SIFCO Industries (NYSE:SIF) Stock Price Up 1.3% – Time to Buy?

SIFCO Industries, Inc. (NYSE:SIF) rose 1.3% during mid-day trading on Wednesday . The stock traded as high as $3.65 and last traded at $3.56. Approximately 13,629 shares traded hands during trading, an increase of 25% from the average daily volume of 10,935 shares. The stock had previously closed at $3.51.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen initiated coverage on shares of SIFCO Industries in a research note on Wednesday, May 21st. They issued a “buy” rating on the stock.

SIFCO Industries Trading Up 1.3%

The stock has a market cap of $21.85 million, a P/E ratio of -5.01 and a beta of 0.97. The business’s fifty day simple moving average is $2.89 and its 200 day simple moving average is $3.24.

Institutional Trading of SIFCO Industries

A hedge fund recently raised its stake in SIFCO Industries stock. Minerva Advisors LLC raised its position in SIFCO Industries, Inc. (NYSE:SIF) by 10.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 466,751 shares of the company’s stock after buying an additional 42,862 shares during the period. SIFCO Industries comprises approximately 1.0% of Minerva Advisors LLC’s holdings, making the stock its 24th largest holding. Minerva Advisors LLC owned about 7.56% of SIFCO Industries worth $1,754,000 at the end of the most recent reporting period. Institutional investors own 24.20% of the company’s stock.

About SIFCO Industries

SIFCO Industries, Inc, together with its subsidiaries, produces and sells forgings and machined components primarily for the aerospace and energy markets in North America and Europe. The company’s processes and services include forging, heat-treating, chemical processing, and machining. It also offers original equipment manufacturer and aftermarket components for aircraft and industrial gas turbine engines; steam turbine blades; structural airframe components; aircraft landing gear components; aircraft wheels and brakes; rotating components for helicopters; and commercial/industrial products.