Bank of New York Mellon Corp Boosts Stock Position in Celestica Inc. (NYSE:CLS)

Bank of New York Mellon Corp increased its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 31.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 99,347 shares of the technology company's stock after purchasing an additional 23,725 shares during the quarter. Bank of New York Mellon Corp owned about 0.09% of Celestica worth $9,170,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Cornerstone Wealth Management LLC purchased a new position in shares of Celestica in the fourth quarter valued at $385,000. Quantbot Technologies LP grew its position in Celestica by 120.9% during the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company's stock worth $5,299,000 after buying an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in Celestica during the third quarter worth about $61,210,000. Sigma Planning Corp purchased a new position in Celestica during the third quarter worth about $420,000. Finally, Advisors Asset Management Inc. grew its position in Celestica by 61.9% during the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock worth $1,682,000 after buying an additional 12,584 shares in the last quarter. 67.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Celestica

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the company's stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the transaction, the president now owns 110,426 shares in the company, valued at approximately $14,331,086.28. This represents a 37.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $98.73, for a total value of $2,468,250.00. Following the transaction, the director now owns 1,784 shares in the company, valued at $176,134.32. This trade represents a 93.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 959,381 shares of company stock worth $119,142,019 in the last 90 days. Company insiders own 1.00% of the company's stock.

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Celestica Trading Down 4.6 %

NYSE:CLS traded down $4.25 during mid-day trading on Tuesday, reaching $87.53. 3,283,860 shares of the company's stock traded hands, compared to its average volume of 2,720,207. Celestica Inc. has a 12-month low of $40.25 and a 12-month high of $144.27. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 23.40 and a beta of 2.21. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. The company has a 50 day moving average price of $110.59 and a 200-day moving average price of $85.19.

Analysts Set New Price Targets

Several research firms recently commented on CLS. CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. began coverage on Celestica in a research note on Friday, February 21st. They set an "overweight" rating and a $166.00 price target for the company. TD Securities lifted their price target on Celestica from $70.00 to $107.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. UBS Group began coverage on Celestica in a research note on Friday, November 22nd. They set a "neutral" rating and a $95.00 price target for the company. Finally, Canaccord Genuity Group lifted their price target on Celestica from $77.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, December 20th. Two research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Celestica presently has an average rating of "Moderate Buy" and a consensus price target of $110.83.

About Celestica

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.