SIFCO Industries (NYSE:SIF) Shares Climb 1.6% – Time to Buy?

by · The Markets Daily

SIFCO Industries, Inc. (NYSE:SIF – Get Free Report) shot up 1.6% during trading on Monday. The company traded as high as $22.51 and last traded at $22.42. Approximately 33,963 shares changed hands during trading, a decline of 65% from the average session volume of 97,566 shares. The stock had previously closed at $22.06.

SIFCO Industries Stock Performance

The firm’s 50 day moving average is $22.73 and its 200-day moving average is $19.88. The stock has a market capitalization of $140.21 million, a price-to-earnings ratio of -31.58 and a beta of 0.69.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SIF. BlackRock Inc. acquired a new position in shares of SIFCO Industries in the second quarter worth about $647,000. Corsair Capital Management L.P. acquired a new stake in shares of SIFCO Industries during the 1st quarter valued at about $209,000. Finally, NewEdge Advisors LLC acquired a new stake in shares of SIFCO Industries during the 2nd quarter valued at about $305,000. Hedge funds and other institutional investors own 24.20% of the company’s stock.

SIFCO Industries Company Profile

(Get Free Report)

SIFCO Industries, Inc is a Cleveland, Ohio-based manufacturer of forged and machined metal components. The company specializes in closed-die forgings and related processing services for components made from materials such as nickel-based superalloys, titanium, steel and aluminum.

SIFCO’s products and services include forging, heat treating, machining, nondestructive testing and other finishing operations. Its components are used in demanding applications across the aerospace, power generation, energy, space and commercial markets, including aircraft and engine systems, landing gear, industrial turbines and other critical equipment.

Founded in 1913, SIFCO Industries has developed manufacturing capabilities serving customers in the United States and international markets.

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