Mitsubishi UFJ Trust & Banking Corp Cuts Stock Position in Celestica Inc. (NYSE:CLS)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 51.8% during the 4th quarter, according to its most recent disclosure with the 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Whale Rock Capital Management LLC increased its holdings in Celestica by 13.0% during the 3rd quarter. Whale Rock Capital Management LLC now owns 8,467,244 shares of the technology company’s stock worth $432,846,000 after purchasing an additional 975,163 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Celestica during the fourth quarter worth approximately $47,685,000. Point72 Asset Management L.P. raised its holdings in Celestica by 38.5% in the third quarter. Point72 Asset Management L.P. now owns 1,084,722 shares of the technology company’s stock valued at $55,451,000 after acquiring an additional 301,563 shares in the last quarter. Alberta Investment Management Corp lifted its stake in Celestica by 161.5% in the fourth quarter. Alberta Investment Management Corp now owns 279,791 shares of the technology company’s stock worth $25,808,000 after acquiring an additional 172,814 shares during the last quarter. Finally, Sora Investors LLC acquired a new position in Celestica during the 3rd quarter worth approximately $7,668,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Analysts Set New Price Targets

CLS has been the topic of a number of analyst reports. Canaccord Genuity Group raised their price objective on shares of Celestica from $77.00 to $110.00 and gave the company a “buy” rating in a report on Friday, December 20th. Barclays upped their price objective on Celestica from $139.00 to $157.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. initiated coverage on Celestica in a research report on Friday, February 21st. They set an “overweight” rating and a $166.00 target price on the stock. Cibc World Mkts raised Celestica from a “hold” rating to a “strong-buy” rating in a report on Friday, January 31st. Finally, CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 price target on the stock in a research note on Friday, January 31st. Two equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average target price of $110.83.

Insider Buying and Selling at Celestica

In other news, CEO Robert Mionis sold 441,325 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $122.28, for a total transaction of $53,965,221.00. Following the completion of the sale, the chief executive officer now owns 531,417 shares in the company, valued at $64,981,670.76. This represents a 45.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Wilson sold 25,000 shares of Celestica stock in a transaction on Monday, January 6th. The shares were sold at an average price of $98.73, for a total transaction of $2,468,250.00. Following the completion of the transaction, the director now owns 1,784 shares in the company, 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. Insiders sold a total of 959,381 shares of company stock valued at $119,142,019 in the last ninety days. Insiders own 1.00% of the company’s stock.

Celestica Trading Up 0.5 %

NYSE CLS opened at $79.17 on Wednesday. Celestica Inc. has a one year low of $40.25 and a one year high of $144.27. The firm has a market cap of $9.18 billion, a PE ratio of 21.17 and a beta of 2.21. The firm’s fifty day moving average is $107.40 and its two-hundred day moving average is $88.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.87 and a current ratio of 1.47.

Celestica 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.