Foundry Partners LLC decreased its holdings in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 2.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,953 shares of the industrial products company’s stock after selling 3,895 shares during the quarter. Foundry Partners LLC’s holdings in Columbus McKinnon were worth $5,099,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Eqis Capital Management Inc. acquired a new stake in shares of Columbus McKinnon during the 2nd quarter worth approximately $204,000. WealthTrust Axiom LLC bought a new position in Columbus McKinnon during the 2nd quarter worth approximately $216,000. Dynamic Technology Lab Private Ltd bought a new position in Columbus McKinnon during the 2nd quarter worth approximately $225,000. United Services Automobile Association bought a new position in Columbus McKinnon during the 2nd quarter worth approximately $280,000. Finally, A.R.T. Advisors LLC bought a new position in Columbus McKinnon during the 1st quarter worth approximately $284,000. Institutional investors own 94.34% of the company’s stock.
Several research firms recently weighed in on CMCO. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Finally, Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Thursday, August 2nd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $48.75.
Columbus McKinnon stock opened at $35.05 on Friday. Columbus McKinnon Corp. has a fifty-two week low of $34.19 and a fifty-two week high of $45.85. The company has a market cap of $814.06 million, a P/E ratio of 15.90 and a beta of 1.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.04 and a current ratio of 1.84.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.14. Columbus McKinnon had a net margin of 2.10% and a return on equity of 13.04%. The business had revenue of $224.99 million for the quarter, compared to analyst estimates of $219.22 million. During the same quarter last year, the firm earned $0.55 EPS. Columbus McKinnon’s quarterly revenue was up 10.4% compared to the same quarter last year. Analysts expect that Columbus McKinnon Corp. will post 2.48 EPS for the current fiscal year.
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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