Bares Capital Management Lowers stake in Colfax Corp (CFX)

Colfax Corp (CFX) : Bares Capital Management reduced its stake in Colfax Corp by 3.42% during the most recent quarter end. The investment management company now holds a total of 3,987,811 shares of Colfax Corp which is valued at $149,542,913 after selling 141,358 shares in Colfax Corp , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Colfax Corp makes up approximately 8.67% of Bares Capital Management’s portfolio.

Other Hedge Funds, Including , Panagora Asset Management Inc reduced its stake in CFX by selling 9,854 shares or 60.37% in the most recent quarter. The Hedge Fund company now holds 6,470 shares of CFX which is valued at $235,249.Teachers Advisors reduced its stake in CFX by selling 53,171 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 1,458,483 shares of CFX which is valued at $48,698,747. Colfax Corp makes up approx 0.08% of Teachers Advisors’s portfolio.Swiss National Bank reduced its stake in CFX by selling 2,300 shares or 1.52% in the most recent quarter. The Hedge Fund company now holds 148,800 shares of CFX which is valued at $4,968,432. Colfax Corp makes up approx 0.01% of Swiss National Bank’s portfolio.Seven Bridges Advisors reduced its stake in CFX by selling 388 shares or 1.97% in the most recent quarter. The Hedge Fund company now holds 19,332 shares of CFX which is valued at $592,332. Colfax Corp makes up approx 0.54% of Seven Bridges Advisors’s portfolio.

Colfax Corp closed down -0.29 points or -0.79% at $36.42 with 6,19,402 shares getting traded on Monday. Post opening the session at $36.8, the shares hit an intraday low of $36.31 and an intraday high of $36.91 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Colfax Corp reported $0.39 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $0.35. The company had revenue of $879.20 million for the quarter, compared to analysts expectations of $892.30 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on Colfax Corp. Colfax Corp was Upgraded by Argus to ” Buy” on Nov 14, 2016. Company shares were Reiterated by Stifel on Oct 28, 2016 to “Buy”, Firm has raised the Price Target to $ 37 from a previous price target of $33 .

Colfax Corporation is an industrial manufacturing and engineering company. The Company provides gas and fluid-handling and fabrication technology products and services to commercial and Governmental customers around the world under the Howden ESAB and Colfax Fluid Handling brand names. The Company’s segments include gas and fluid handling and fabrication technology. The gas and fluid handling segment supplies a range of products including heavy-duty centrifugal and axial fans rotary heat exchangers gas compressors pumps fluid-handling systems and controls and specialty valves which serves customers in the power generation oil gas and petrochemical mining marine (including defense) and general industrial and other end markets. Fabrication technology segment formulates develops manufactures and supplies consumable products and equipment for the cutting and joining of steels aluminum and other metals and metal alloys.

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