American International Group Inc. grew its position in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,840 shares of the industrial products company’s stock after acquiring an additional 1,836 shares during the period. American International Group Inc. owned about 0.06% of Columbus McKinnon worth $593,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of CMCO. Macquarie Group Ltd. raised its stake in Columbus McKinnon by 14.6% in the third quarter. Macquarie Group Ltd. now owns 974,628 shares of the industrial products company’s stock worth $36,909,000 after buying an additional 124,442 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Columbus McKinnon by 5.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,445,148 shares of the industrial products company’s stock worth $54,728,000 after buying an additional 71,980 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Columbus McKinnon by 29.3% in the third quarter. JPMorgan Chase & Co. now owns 224,919 shares of the industrial products company’s stock worth $8,448,000 after buying an additional 50,970 shares in the last quarter. EAM Investors LLC raised its stake in Columbus McKinnon by 42.6% in the third quarter. EAM Investors LLC now owns 139,730 shares of the industrial products company’s stock worth $5,292,000 after buying an additional 41,775 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in Columbus McKinnon by 5.3% in the second quarter. Vanguard Group Inc. now owns 820,712 shares of the industrial products company’s stock worth $20,863,000 after buying an additional 41,410 shares in the last quarter. 86.03% of the stock is owned by hedge funds and other institutional investors.
In other Columbus McKinnon news, VP Alan S. Korman sold 1,724 shares of the company’s stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $36.00, for a total value of $62,064.00. Following the sale, the vice president now owns 16,593 shares in the company, valued at $597,348. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.91% of the stock is currently owned by corporate insiders.
CMCO traded down $0.97 during midday trading on Monday, reaching $34.87. The company’s stock had a trading volume of 100,180 shares, compared to its average volume of 172,616. The stock has a market cap of $825.09, a PE ratio of 27.15 and a beta of 1.84. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.06 and a current ratio of 1.81. Columbus McKinnon Corp. has a 1 year low of $23.19 and a 1 year high of $44.55.
Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.13. The business had revenue of $208.73 million for the quarter, compared to analysts’ expectations of $201.08 million. Columbus McKinnon had a net margin of 1.10% and a return on equity of 11.87%. The business’s revenue was up 36.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.25 earnings per share. equities research analysts predict that Columbus McKinnon Corp. will post 2 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 14th. Shareholders of record on Friday, May 4th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, May 3rd. This is a boost from Columbus McKinnon’s previous quarterly dividend of $0.04. Columbus McKinnon’s dividend payout ratio is 12.12%.
CMCO has been the subject of a number of research reports. BidaskClub raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Friday, December 22nd. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, January 2nd. Seaport Global Securities reissued a “buy” rating and issued a $50.00 price target on shares of Columbus McKinnon in a research note on Wednesday, January 10th. Finally, Roth Capital increased their price target on shares of Columbus McKinnon from $41.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, January 15th. One analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $47.33.
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Columbus McKinnon Company 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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