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

Shares of SIFCO Industries, Inc. (NYSE:SIF – Get Free Report) were up 1.6% during trading on Monday. The stock traded as high as $22.51 and last traded at $22.42. 33,963 shares changed hands during mid-day 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 Up 1.6%

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

Institutional Investors Weigh In On SIFCO Industries

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC acquired a new stake in SIFCO Industries during the second quarter worth about $305,000. BlackRock Inc. purchased a new position in SIFCO Industries during the second quarter valued at approximately $647,000. Finally, Corsair Capital Management L.P. purchased a new position in SIFCO Industries during the first quarter valued at approximately $209,000. 24.20% of the stock is owned by institutional investors and hedge funds.

About SIFCO Industries

(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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