Forest Hill Capital LLC decreased its position in Columbus McKinnon Corp. (NASDAQ:CMCO) by 27.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 105,965 shares of the industrial products company’s stock after selling 41,000 shares during the period. Forest Hill Capital LLC owned about 0.46% of Columbus McKinnon worth $4,236,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Columbus McKinnon by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 820,712 shares of the industrial products company’s stock worth $20,863,000 after purchasing an additional 41,410 shares in the last quarter. Voya Investment Management LLC raised its stake in shares of Columbus McKinnon by 10.8% during the 2nd quarter. Voya Investment Management LLC now owns 12,389 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 1,208 shares in the last quarter. State Street Corp raised its stake in shares of Columbus McKinnon by 6.0% during the 2nd quarter. State Street Corp now owns 364,841 shares of the industrial products company’s stock worth $9,277,000 after purchasing an additional 20,506 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Columbus McKinnon by 2.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,336 shares of the industrial products company’s stock worth $415,000 after purchasing an additional 414 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Columbus McKinnon by 14.8% during the 3rd quarter. American Century Companies Inc. now owns 26,567 shares of the industrial products company’s stock worth $1,006,000 after purchasing an additional 3,426 shares in the last quarter. Hedge funds and other institutional investors own 86.17% of the company’s stock.
Columbus McKinnon Corp. (CMCO) opened at $36.75 on Wednesday. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.81. The firm has a market capitalization of $855.02, a P/E ratio of 99.32 and a beta of 1.85. Columbus McKinnon Corp. has a 1-year low of $23.13 and a 1-year high of $44.55.
Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.13. The business had revenue of $208.73 million for the quarter, compared to analyst estimates of $201.08 million. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The firm’s revenue was up 36.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.25 EPS. analysts anticipate that Columbus McKinnon Corp. will post 2 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Investors of record on Friday, February 9th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date was Thursday, February 8th. Columbus McKinnon’s payout ratio is presently 43.24%.
A number of equities research analysts have recently issued reports on the company. Seaport Global Securities reiterated a “buy” rating and set a $50.00 price objective on shares of Columbus McKinnon in a research note on Wednesday, January 10th. Roth Capital upped their price objective on Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 15th. BidaskClub cut Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, January 19th. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Finally, Zacks Investment Research cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. Columbus McKinnon currently has an average rating of “Buy” and a consensus price target of $47.33.
In related news, VP Alan S. Korman sold 1,724 shares of the business’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $36.00, for a total transaction of $62,064.00. Following the transaction, the vice president now directly owns 16,593 shares of the company’s stock, valued at approximately $597,348. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.91% of the stock is currently owned by insiders.
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Columbus McKinnon Profile
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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