SIFCO Industries (NYSE:SIF) Stock Price Down 2.5% – Here’s Why

Shares of SIFCO Industries, Inc. (NYSE:SIF) were down 2.5% during mid-day trading on Monday . The stock traded as low as $6.96 and last traded at $7.00. Approximately 5,169 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 18,568 shares. The stock had previously closed at $7.18.

SIFCO Industries Stock Performance

The firm’s 50 day moving average is $6.36 and its 200-day moving average is $4.33. The firm has a market cap of $43.26 million, a price-to-earnings ratio of -9.86 and a beta of 1.10.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in SIFCO Industries stock. Thompson Davis & CO. Inc. bought a new position in SIFCO Industries, Inc. (NYSE:SIF) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 10,222 shares of the company’s stock, valued at approximately $38,000. Thompson Davis & CO. Inc. owned 0.17% of SIFCO Industries at the end of the most recent reporting period. Institutional investors and hedge funds 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.