Posted by admin on Jul 10th, 2022
Exane Derivatives decreased its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 29.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,037 shares of the industrial products company’s stock after selling 428 shares during the quarter. Exane Derivatives’ holdings in Columbus McKinnon were worth $44,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allspring Global Investments Holdings LLC acquired a new position in Columbus McKinnon in the 4th quarter worth approximately $59,725,000. GW&K Investment Management LLC increased its stake in shares of Columbus McKinnon by 125.6% in the fourth quarter. GW&K Investment Management LLC now owns 899,518 shares of the industrial products company’s stock worth $41,611,000 after acquiring an additional 500,868 shares during the period. Westwood Holdings Group Inc. raised its holdings in shares of Columbus McKinnon by 30.3% during the fourth quarter. Westwood Holdings Group Inc. now owns 725,231 shares of the industrial products company’s stock worth $33,549,000 after purchasing an additional 168,462 shares during the last quarter. Chartwell Investment Partners LLC lifted its position in Columbus McKinnon by 52.1% during the fourth quarter. Chartwell Investment Partners LLC now owns 356,219 shares of the industrial products company’s stock valued at $16,479,000 after purchasing an additional 122,018 shares during the period. Finally, Nuveen Asset Management LLC boosted its holdings in Columbus McKinnon by 38.8% in the fourth quarter. Nuveen Asset Management LLC now owns 379,608 shares of the industrial products company’s stock valued at $17,561,000 after purchasing an additional 106,080 shares during the last quarter. Hedge funds and other institutional investors own 97.70% of the company’s stock.
In other Columbus McKinnon news, insider Kurt F. Wozniak sold 10,778 shares of the firm’s stock in a transaction that occurred on Tuesday, June 7th. The shares were sold at an average price of $34.24, for a total value of $369,038.72. Following the completion of the transaction, the insider now owns 25,725 shares of the company’s stock, valued at approximately $880,824. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.18% of the stock is owned by corporate insiders.
CMCO has been the topic of a number of recent research reports. TheStreet downgraded Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Friday, April 1st. Barrington Research reduced their price objective on Columbus McKinnon from $66.00 to $57.00 and set an “outperform” rating for the company in a research note on Thursday, May 26th. Craig Hallum lowered Columbus McKinnon from a “buy” rating to a “hold” rating and decreased their price objective for the company from $60.00 to $35.00 in a report on Wednesday, May 25th. JPMorgan Chase & Co. cut Columbus McKinnon from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $64.00 to $37.00 in a report on Thursday, May 26th. Finally, DA Davidson dropped their price objective on shares of Columbus McKinnon from $50.00 to $45.00 in a report on Monday, June 27th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Columbus McKinnon presently has a consensus rating of “Hold” and a consensus target price of $43.50.
CMCO stock opened at $28.44 on Friday. The business’s fifty day moving average price is $31.99 and its 200 day moving average price is $39.61. Columbus McKinnon Co. has a 12-month low of $27.18 and a 12-month high of $54.20. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $811.96 million, a PE ratio of 28.16, a P/E/G ratio of 0.35 and a beta of 1.21.
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, hitting analysts’ consensus estimates of $0.79. Columbus McKinnon had a net margin of 3.27% and a return on equity of 10.78%. The company had revenue of $253.40 million for the quarter, compared to analyst estimates of $235.33 million. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. Research analysts predict that Columbus McKinnon Co. will post 2.99 EPS for the current fiscal year.
About Columbus McKinnon (Get Rating)
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.
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