Posted by admin on Aug 20th, 2022
Mirae Asset Global Investments Co. Ltd. grew its holdings in Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 312,027 shares of the industrial products company’s stock after buying an additional 5,259 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 1.09% of Columbus McKinnon worth $13,230,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in CMCO. Pinebridge Investments L.P. acquired a new stake in shares of Columbus McKinnon in the fourth quarter valued at approximately $56,000. Advisor Group Holdings Inc. lifted its position in shares of Columbus McKinnon by 184.5% in the fourth quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock valued at $78,000 after buying an additional 1,083 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Columbus McKinnon by 112.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,361 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 2,843 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in Columbus McKinnon by 7.9% during the 1st quarter. Teacher Retirement System of Texas now owns 5,872 shares of the industrial products company’s stock worth $249,000 after purchasing an additional 428 shares during the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in Columbus McKinnon during the 1st quarter worth approximately $261,000. 97.70% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on CMCO. Barrington Research dropped their price target on Columbus McKinnon from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Thursday, July 28th. JPMorgan Chase & Co. cut Columbus McKinnon from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $64.00 to $37.00 in a report on Thursday, May 26th. Craig Hallum cut Columbus McKinnon from a “buy” rating to a “hold” rating and dropped their price objective for the company from $60.00 to $35.00 in a report on Wednesday, May 25th. Finally, DA Davidson dropped their price objective on Columbus McKinnon from $50.00 to $45.00 in a report on Monday, June 27th. Three analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.25.
In related news, insider Kurt F. Wozniak sold 10,778 shares of the business’s stock in a transaction on Tuesday, June 7th. The stock was sold at an average price of $34.24, for a total transaction of $369,038.72. Following the sale, the insider now owns 25,725 shares in the company, valued at approximately $880,824. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.18% of the stock is currently owned by corporate insiders.
Shares of CMCO opened at $33.32 on Friday. Columbus McKinnon Co. has a 52-week low of $26.42 and a 52-week high of $54.20. The business’s fifty day moving average is $30.57 and its 200-day moving average is $36.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.16 and a current ratio of 2.02. The firm has a market cap of $953.62 million, a price-to-earnings ratio of 21.22, a PEG ratio of 0.59 and a beta of 1.24.
Columbus McKinnon (NASDAQ:CMCO – Get Rating) last issued its quarterly earnings results on Wednesday, May 25th. The industrial products company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.01. Columbus McKinnon had a return on equity of 10.76% and a net margin of 4.96%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $235.33 million. During the same quarter last year, the company posted $0.50 EPS. The company’s revenue for the quarter was up 36.1% compared to the same quarter last year. Equities analysts anticipate that Columbus McKinnon Co. will post 2.91 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 15th. Investors of record on Friday, August 5th were given a dividend of $0.07 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.28 dividend on an annualized basis and a yield of 0.84%. Columbus McKinnon’s dividend payout ratio is currently 17.83%.
Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. The company offers electric, air-powered, lever, and hand hoists; hoist trolleys, explosion-protected and custom engineered hoists, and winches; crane systems, such as crane components and kits, enclosed track rail systems, mobile and jib cranes, and fall protection systems, as well as material handling solutions; rigging equipment comprising below-the-hook lifting devices, shackles, chains and chains accessories, forestry and hand tools, lifting slings, lashing systems, and tie-downs and load binders; rotary unions and swivel joints; and mechanical and electromechanical actuators.
Receive News & Ratings for Columbus McKinnon Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon and related companies with MarketBeat.com's FREE daily email newsletter.
Mirae Asset Global Investments Co. Ltd. Lowers Holdings in Wabash National Co. (NYSE:WNC)
Meeder Asset Management Inc. Takes Position in ACI Worldwide, Inc. (NASDAQ:ACIW)