Todays Report: The Deprince Race & Zollo Inc. Sold shares of CAE Inc. (CAE)

The Deprince Race & Zollo Inc. Sold shares of CAE Inc. (CAE)

Deprince Race & Zollo Inc. cut its stake in shares of CAE Inc. (NYSE:CAE) by 4.1% during the second quarter, Holdings Channel reports. The fund owned 38,500 shares of the company’s stock after selling 1,660 shares during the period. Deprince Race & Zollo Inc.’s holdings in CAE were worth $463,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Candriam Luxembourg S.C.A. boosted its stake in CAE by 7.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 38,458 shares of the company’s stock worth $462,000 after buying an additional 2,531 shares in the last quarter. Bank of Montreal Can acquired a new stake in CAE during the second quarter worth $24,799,000. Highstreet Asset Management Inc. boosted its stake in CAE by 7.8% in the second quarter. Highstreet Asset Management Inc. now owns 97,921 shares of the company’s stock worth $1,183,000 after buying an additional 7,058 shares in the last quarter. Eqis Capital Management Inc. boosted its stake in CAE by 14.6% in the second quarter. Eqis Capital Management Inc. now owns 20,353 shares of the company’s stock worth $246,000 after buying an additional 2,586 shares in the last quarter. Finally, Nexus Investment Management Inc. boosted its stake in CAE by 1.7% in the second quarter. Nexus Investment Management Inc. now owns 943,375 shares of the company’s stock worth $11,320,000 after buying an additional 15,900 shares in the last quarter. Institutional investors and hedge funds own 56.57% of the company’s stock.

Shares of CAE Inc. (NYSE:CAE) traded down 0.98% during midday trading on Friday, reaching $14.10. 57,426 shares of the company were exchanged. The company’s 50-day moving average price is $14.16 and its 200 day moving average price is $12.82. CAE Inc. has a 52-week low of $9.34 and a 52-week high of $14.63. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of 19.80 and a beta of 0.99.

CAE (NYSE:CAE) last issued its quarterly earnings data on Wednesday, August 10th. The company reported $0.26 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.06. CAE had a net margin of 9.76% and a return on equity of 13.25%. The firm had revenue of $651.60 million for the quarter, compared to analyst estimates of $464.69 million. During the same quarter in the previous year, the business posted $0.19 EPS. The firm’s revenue was up 17.0% compared to the same quarter last year. On average, equities analysts predict that CAE Inc. will post $0.74 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Thursday, September 15th were issued a $0.0607 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $0.24 dividend on an annualized basis and a yield of 1.72%. This is a positive change from CAE’s previous quarterly dividend of $0.06. CAE’s payout ratio is currently 33.80%.

A number of analysts have weighed in on CAE shares. AltaCorp Capital restated a “sector perform” rating and issued a $18.00 price target (up from $17.00) on shares of CAE in a research note on Saturday, August 13th. Zacks Investment Research raised CAE from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, September 20th. TD Securities lowered CAE from a “buy” rating to a “hold” rating and raised their price objective for the stock from $19.00 to $19.50 in a report on Monday, August 15th. Macquarie reaffirmed a “neutral” rating on shares of CAE in a report on Saturday, August 13th. Finally, BMO Capital Markets reaffirmed a “market perform” rating and set a $18.00 price objective (up previously from $17.00) on shares of CAE in a report on Saturday, August 13th. Seven analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.00.

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