Van ECK Associates Corp Boosts Stock Position in Celestica Inc. (NYSE:CLS)

Van ECK Associates Corp raised its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 48.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 99,684 shares of the technology company’s stock after purchasing an additional 32,418 shares during the quarter. Van ECK Associates Corp’s holdings in Celestica were worth $9,194,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in Celestica during the 4th quarter valued at about $385,000. Quantbot Technologies LP grew its stake in Celestica by 120.9% during the 3rd quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock valued at $5,299,000 after purchasing an additional 56,732 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Celestica during the 3rd quarter valued at about $61,210,000. Sigma Planning Corp purchased a new stake in Celestica during the 3rd quarter valued at about $420,000. Finally, Advisors Asset Management Inc. grew 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 purchasing 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

NYSE:CLS opened at $132.16 on Monday. Celestica Inc. has a 12 month low of $36.11 and a 12 month high of $144.27. The stock has a 50 day moving average of $107.15 and a two-hundred day moving average of $77.79. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49. The firm has a market cap of $15.38 billion, a P/E ratio of 35.34 and a beta of 2.27.

Analyst Upgrades and Downgrades

CLS has been the subject of several analyst reports. Royal Bank of Canada boosted their price objective on Celestica from $115.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, January 31st. Stifel Nicolaus initiated coverage on Celestica in a report on Tuesday, February 4th. They issued a “buy” rating and a $140.00 price objective for the company. BMO Capital Markets boosted their price objective on Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Canaccord Genuity Group boosted their price objective on Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Finally, TD Cowen boosted their price objective on Celestica from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Two investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $104.91.

Insiders Place Their Bets

In other Celestica news, Director Michael Wilson sold 25,000 shares of the business’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 transaction of $2,468,250.00. Following the completion of the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $122.28, for a total value of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares of the company’s stock, valued at $64,981,670.76. This trade represents a 45.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 959,381 shares of company stock worth $119,142,019. Corporate 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.