Mitsubishi UFJ Trust & Banking Corp Sells 22,700 Shares of Celestica Inc. (NYSE:CLS)

Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 51.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,159 shares of the technology company's stock after selling 22,700 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in Celestica were worth $1,953,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Cornerstone Wealth Management LLC acquired a new position in Celestica during the fourth quarter worth $385,000. Raymond James Financial Inc. acquired a new position in shares of Celestica during the 4th quarter worth about $47,685,000. Schechter Investment Advisors LLC acquired a new stake in Celestica in the 4th quarter valued at about $294,000. XTX Topco Ltd bought a new position in Celestica during the third quarter worth about $1,580,000. Finally, American Century Companies Inc. increased its position in Celestica by 16.4% during the fourth quarter. American Century Companies Inc. now owns 219,062 shares of the technology company's stock worth $20,217,000 after buying an additional 30,851 shares during the last quarter. 67.38% of the stock is owned by institutional investors.

Celestica Trading Down 16.2 %

Shares of NYSE CLS traded down $13.35 during trading on Thursday, reaching $69.00. The company had a trading volume of 7,364,204 shares, compared to its average volume of 2,916,472. Celestica Inc. has a 12 month low of $40.25 and a 12 month high of $144.27. The company has a quick ratio of 0.87, a current ratio of 1.47 and a debt-to-equity ratio of 0.49. The stock has a market cap of $8.00 billion, a P/E ratio of 18.45 and a beta of 2.21. The company's fifty day moving average price is $105.80 and its 200-day moving average price is $88.80.

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Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 75,000 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $141.29, for a total value of $10,596,750.00. Following the completion of the sale, the chief executive officer now directly owns 456,417 shares in the company, valued at $64,487,157.93. This trade represents a 14.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Alok K. Agrawal sold 6,826 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $133.92, for a total value of $914,137.92. Following the transaction, the insider now directly owns 9,224 shares in the company, valued at approximately $1,235,278.08. This trade represents a 42.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

CLS has been the topic of a number of recent analyst reports. Barclays boosted their target price on Celestica from $139.00 to $157.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. JPMorgan Chase & Co. initiated coverage on shares of Celestica in a research note on Friday, February 21st. They issued an "overweight" rating and a $166.00 price target on the stock. Stifel Nicolaus boosted their price objective on Celestica from $140.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Royal Bank of Canada lifted their price target on Celestica from $115.00 to $140.00 and gave the stock an "outperform" rating in a report on Friday, January 31st. Finally, CIBC upgraded Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 price objective on the stock in a research report on Friday, January 31st. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Celestica 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.