Cumberland Partners Ltd Sells 7,000 Shares of Celestica Inc. (NYSE:CLS)

Cumberland Partners Ltd cut its holdings in Celestica Inc. (NYSE:CLS) (TSE:CLS) by 64.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the technology company’s stock after selling 7,000 shares during the period. Cumberland Partners Ltd’s holdings in Celestica were worth $351,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new stake in Celestica in the fourth quarter worth $385,000. Quantbot Technologies LP boosted its holdings in Celestica by 120.9% in the third quarter. Quantbot Technologies LP now owns 103,660 shares of the technology company’s stock worth $5,299,000 after purchasing an additional 56,732 shares in the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in Celestica in the third quarter worth $61,210,000. Sigma Planning Corp bought a new stake in Celestica in the third quarter worth $420,000. Finally, Advisors Asset Management Inc. boosted its holdings in Celestica by 61.9% in the third quarter. Advisors Asset Management Inc. now owns 32,901 shares of the technology company’s stock worth $1,682,000 after purchasing an additional 12,584 shares in the last quarter. 67.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target for the company in a report on Friday, January 31st. BMO Capital Markets upped their price objective on shares of Celestica from $64.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Stifel Nicolaus upped their price objective on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday. Canaccord Genuity Group upped their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, December 20th. Finally, Cibc World Mkts raised shares of Celestica from a “hold” rating to a “strong-buy” rating in a research report on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $105.82.

Celestica Stock Performance

NYSE:CLS opened at $124.82 on Friday. Celestica Inc. has a 12-month low of $36.11 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 firm has a market capitalization of $14.52 billion, a PE ratio of 33.37 and a beta of 2.27. The firm has a 50-day moving average price of $110.38 and a 200 day moving average price of $79.66.

Insider Buying and Selling

In related news, Director Michael Wilson sold 25,000 shares of the stock in a transaction dated 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 transaction, the director now owns 1,784 shares of the company’s stock, valued at $176,134.32. This represents a 93.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Todd C. Cooper sold 65,000 shares of the stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the transaction, the president now directly owns 110,426 shares of the company’s stock, valued at $14,331,086.28. This trade represents a 37.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 959,381 shares of company stock valued at $119,142,019 over the last quarter. Corporate insiders own 1.00% of the company’s stock.

Celestica Company Profile

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.