Gotham Asset Management LLC cut its stake in Columbus McKinnon Corp. (NASDAQ:CMCO) by 50.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,344 shares of the industrial products company’s stock after selling 21,975 shares during the period. Gotham Asset Management LLC owned approximately 0.09% of Columbus McKinnon worth $643,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Acadian Asset Management LLC raised its position in Columbus McKinnon by 219.6% during the fourth quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,298 shares during the period. Citigroup Inc. lifted its stake in Columbus McKinnon by 15.4% in the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock worth $217,000 after acquiring an additional 957 shares in the last quarter. Metropolitan Life Insurance Co. NY boosted its position in Columbus McKinnon by 369.9% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 7,307 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 5,752 shares during the period. LPL Financial LLC acquired a new stake in Columbus McKinnon during the 3rd quarter worth about $222,000. Finally, PNC Financial Services Group Inc. grew its stake in Columbus McKinnon by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,390 shares of the industrial products company’s stock valued at $222,000 after acquiring an additional 590 shares in the last quarter. Institutional investors and hedge funds own 97.54% of the company’s stock.
A number of equities analysts have recently weighed in on CMCO shares. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BidaskClub upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Roth Capital set a $44.00 price target on shares of Columbus McKinnon and gave the company a “buy” rating in a report on Saturday, February 2nd. Finally, Seaport Global Securities initiated coverage on shares of Columbus McKinnon in a research note on Wednesday, January 23rd. They issued a “buy” rating and a $42.00 price target on the stock. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.50.In other Columbus McKinnon news, VP Alan S. Korman sold 5,168 shares of the stock in a transaction on Monday, February 25th. The shares were sold at an average price of $37.90, for a total transaction of $195,867.20. Following the transaction, the vice president now directly owns 15,711 shares of the company’s stock, valued at $595,446.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.27% of the company’s stock.
Shares of NASDAQ CMCO opened at $38.03 on Tuesday. The company has a market capitalization of $879.08 million, a P/E ratio of 18.92 and a beta of 1.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.78 and a quick ratio of 1.01. Columbus McKinnon Corp. has a 52 week low of $27.66 and a 52 week high of $45.85.
Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.03. The firm had revenue of $217.42 million during the quarter, compared to analysts’ expectations of $215.05 million. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. As a group, equities analysts forecast that Columbus McKinnon Corp. will post 2.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This is a boost from Columbus McKinnon’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%. Columbus McKinnon’s dividend payout ratio is currently 9.95%.
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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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