Entropy Technologies LP Sells 40,565 Shares of Celestica Inc. (NYSE:CLS)

Entropy Technologies LP cut its stake in Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 92.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,139 shares of the technology company's stock after selling 40,565 shares during the period. Entropy Technologies LP's holdings in Celestica were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Moloney Securities Asset Management LLC acquired a new position in shares of Celestica in the fourth quarter worth $537,000. Kingsview Wealth Management LLC purchased a new stake in Celestica during the 4th quarter worth about $456,000. Livforsakringsbolaget Skandia Omsesidigt acquired a new position in Celestica in the 4th quarter valued at about $4,549,000. Adero Partners LLC purchased a new position in Celestica in the 4th quarter valued at about $207,000. Finally, Fruth Investment Management acquired a new stake in shares of Celestica during the 4th quarter worth about $286,000. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

Shares of NYSE CLS traded up $2.38 during midday trading on Monday, hitting $132.16. The company's stock had a trading volume of 2,707,072 shares, compared to its average volume of 5,877,522. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47. The firm's fifty day moving average price is $107.98 and its 200-day moving average price is $78.37. Celestica Inc. has a 1-year low of $36.11 and a 1-year high of $144.27. The firm has a market cap of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank of Canada raised their target price on shares of Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a research report on Friday, January 31st. BMO Capital Markets increased their price target on Celestica from $64.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. TD Cowen lifted their price objective on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Cibc World Mkts upgraded Celestica from a "hold" rating to a "strong-buy" rating in a research report on Friday, January 31st. Finally, Canaccord Genuity Group raised 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, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Celestica has a consensus rating of "Moderate Buy" and a consensus price target of $104.91.

Insiders Place Their Bets

In other Celestica news, CEO Robert Mionis sold 52,588 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $127.54, for a total transaction of $6,707,073.52. Following the completion of the transaction, the chief executive officer now directly owns 531,417 shares of the company's stock, valued at approximately $67,776,924.18. This trade represents a 9.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction dated 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 directly owns 1,784 shares in the company, valued at approximately $176,134.32. The trade was a 93.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 959,381 shares of company stock valued at $119,142,019 over the last three months. Company insiders own 1.00% of the company's stock.

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.