Mesirow Financial Investment Management Inc. Has $314,000 Stock Position in CECO Environmental Corp. (NASDAQ:CECO)

Mesirow Financial Investment Management Inc. trimmed its position in CECO Environmental Corp. (NASDAQ:CECO) by 23.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,627 shares of the company’s stock after selling 4,118 shares during the quarter. CECO Environmental makes up approximately 1.6% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 23rd largest position. Mesirow Financial Investment Management Inc.’s holdings in CECO Environmental were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CECO. Tower Research Capital LLC TRC grew its position in CECO Environmental by 89.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,641 shares of the company’s stock valued at $94,000 after purchasing an additional 2,195 shares in the last quarter. AJOVista LLC acquired a new position in shares of CECO Environmental in the fourth quarter worth $57,000. Weil Company Inc. raised its holdings in shares of CECO Environmental by 24.1% during 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 in the last quarter. Kessler Investment Group LLC purchased a new stake in shares of CECO Environmental during the fourth quarter worth $125,000. Finally, Calamos Advisors LLC raised its holdings in shares of CECO Environmental by 3.5% during the fourth quarter. Calamos Advisors LLC now owns 217,741 shares of the company’s stock worth $4,416,000 after acquiring an additional 7,430 shares in the last quarter. 68.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman acquired 4,000 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were acquired at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the purchase, the director now owns 205,319 shares of the company’s stock, valued at approximately $5,030,315.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard F. Wallman bought 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The shares were acquired at an average cost of $21.95 per share, with a total value of $109,750.00. Following the completion of the transaction, the director now directly owns 191,853 shares in the company, valued at $4,211,173.35. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard F. Wallman bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were purchased at an average cost of $24.50 per share, for a total transaction of $98,000.00. Following the completion of the transaction, the director now owns 205,319 shares of the company’s stock, valued at $5,030,315.50. The disclosure for this purchase can be found here. 16.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Roth Mkm increased their price objective on CECO Environmental from $22.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Northland Securities increased their price objective on CECO Environmental from $27.00 to $28.00 and gave the stock an “outperform” rating in a report on Wednesday, March 6th. Needham & Company LLC increased their price objective on CECO Environmental from $23.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. HC Wainwright reiterated a “buy” rating and set a $30.00 price objective on shares of CECO Environmental in a report on Wednesday, May 1st. Finally, Craig Hallum raised their target price on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $27.40.

CECO Environmental Stock Up 1.3 %

NASDAQ CECO traded up $0.35 during trading on Wednesday, hitting $28.34. 164,365 shares of the company traded hands, compared to its average volume of 280,881. CECO Environmental Corp. has a 12 month low of $11.46 and a 12 month high of $29.11. The business has a fifty day simple moving average of $24.73 and a 200 day simple moving average of $22.39. The company has a current ratio of 1.38, a quick ratio of 1.19 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $990.20 million, a P/E ratio of 79.97, a PEG ratio of 2.05 and a beta of 1.37.

CECO Environmental (NASDAQ:CECO) last posted its earnings results on Tuesday, April 30th. The company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $126.30 million for the quarter, compared to analyst estimates of $135.82 million. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The business’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. As a group, sell-side analysts predict that CECO Environmental Corp. will post 0.94 EPS for the current year.

About CECO Environmental

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.