Dynamic Technology Lab Private Ltd bought a new stake in Columbus McKinnon Corp. (NASDAQ:CMCO) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,951 shares of the industrial products company’s stock, valued at approximately $376,000.
Other hedge funds have also bought and sold shares of the company. BlackRock Inc. grew its holdings in shares of Columbus McKinnon by 1.0% in the fourth quarter. BlackRock Inc. now owns 1,568,705 shares of the industrial products company’s stock valued at $47,281,000 after purchasing an additional 15,668 shares in the last quarter. Acadian Asset Management LLC grew 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 purchasing an additional 1,298 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Columbus McKinnon by 78.9% in the fourth quarter. Millennium Management LLC now owns 123,494 shares of the industrial products company’s stock valued at $3,722,000 after purchasing an additional 54,447 shares in the last quarter. Victory Capital Management Inc. grew its holdings in shares of Columbus McKinnon by 1.1% in the fourth quarter. Victory Capital Management Inc. now owns 44,045 shares of the industrial products company’s stock valued at $1,328,000 after purchasing an additional 460 shares in the last quarter. Finally, Ceredex Value Advisors LLC purchased a new position in shares of Columbus McKinnon in the fourth quarter valued at $3,017,000. 99.62% of the stock is owned by hedge funds and other institutional investors.
A number of research analysts recently weighed in on the stock. BidaskClub lowered shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a report on Tuesday, May 14th. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, Zacks Investment Research upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $44.50.
In related news, CFO Gregory P. Rustowicz sold 11,942 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $38.92, for a total value of $464,782.64. Following the completion of the sale, the chief financial officer now directly owns 63,100 shares in the company, valued at $2,455,852. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Peter M. Mccormick sold 11,415 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $38.75, for a total value of $442,331.25. Following the completion of the sale, the vice president now owns 67,050 shares of the company’s stock, valued at $2,598,187.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,847 shares of company stock valued at $1,417,153. 2.27% of the stock is owned by corporate insiders.
Shares of CMCO opened at $38.70 on Friday. The firm has a market capitalization of $915.04 million, a P/E ratio of 14.25 and a beta of 1.75. Columbus McKinnon Corp. has a 52-week low of $27.66 and a 52-week high of $45.85. The company has a quick ratio of 1.02, a current ratio of 1.72 and a debt-to-equity ratio of 0.55.
Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.11. The company had revenue of $216.70 million during the quarter, compared to the consensus estimate of $210.59 million. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. Columbus McKinnon’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the company earned $0.51 earnings per share. On average, sell-side analysts anticipate that Columbus McKinnon Corp. will post 3 earnings per share for the current fiscal year.
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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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