Cumberland Partners Ltd cut its position in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 64.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,800 shares of the technology company's stock after selling 7,000 shares during the quarter. Cumberland Partners Ltd's holdings in Celestica were worth $351,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in CLS. Cornerstone Wealth Management LLC acquired a new position in Celestica in the fourth quarter valued at $385,000. Quantbot Technologies LP grew its holdings in shares of 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 during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in Celestica in the 3rd quarter valued at about $61,210,000. Sigma Planning Corp purchased a new stake in Celestica during the 3rd quarter valued at approximately $420,000. Finally, Advisors Asset Management Inc. raised its stake in Celestica by 61.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company's stock valued at $1,682,000 after acquiring an additional 12,584 shares during the last quarter. Hedge funds and other institutional investors own 67.38% of the company's stock.
Celestica Price Performance
Shares of CLS stock traded down $5.61 during midday trading on Friday, reaching $119.41. 4,461,770 shares of the company traded hands, compared to its average volume of 4,805,599. The firm's 50 day simple moving average is $110.78 and its two-hundred day simple moving average is $80.16. The firm has a market cap of $13.89 billion, a PE ratio of 31.93 and a beta of 2.27. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.47 and a quick ratio of 0.87. Celestica Inc. has a 1-year low of $38.80 and a 1-year high of $144.27.
Insider Activity at Celestica
In other news, President Todd C. Cooper sold 9,538 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $1,216,476.52. Following the completion of the transaction, the president now owns 175,426 shares in the company, valued at $22,373,832.04. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Robert Mionis sold 52,588 shares of Celestica stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total value of $6,707,073.52. Following the transaction, the chief executive officer now directly owns 531,417 shares of the company's stock, valued at $67,776,924.18. This trade represents a 9.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 in the last ninety days. Corporate insiders own 1.00% of the company's stock.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the company. Cibc World Mkts raised Celestica from a "hold" rating to a "strong-buy" rating in a report on Friday, January 31st. TD Securities boosted their price objective on shares of Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research report on Friday. They set an "overweight" rating and a $166.00 price objective for the company. CIBC raised shares of Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a report on Friday, January 31st. Finally, UBS Group initiated coverage on shares of Celestica in a report on Friday, November 22nd. They set a "neutral" rating and a $95.00 price target for the company. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $110.83.
View Our Latest Research Report on CLS
About Celestica
(
Free Report)
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.
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