Skylands Capital LLC lifted its stake in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 24.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,300 shares of the industrial products company’s stock after acquiring an additional 43,800 shares during the quarter. Columbus McKinnon makes up 1.1% of Skylands Capital LLC’s holdings, making the stock its 22nd biggest holding. Skylands Capital LLC owned about 0.97% of Columbus McKinnon worth $7,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also modified their holdings of the business. Quantamental Technologies LLC purchased a new stake in shares of Columbus McKinnon in the first quarter valued at about $56,000. Acadian Asset Management LLC boosted its holdings in shares of Columbus McKinnon by 219.6% in the fourth quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,298 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Columbus McKinnon by 14.5% in the fourth quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock valued at $129,000 after purchasing an additional 541 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Columbus McKinnon by 1,596.7% in the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,375 shares during the period. Finally, LPL Financial LLC acquired a new stake in shares of Columbus McKinnon in the third quarter valued at about $222,000. Institutional investors and hedge funds own 96.56% of the company’s stock.
CMCO has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a report on Monday, January 28th. Seaport Global Securities initiated coverage on shares of Columbus McKinnon in a research report on Wednesday, January 23rd. They set a “buy” rating and a $42.00 target price on the stock. BidaskClub raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th. 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, ValuEngine raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $44.50.
Shares of Columbus McKinnon stock traded down $0.69 during trading on Tuesday, hitting $38.21. 638 shares of the stock were exchanged, compared to its average volume of 81,887. The firm has a market capitalization of $924.39 million, a P/E ratio of 19.29 and a beta of 1.80. 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 Corp. has a 12 month low of $27.66 and a 12 month high of $45.85.
The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Thursday, May 2nd. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.05. Columbus McKinnon’s dividend payout ratio is currently 11.94%.
In related news, VP Alan S. Korman sold 5,168 shares of the stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $37.90, for a total value of $195,867.20. Following the completion of the transaction, the vice president now owns 15,711 shares in the company, valued at approximately $595,446.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.27% of the company’s stock.
About Columbus McKinnon
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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