Skyline Asset Management LP lessened its holdings in shares of Columbus McKinnon (NASDAQ:CMCO) by 5.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 572,550 shares of the industrial products company’s stock after selling 30,100 shares during the quarter. Columbus McKinnon comprises about 1.7% of Skyline Asset Management LP’s holdings, making the stock its 23rd biggest holding. Skyline Asset Management LP owned about 2.49% of Columbus McKinnon worth $20,520,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. US Bancorp DE raised its holdings in Columbus McKinnon by 6.0% in the fourth quarter. US Bancorp DE now owns 26,481 shares of the industrial products company’s stock valued at $1,058,000 after acquiring an additional 1,493 shares in the last quarter. Swiss National Bank raised its holdings in Columbus McKinnon by 4.7% in the first quarter. Swiss National Bank now owns 35,611 shares of the industrial products company’s stock valued at $1,276,000 after acquiring an additional 1,600 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Columbus McKinnon by 1.7% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 106,726 shares of the industrial products company’s stock valued at $4,267,000 after acquiring an additional 1,768 shares in the last quarter. American International Group Inc. raised its holdings in Columbus McKinnon by 14.1% in the fourth quarter. American International Group Inc. now owns 14,840 shares of the industrial products company’s stock valued at $593,000 after acquiring an additional 1,836 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Columbus McKinnon by 5.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 41,407 shares of the industrial products company’s stock valued at $1,656,000 after acquiring an additional 2,073 shares in the last quarter. 92.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of Columbus McKinnon stock opened at $43.10 on Monday. The company has a market capitalization of $992.19 million, a price-to-earnings ratio of 21.44 and a beta of 1.87. Columbus McKinnon has a 52 week low of $24.14 and a 52 week high of $44.55. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.74.
Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, May 30th. The industrial products company reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.02. The company had revenue of $214.10 million for the quarter, compared to analyst estimates of $210.64 million. Columbus McKinnon had a net margin of 2.63% and a return on equity of 12.14%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. analysts anticipate that Columbus McKinnon will post 2.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Friday, May 4th were paid a $0.05 dividend. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.04. This represents a $0.20 annualized dividend and a yield of 0.46%. The ex-dividend date was Thursday, May 3rd. Columbus McKinnon’s dividend payout ratio is currently 9.95%.
Several analysts recently weighed in on the stock. Zacks Investment Research cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Thursday, February 22nd. TheStreet raised shares of Columbus McKinnon from a “c+” rating to a “b” rating in a report on Wednesday, May 30th. BidaskClub upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Saturday, May 19th. Finally, Craig Hallum started coverage on shares of Columbus McKinnon in a research note on Monday, May 14th. They issued a “buy” rating and a $49.00 price target on the stock. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $48.75.
In other news, VP Alan S. Korman sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $37.39, for a total transaction of $74,780.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gregory P. Rustowicz sold 3,271 shares of the firm’s stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $42.13, for a total transaction of $137,807.23. Following the transaction, the vice president now owns 45,366 shares in the company, valued at $1,911,269.58. The disclosure for this sale can be found here. Corporate insiders own 3.91% of the company’s stock.
Columbus McKinnon 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 end-user markets worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists, as well as supplies hoist trolleys; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists.
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