Posted by admin on Jul 22nd, 2022

Keybank National Association OH lessened its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 40.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,825 shares of the industrial products company’s stock after selling 5,265 shares during the quarter. Keybank National Association OH’s holdings in Columbus McKinnon were worth $332,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CMCO. Chartwell Investment Partners LLC raised its holdings in shares of Columbus McKinnon by 2.4% in the first quarter. Chartwell Investment Partners LLC now owns 364,942 shares of the industrial products company’s stock valued at $15,474,000 after buying an additional 8,723 shares during the last quarter. Truist Financial Corp grew its position in shares of Columbus McKinnon by 29.6% in the first quarter. Truist Financial Corp now owns 77,716 shares of the industrial products company’s stock valued at $3,295,000 after purchasing an additional 17,768 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake 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 valued at $33,549,000 after buying an additional 168,462 shares during the period. Orchard Capital Managment LLC lifted its stake in shares of Columbus McKinnon by 1.9% during the fourth quarter. Orchard Capital Managment LLC now owns 130,225 shares of the industrial products company’s stock valued at $6,024,000 after buying an additional 2,400 shares during the period. Finally, Meros Investment Management LP purchased a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $3,739,000. Institutional investors and hedge funds own 97.70% of the company’s stock.

In other news, insider Kurt F. Wozniak sold 10,778 shares of Columbus McKinnon 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 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 the SEC website. Corporate insiders own 2.18% of the company’s stock.

A number of equities analysts have weighed in on CMCO shares. TheStreet downgraded shares of Columbus McKinnon from a “b” rating to a “c+” rating in a research note on Friday, April 1st. JPMorgan Chase & Co. lowered shares of Columbus McKinnon from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $37.00 in a report on Thursday, May 26th. Barrington Research decreased their price objective on shares of Columbus McKinnon from $66.00 to $57.00 and set an “outperform” rating for the company in a report on Thursday, May 26th. StockNews.com started coverage on shares of Columbus McKinnon in a report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, DA Davidson cut their price objective on shares of Columbus McKinnon from $50.00 to $45.00 in a research report on Monday, June 27th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Columbus McKinnon presently has an average rating of “Hold” and an average price target of $43.50.

CMCO stock opened at $31.12 on Friday. Columbus McKinnon Co. has a 52 week low of $26.42 and a 52 week high of $54.20. The company has a market capitalization of $888.48 million, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 0.37 and a beta of 1.21. The firm’s 50-day moving average is $30.92 and its two-hundred day moving average is $38.60. The company has a current ratio of 1.87, a quick ratio of 1.18 and a debt-to-equity ratio of 0.61.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last released its quarterly earnings results on Wednesday, May 25th. The industrial products company reported $0.79 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.01. The company had revenue of $253.40 million for the quarter, compared to the consensus estimate of $235.33 million. Columbus McKinnon had a net margin of 3.27% and a return on equity of 10.78%. Columbus McKinnon’s revenue was up 36.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.50 EPS. On average, analysts forecast that Columbus McKinnon Co. will post 2.99 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, August 5th will be paid a $0.07 dividend. The ex-dividend date is Thursday, August 4th. This represents a $0.28 annualized dividend and a dividend yield of 0.90%. Columbus McKinnon’s dividend payout ratio is currently 27.72%.

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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