Van ECK Associates Corp Acquires 32,418 Shares of Celestica Inc. (NYSE:CLS)

Van ECK Associates Corp boosted its holdings in shares of Celestica Inc. (NYSE:CLS - Free Report) TSE: CLS by 48.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 99,684 shares of the technology company's stock after acquiring an additional 32,418 shares during the period. Van ECK Associates Corp owned approximately 0.09% of Celestica worth $9,194,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CLS. R Squared Ltd bought a new stake in shares of Celestica in the fourth quarter valued at about $51,000. Financial Management Professionals Inc. bought a new stake in shares of Celestica in the third quarter valued at about $30,000. Private Trust Co. NA lifted its holdings in shares of Celestica by 480.0% in the third quarter. Private Trust Co. NA now owns 870 shares of the technology company's stock valued at $44,000 after purchasing an additional 720 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Celestica by 43.6% in the fourth quarter. UMB Bank n.a. now owns 949 shares of the technology company's stock valued at $88,000 after purchasing an additional 288 shares in the last quarter. Finally, Global Trust Asset Management LLC bought a new stake in shares of Celestica in the third quarter valued at about $51,000. 67.38% of the stock is currently owned by institutional investors.

Celestica Stock Performance

Shares of Celestica stock traded down $6.76 on Thursday, hitting $124.82. The stock had a trading volume of 4,616,029 shares, compared to its average volume of 4,816,003. Celestica Inc. has a twelve month low of $36.11 and a twelve month high of $144.27. The business's 50 day moving average is $109.70 and its two-hundred day moving average is $79.34. 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 $14.52 billion, a price-to-earnings ratio of 33.37 and a beta of 2.27.

Wall Street Analyst Weigh In

A number of analysts have recently commented on CLS shares. UBS Group started coverage on Celestica in a report on Friday, November 22nd. They issued a "neutral" rating and a $95.00 price target on the stock. CIBC raised Celestica from a "neutral" rating to a "sector outperform" rating and set a $150.00 target price on the stock in a research report on Friday, January 31st. TD Cowen lifted their target price on Celestica from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. Barclays lifted their target price on Celestica from $139.00 to $157.00 and gave the company an "overweight" rating in a research report on Thursday, February 13th. Finally, TD Securities lifted their target price on Celestica from $70.00 to $107.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $105.82.

Insider Activity

In related news, CEO Robert Mionis sold 75,000 shares of the business's stock in a transaction that occurred on 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 approximately $64,487,157.93. The trade was a 14.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Michael Wilson sold 25,000 shares of the business's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $98.73, for a total value of $2,468,250.00. Following the completion of the sale, the director now owns 1,784 shares of the company's stock, valued at approximately $176,134.32. This trade represents a 93.34 % 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 owned by insiders.

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.