Hound Partners Lowers stake in Colfax Corp (CFX)

Colfax Corp (CFX) : Hound Partners reduced its stake in Colfax Corp by 10.37% during the most recent quarter end. The investment management company now holds a total of 4,583,215 shares of Colfax Corp which is valued at $171,870,563 after selling 530,215 shares in Colfax Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Colfax Corp makes up approximately 4.92% of Hound Partners’s portfolio.

Other Hedge Funds, Including , Wolverine Trading added CFX to its portfolio by purchasing 8,855 company shares during the most recent quarter which is valued at $332,063. Colfax Corp makes up approx 0.02% of Wolverine Trading’s portfolio.East Coast Asset Management. reduced its stake in CFX by selling 40,190 shares or 54.28% in the most recent quarter. The Hedge Fund company now holds 33,848 shares of CFX which is valued at $1,183,326. Colfax Corp makes up approx 0.61% of East Coast Asset Management.’s portfolio. Blackrock Japan Ltd sold out all of its stake in CFX during the most recent quarter. The investment firm sold 1,605 shares of CFX which is valued $53,591.

Colfax Corp closed down -0.29 points or -0.79% at $36.42 with 6,19,402 shares getting traded on Monday. Post opening the session at $36.8, the shares hit an intraday low of $36.31 and an intraday high of $36.91 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Colfax Corp reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $879.20 million for the quarter, compared to analysts expectations of $892.30 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Colfax Corp. Colfax Corp was Upgraded by Argus to ” Buy” on Nov 14, 2016. Company shares were Reiterated by Stifel on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 37 from a previous price target of $33 .

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and Governmental customers around the world under the Howden ESAB and Colfax Fluid Handling brand names. The Company’s segments include gas and fluid handling and fabrication technology. The gas and fluid handling segment supplies a range of products including heavy-duty centrifugal and axial fans rotary heat exchangers gas compressors pumps fluid-handling systems and controls and specialty valves which serves customers in the power generation oil gas and petrochemical mining marine (including defense) and general industrial and other end markets. Fabrication technology segment formulates develops manufactures and supplies consumable products and equipment for the cutting and joining of steels aluminum and other metals and metal alloys.

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