Bailard Inc. bought a new position in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,300 shares of the industrial products company’s stock, valued at approximately $447,000.
Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Columbus McKinnon by 1.5% during the third quarter. BlackRock Inc. now owns 1,553,037 shares of the industrial products company’s stock worth $61,407,000 after acquiring an additional 23,014 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Columbus McKinnon by 2.7% during the second 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 during the last quarter. Macquarie Group Ltd. raised its position in shares of Columbus McKinnon by 12.2% during the second 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 during the last quarter. Cortina Asset Management LLC raised its position in shares of Columbus McKinnon by 33.9% during the second 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 during the last quarter. Finally, Northern Trust Corp raised its position in shares of Columbus McKinnon by 2.0% during the second 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 during the last quarter. Institutional investors own 97.73% of the company’s stock.
A number of equities research analysts have recently weighed in on CMCO shares. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research report on Tuesday, October 30th. Craig Hallum set a $54.00 target price on Columbus McKinnon and gave the stock a “buy” rating in a research report on Tuesday, October 30th. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Tuesday, September 4th. Finally, BidaskClub upgraded Columbus McKinnon from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $47.00.
NASDAQ CMCO opened at $31.50 on Monday. The stock has a market capitalization of $735.40 million, a P/E ratio of 15.67 and a beta of 1.73. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 0.66. Columbus McKinnon Corp. has a 12 month low of $29.70 and a 12 month high of $45.85.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.08. The business had revenue of $217.14 million during the quarter, compared to the consensus estimate of $218.91 million. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.51 earnings per share. On average, equities research analysts predict that Columbus McKinnon Corp. will post 2.64 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Investors of record on Friday, November 9th were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. Columbus McKinnon’s dividend payout ratio is presently 9.95%.
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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 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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