Allianz Asset Management GmbH Cuts Stake in Celestica Inc. (NYSE:CLS)

Allianz Asset Management GmbH trimmed its position in shares of Celestica Inc. (NYSE:CLS) (TSE:CLS) by 8.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 684,919 shares of the technology company’s stock after selling 65,490 shares during the quarter. Allianz Asset Management GmbH owned about 0.59% of Celestica worth $63,177,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC purchased a new stake in Celestica during the 4th quarter valued at about $385,000. Quantbot Technologies LP lifted 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 acquiring an additional 56,732 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Celestica during the 3rd quarter valued at about $61,210,000. Sigma Planning Corp bought a new position in Celestica during the 3rd quarter valued at about $420,000. Finally, Advisors Asset Management Inc. lifted 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 acquiring an additional 12,584 shares during the period. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Celestica news, President Todd C. Cooper sold 65,000 shares of the stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $129.78, for a total transaction of $8,435,700.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Michael Wilson sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director now directly 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. In the last ninety days, insiders sold 959,381 shares of company stock valued at $119,142,019. 1.00% of the stock is owned by corporate insiders.

Celestica Trading Down 4.5 %

Celestica stock opened at $119.41 on Friday. The firm has a 50 day moving average of $110.78 and a 200 day moving average of $80.39. The firm has a market capitalization of $13.89 billion, a price-to-earnings ratio of 31.93 and a beta of 2.27. Celestica Inc. has a 12-month low of $38.80 and a 12-month high of $144.27. The company has a current ratio of 1.47, a quick ratio of 0.87 and a debt-to-equity ratio of 0.49.

Analyst Ratings Changes

Several research firms have issued reports on CLS. Barclays upped their target price on shares of Celestica from $139.00 to $157.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. UBS Group began coverage on shares of Celestica in a research note on Friday, November 22nd. They set a “neutral” rating and a $95.00 target price on the stock. CIBC upgraded shares of Celestica from a “neutral” rating to a “sector outperform” rating and set a $150.00 target price on the stock in a research note on Friday, January 31st. Stifel Nicolaus upped their target price on shares of Celestica from $140.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. began coverage on shares of Celestica in a research note on Friday. They issued an “overweight” rating and a $166.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $110.83.

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.