, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Robert Mionis sold 52,588 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the sale, the chief executive officer now owns 531,417 shares in the company, valued at approximately $67,776,924.18. The trade was a 9.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 959,381 shares of company stock worth $119,142,019. Company insiders own 1.00% of the company’s stock.

Celestica Trading Down 5.1 %

CLS opened at $124.82 on Friday. The firm’s fifty day moving average is $110.38 and its two-hundred day moving average is $79.66. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm has a market cap of $14.52 billion, a PE ratio of 33.37 and a beta of 2.27. Celestica Inc. has a twelve month low of $36.11 and a twelve month high of $144.27.

Wall Street Analyst Weigh In

CLS has been the topic of a number of recent research reports. Stifel Nicolaus raised their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, December 20th. BMO Capital Markets raised their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Barclays raised their price objective on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Finally, Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research note on Friday, January 31st. Two research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Celestica currently has an average rating of “Moderate Buy” and a consensus price target of $105.82.

Celestica Profile

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.