Vanguard Group Inc. raised its holdings in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 919,878 shares of the industrial products company’s stock after buying an additional 7,488 shares during the period. Vanguard Group Inc. owned about 3.94% of Columbus McKinnon worth $36,371,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of CMCO. Morgan Stanley lifted its holdings in Columbus McKinnon by 2.6% in the third quarter. Morgan Stanley now owns 88,921 shares of the industrial products company’s stock worth $3,516,000 after buying an additional 2,215 shares during the period. Nordea Investment Management AB increased its stake in shares of Columbus McKinnon by 22.1% during the third quarter. Nordea Investment Management AB now owns 119,767 shares of the industrial products company’s stock valued at $4,736,000 after purchasing an additional 21,685 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in shares of Columbus McKinnon by 33.9% during the third quarter. TIAA CREF Investment Management LLC now owns 84,517 shares of the industrial products company’s stock valued at $3,342,000 after purchasing an additional 21,400 shares in the last quarter. Teachers Advisors LLC increased its stake in shares of Columbus McKinnon by 4.0% during the third quarter. Teachers Advisors LLC now owns 42,894 shares of the industrial products company’s stock valued at $1,696,000 after purchasing an additional 1,666 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of Columbus McKinnon by 14.1% during the third quarter. Macquarie Group Ltd. now owns 1,280,623 shares of the industrial products company’s stock valued at $50,635,000 after purchasing an additional 157,958 shares in the last quarter. Institutional investors and hedge funds own 97.44% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. ValuEngine raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. BidaskClub raised shares of Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Roth Capital set a $44.00 target price on shares of Columbus McKinnon and gave the company a “buy” rating in a research note on Saturday, February 2nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Columbus McKinnon presently has an average rating of “Buy” and an average target price of $44.50.
Shares of NASDAQ CMCO traded up $0.62 on Tuesday, reaching $35.54. 8,608 shares of the company’s stock traded hands, compared to its average volume of 119,686. Columbus McKinnon Corp. has a 12 month low of $27.66 and a 12 month high of $45.85. The company has a market capitalization of $836.86 million, a price-to-earnings ratio of 17.68 and a beta of 1.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.78.
Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. The company had revenue of $217.42 million during the quarter, compared to the consensus estimate of $215.05 million. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. On average, analysts forecast that Columbus McKinnon Corp. will post 2.63 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, February 11th. Investors of record on Friday, February 1st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date of this dividend was Thursday, January 31st. Columbus McKinnon’s dividend payout ratio (DPR) is currently 9.95%.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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