Arrowstreet Capital Limited Partnership Increases Stake in Celestica, Inc. $CLS

Arrowstreet Capital Limited Partnership lifted its position in Celestica, Inc. (NYSE:CLS) (TSE:CLS) by 471.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,146,928 shares of the technology company’s stock after acquiring an additional 2,596,318 shares during the quarter. Arrowstreet Capital Limited Partnership owned 2.74% of Celestica worth $775,133,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CLS. Pinney & Scofield Inc. grew its holdings in Celestica by 20.0% during the 3rd quarter. Pinney & Scofield Inc. now owns 180 shares of the technology company’s stock worth $44,000 after acquiring an additional 30 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Celestica by 42.5% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 124 shares of the technology company’s stock valued at $31,000 after purchasing an additional 37 shares in the last quarter. World Equity Group Inc. lifted its position in shares of Celestica by 1.7% in the 3rd quarter. World Equity Group Inc. now owns 2,263 shares of the technology company’s stock worth $558,000 after purchasing an additional 38 shares during the period. Pure Financial Advisors LLC lifted its position in shares of Celestica by 3.2% in the 3rd quarter. Pure Financial Advisors LLC now owns 1,617 shares of the technology company’s stock worth $398,000 after purchasing an additional 50 shares during the period. Finally, McIlrath & Eck LLC boosted its stake in shares of Celestica by 43.3% during the third quarter. McIlrath & Eck LLC now owns 182 shares of the technology company’s stock valued at $45,000 after purchasing an additional 55 shares in the last quarter. 67.38% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Celestica

In related news, insider Yann L. Etienvre sold 1,145 shares of the business’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $283.51, for a total transaction of $324,618.95. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Jason Phillips sold 100,000 shares of the company’s stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $308.92, for a total value of $30,892,000.00. Following the transaction, the president directly owned 12,584 shares in the company, valued at $3,887,449.28. This represents a 88.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 297,923 shares of company stock valued at $88,027,459 in the last quarter. 0.52% of the stock is currently owned by corporate insiders.

Celestica Trading Down 0.3%

NYSE CLS opened at $265.03 on Friday. Celestica, Inc. has a 52 week low of $58.05 and a 52 week high of $363.40. The company has a 50 day moving average price of $293.34 and a 200 day moving average price of $286.04. The company has a quick ratio of 0.88, a current ratio of 1.44 and a debt-to-equity ratio of 0.34. The firm has a market cap of $30.49 billion, a PE ratio of 36.91 and a beta of 1.88.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CLS. Aletheia Capital lifted their price objective on shares of Celestica from $330.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, January 20th. Citigroup dropped their target price on Celestica from $375.00 to $338.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Bank of America began coverage on Celestica in a report on Wednesday, January 28th. They issued a “buy” rating and a $400.00 price target on the stock. TD Securities boosted their price target on Celestica from $305.00 to $330.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. Finally, Wall Street Zen upgraded Celestica from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Celestica has a consensus rating of “Moderate Buy” and an average price target of $354.24.

Celestica Profile

Celestica Inc is a multinational electronics manufacturing services (EMS) company that provides design, engineering, manufacturing and supply chain solutions to original equipment manufacturers across a range of industries. Headquartered in Toronto, Ontario, Canada, Celestica works with customers to develop and produce complex electronic and electro-mechanical products, integrating activities from product design and prototyping through high-volume assembly, testing and final system integration.

The company’s service offering typically includes product engineering and design support, printed circuit board assembly, box-build and systems assembly, automated test and inspection, aftermarket repair and refurbishment, and end-to-end supply chain and logistics management.