Cove Street Capital LLC acquired a new position in Colfax Co. (NYSE:CFX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 596,831 shares of the industrial products company’s stock, valued at approximately $19,039,000. Colfax comprises approximately 2.1% of Cove Street Capital LLC’s portfolio, making the stock its 16th largest position. Cove Street Capital LLC owned approximately 0.48% of Colfax at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in CFX. Itau Unibanco Holding S.A. grew its stake in shares of Colfax by 225.8% in the fourth quarter. Itau Unibanco Holding S.A. now owns 5,170 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 3,583 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Colfax by 49.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,264 shares of the industrial products company’s stock worth $209,000 after acquiring an additional 1,731 shares during the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Colfax in the fourth quarter worth $249,000. Ramsey Quantitative Systems acquired a new stake in shares of Colfax in the fourth quarter worth $281,000. Finally, Gamco Investors INC. ET AL acquired a new stake in shares of Colfax in the first quarter worth $306,000. Institutional investors and hedge funds own 76.44% of the company’s stock.

Several brokerages have recently issued reports on CFX. Oppenheimer restated a “hold” rating on shares of Colfax in a research note on Thursday, May 3rd. Robert W. Baird restated a “buy” rating and issued a $39.00 price objective on shares of Colfax in a research note on Wednesday, April 4th. Stifel Nicolaus lowered their price objective on shares of Colfax from $40.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, May 4th. Citigroup lowered their price objective on shares of Colfax from $30.00 to $28.00 and set a “sell” rating on the stock in a research note on Friday, May 4th. Finally, Royal Bank of Canada downgraded shares of Colfax from an “outperform” rating to a “sector perform” rating and set a $43.00 price objective on the stock. in a research note on Friday, May 4th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $39.67.

In related news, insider Shyam Kambeyanda sold 873 shares of the firm’s stock in a transaction on Monday, May 14th. The stock was sold at an average price of $32.48, for a total value of $28,355.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 1,608 shares of company stock valued at $52,596. 10.20% of the stock is owned by company insiders.

Shares of Colfax opened at $30.58 on Friday, Marketbeat reports. The firm has a market capitalization of $3.87 billion, a P/E ratio of 17.57, a PEG ratio of 0.99 and a beta of 1.27. Colfax Co. has a one year low of $29.02 and a one year high of $43.29. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.97 and a quick ratio of 1.52.

Colfax (NYSE:CFX) last issued its earnings results on Thursday, May 3rd. The industrial products company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.42 by $0.06. The firm had revenue of $881.00 million during the quarter, compared to analysts’ expectations of $822.75 million. Colfax had a return on equity of 6.13% and a net margin of 3.84%. Colfax’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same period last year, the business earned $0.35 earnings per share. sell-side analysts predict that Colfax Co. will post 2.15 earnings per share for the current fiscal year.

Colfax Company Profile

Colfax Corporation operates as a diversified industrial technology company worldwide. The company operates through Air and Gas Handling, and Fabrication Technology segments. The Air and Gas Handling segment designs, manufactures, and supplies heavy-duty centrifugal and axial fans, rotary heat exchangers, and gas compressors, as well as related products, systems, and services.

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Institutional Ownership by Quarter for Colfax (NYSE:CFX)

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