Strs Ohio reduced its holdings in Columbus McKinnon Corp. (NASDAQ:CMCO) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,500 shares of the industrial products company’s stock after selling 1,500 shares during the quarter. Strs Ohio owned approximately 0.09% of Columbus McKinnon worth $810,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of Columbus McKinnon by 3.9% in the 2nd quarter. BlackRock Inc. now owns 1,530,023 shares of the industrial products company’s stock worth $66,342,000 after acquiring an additional 57,952 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Columbus McKinnon by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,517,706 shares of the industrial products company’s stock worth $65,807,000 after acquiring an additional 40,616 shares in the last quarter. Macquarie Group Ltd. boosted its holdings in shares of Columbus McKinnon by 12.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,122,665 shares of the industrial products company’s stock worth $48,679,000 after acquiring an additional 122,110 shares in the last quarter. Cortina Asset Management LLC boosted its holdings in shares of Columbus McKinnon by 33.9% in the 2nd quarter. Cortina Asset Management LLC now owns 620,728 shares of the industrial products company’s stock worth $26,915,000 after acquiring an additional 157,129 shares in the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Northern Trust Corp now owns 534,090 shares of the industrial products company’s stock worth $23,157,000 after acquiring an additional 10,476 shares in the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:CMCO opened at $37.62 on Tuesday. Columbus McKinnon Corp. has a 52-week low of $29.70 and a 52-week high of $45.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.85. The firm has a market cap of $877.57 million, a price-to-earnings ratio of 15.73 and a beta of 1.75.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.08. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The firm had revenue of $217.14 million for the quarter, compared to the consensus estimate of $218.91 million. During the same quarter in the prior year, the business earned $0.51 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts expect that Columbus McKinnon Corp. will post 2.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 19th. Shareholders of record on Friday, November 9th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date is Thursday, November 8th. Columbus McKinnon’s dividend payout ratio is 9.95%.
Several research analysts have issued reports on CMCO shares. ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. BidaskClub downgraded Columbus McKinnon from a “hold” rating to a “sell” rating in a report on Saturday, July 14th. Craig Hallum set a $54.00 price objective on Columbus McKinnon and gave the stock a “buy” rating in a report on Tuesday, October 30th. Finally, Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.00.
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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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