Sei Investments Co. Buys 104,875 Shares of Gates Industrial Corp PLC (NYSE:GTES)

Sei Investments Co. boosted its stake in Gates Industrial Corp PLC (NYSE:GTES) by 6.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,717,003 shares of the company’s stock after buying an additional 104,875 shares during the period. Sei Investments Co.’s holdings in Gates Industrial were worth $35,319,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. increased its stake in shares of Gates Industrial by 2,968.6% in the fourth quarter. Assetmark Inc. now owns 1,565 shares of the company’s stock worth $32,000 after buying an additional 1,514 shares during the period. Versant Capital Management Inc increased its position in shares of Gates Industrial by 178.3% in the fourth quarter. Versant Capital Management Inc now owns 2,494 shares of the company’s stock valued at $51,000 after acquiring an additional 1,598 shares during the period. SRS Capital Advisors Inc. raised its stake in shares of Gates Industrial by 38.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 2,622 shares of the company’s stock valued at $54,000 after acquiring an additional 724 shares during the last quarter. Quarry LP purchased a new stake in shares of Gates Industrial during the third quarter worth about $71,000. Finally, GAMMA Investing LLC grew its stake in shares of Gates Industrial by 29.0% in the fourth quarter. GAMMA Investing LLC now owns 5,026 shares of the company’s stock worth $103,000 after purchasing an additional 1,130 shares during the last quarter. Institutional investors own 98.50% of the company’s stock.

Gates Industrial Stock Performance

Shares of Gates Industrial stock opened at $20.11 on Tuesday. The business has a fifty day simple moving average of $20.84 and a two-hundred day simple moving average of $20.09. The firm has a market capitalization of $5.14 billion, a P/E ratio of 27.54 and a beta of 1.33. The company has a current ratio of 3.20, a quick ratio of 2.26 and a debt-to-equity ratio of 0.72. Gates Industrial Corp PLC has a 12 month low of $15.14 and a 12 month high of $23.85.

Gates Industrial (NYSE:GTES) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.33. Gates Industrial had a net margin of 5.72% and a return on equity of 9.75%. On average, equities analysts forecast that Gates Industrial Corp PLC will post 1.36 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on GTES. Barclays lowered their price target on Gates Industrial from $27.00 to $26.00 and set an “overweight” rating for the company in a research report on Monday, March 10th. Royal Bank of Canada upped their target price on Gates Industrial from $25.00 to $27.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Jefferies Financial Group raised their price target on Gates Industrial from $23.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. The Goldman Sachs Group reduced their price objective on shares of Gates Industrial from $26.00 to $23.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 19th. Finally, Evercore ISI raised their target price on shares of Gates Industrial from $22.00 to $23.00 and gave the stock an “in-line” rating in a research report on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Gates Industrial presently has a consensus rating of “Moderate Buy” and an average price target of $24.11.

Insider Transactions at Gates Industrial

In related news, Director Fredrik J. Eliasson purchased 60,000 shares of the stock in a transaction dated Friday, March 7th. The stock was purchased at an average price of $19.56 per share, with a total value of $1,173,600.00. Following the transaction, the director now directly owns 188,452 shares in the company, valued at $3,686,121.12. This trade represents a 46.71 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.30% of the company’s stock.

About Gates Industrial

Gates Industrial Corporation PLC designs and manufactures power transmission equipment. Its products serves harsh and hazardous industries such as agriculture, construction, manufacturing and energy, to everyday consumer applications such as printers, power washers, automatic doors and vacuum cleaners and virtually every form of transportation.