Private Management Group Inc. Has $338,000 Holdings in Colfax Corporation (CFX)

Private Management Group Inc. trimmed its stake in Colfax Corporation (NYSE:CFX) by 69.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,121 shares of the industrial products company’s stock after selling 18,090 shares during the period. Private Management Group Inc.’s holdings in Colfax Corporation were worth $338,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Paloma Partners Management Co bought a new stake in Colfax Corporation in the first quarter valued at $392,000. Capital Fund Management S.A. bought a new stake in Colfax Corporation in the second quarter valued at $1,154,000. BlackRock Inc. grew its position in Colfax Corporation by 1.7% in the second quarter. BlackRock Inc. now owns 4,174,568 shares of the industrial products company’s stock valued at $164,353,000 after acquiring an additional 70,676 shares during the period. Principal Financial Group Inc. grew its position in Colfax Corporation by 1.1% in the second quarter. Principal Financial Group Inc. now owns 8,956,040 shares of the industrial products company’s stock valued at $352,600,000 after acquiring an additional 95,361 shares during the period. Finally, Oak Ridge Investments LLC bought a new stake in Colfax Corporation in the second quarter valued at $46,085,000. Hedge funds and other institutional investors own 75.32% of the company’s stock.

Shares of Colfax Corporation (CFX) traded down $0.42 during mid-day trading on Thursday, hitting $34.88. The stock had a trading volume of 1,544,700 shares, compared to its average volume of 709,459. The company has a quick ratio of 1.47, a current ratio of 1.80 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $4,345.99, a PE ratio of 21.26, a PEG ratio of 2.22 and a beta of 1.30. Colfax Corporation has a 12 month low of $33.31 and a 12 month high of $43.29.

Colfax Corporation (NYSE:CFX) last posted its quarterly earnings results on Monday, November 6th. The industrial products company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $844.50 million for the quarter, compared to analysts’ expectations of $901.09 million. Colfax Corporation had a return on equity of 6.26% and a net margin of 4.89%. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.39 earnings per share. equities research analysts forecast that Colfax Corporation will post 1.71 earnings per share for the current year.

WARNING: This report was first posted by Markets Daily and is owned by of Markets Daily. If you are reading this report on another website, it was copied illegally and reposted in violation of US & international copyright and trademark law. The original version of this report can be accessed at https://www.themarketsdaily.com/2017/11/16/private-management-group-inc-has-338000-holdings-in-colfax-corporation-cfx.html.

CFX has been the topic of a number of analyst reports. BidaskClub cut Colfax Corporation from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Robert W. Baird upgraded Colfax Corporation from a “neutral” rating to an “outperform” rating and upped their price target for the company from $47.00 to $50.00 in a research report on Monday, July 31st. Zacks Investment Research upgraded Colfax Corporation from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Tuesday, August 1st. KeyCorp upgraded Colfax Corporation from a “sector weight” rating to an “overweight” rating and set a $46.00 target price on the stock in a report on Friday, August 25th. They noted that the move was a valuation call. Finally, Argus restated a “buy” rating and set a $50.00 target price on shares of Colfax Corporation in a report on Tuesday, August 29th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and seven have given a buy rating to the company’s stock. Colfax Corporation has an average rating of “Hold” and an average target price of $46.40.

In related news, SVP Stephen Wittig sold 29,189 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $39.30, for a total value of $1,147,127.70. Following the transaction, the senior vice president now owns 15,479 shares in the company, valued at $608,324.70. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 10.60% of the stock is owned by company insiders.

Colfax Corporation Company Profile

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid handling and fabrication technology products and services to customers around the world. The Company’s segments include Gas and Fluid Handling, and Fabrication Technology. The Gas and Fluid Handling segment supplies a range of gas and fluid handling products, including heavy-duty centrifugal and axial fans, rotary heat exchangers, gas compressors, pumps and certain related products, as well as aftermarket and lubrication-related services, which serves customers in the power generation, oil, gas and petrochemical, mining, marine (including defense) and general industrial and other end markets.

Want to see what other hedge funds are holding CFX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Colfax Corporation (NYSE:CFX).

Institutional Ownership by Quarter for Colfax Corporation (NYSE:CFX)

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

Latest News

Leave a Reply