Farmers & Merchants Trust Co of Chambersburg PA lowered its position in shares of Colfax Corp (NYSE:CFX) by 88.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,500 shares of the industrial products company’s stock after selling 18,775 shares during the period. Farmers & Merchants Trust Co of Chambersburg PA’s holdings in Colfax were worth $74,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Macquarie Group Ltd. bought a new stake in Colfax during the 4th quarter worth $27,000. Pinnacle Bank bought a new stake in shares of Colfax in the 4th quarter valued at about $36,000. SG Americas Securities LLC bought a new stake in shares of Colfax in the 4th quarter valued at about $112,000. Group One Trading L.P. bought a new stake in shares of Colfax in the 4th quarter valued at about $121,000. Finally, Citigroup Inc. grew its position in shares of Colfax by 457.7% in the 4th quarter. Citigroup Inc. now owns 8,065 shares of the industrial products company’s stock valued at $168,000 after buying an additional 6,619 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.
In other news, SVP Lynn H. Clark sold 2,666 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $26.50, for a total value of $70,649.00. Following the transaction, the senior vice president now directly owns 35,662 shares of the company’s stock, valued at approximately $945,043. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ian Brander sold 4,260 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $27.01, for a total value of $115,062.60. Following the completion of the transaction, the chief executive officer now directly owns 21,876 shares in the company, valued at $590,870.76. The disclosure for this sale can be found here. 12.00% of the stock is owned by insiders.
Shares of NYSE:CFX opened at $30.43 on Tuesday. The stock has a market capitalization of $3.58 billion, a PE ratio of 13.13, a price-to-earnings-growth ratio of 0.94 and a beta of 1.58. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.22 and a current ratio of 1.63. Colfax Corp has a 1 year low of $18.95 and a 1 year high of $37.05.
Colfax (NYSE:CFX) last announced its quarterly earnings data on Wednesday, February 13th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The company had revenue of $985.00 million for the quarter, compared to the consensus estimate of $982.49 million. Colfax had a return on equity of 7.79% and a net margin of 3.82%. The firm’s revenue was up 12.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.45 EPS. On average, equities research analysts forecast that Colfax Corp will post 2.6 EPS for the current fiscal year.
CFX has been the topic of a number of analyst reports. Zacks Investment Research reiterated a “buy” rating and issued a $22.00 price target on shares of Colfax in a research report on Monday, December 31st. Barclays upgraded Colfax from an “underweight” rating to an “equal weight” rating and set a $28.70 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. Stifel Nicolaus reiterated a “buy” rating and issued a $31.00 price target on shares of Colfax in a research report on Wednesday, December 19th. Raymond James reiterated a “buy” rating and issued a $25.00 price target on shares of Colfax in a research report on Friday, February 22nd. Finally, Oppenheimer reiterated a “buy” rating on shares of Colfax in a research report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $31.51.
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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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