Bridgeway Capital Management Inc. trimmed its position in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 74.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 18,800 shares of the industrial products company’s stock after selling 55,400 shares during the period. Bridgeway Capital Management Inc.’s holdings in Columbus McKinnon were worth $743,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in CMCO. Eqis Capital Management Inc. bought a new stake in Columbus McKinnon in the 2nd quarter valued at $204,000. Dynamic Technology Lab Private Ltd bought a new stake in Columbus McKinnon in the 2nd quarter valued at $225,000. United Services Automobile Association bought a new stake in Columbus McKinnon in the 2nd quarter valued at $280,000. Campbell & CO Investment Adviser LLC bought a new stake in Columbus McKinnon in the 3rd quarter valued at $332,000. Finally, Global X Management Co LLC increased its holdings in Columbus McKinnon by 19.0% in the 2nd quarter. Global X Management Co LLC now owns 8,092 shares of the industrial products company’s stock valued at $351,000 after acquiring an additional 1,292 shares during the last quarter. Hedge funds and other institutional investors own 97.73% of the company’s stock.
Columbus McKinnon stock opened at $31.50 on Friday. Columbus McKinnon Corp. has a twelve month low of $29.70 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.05 and a current ratio of 1.85. The stock has a market capitalization of $735.40 million, a PE ratio of 13.18 and a beta of 1.73.
Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Columbus McKinnon had a net margin of 2.49% and a return on equity of 13.88%. The firm had revenue of $217.14 million for the quarter, compared to the consensus estimate of $218.91 million. During the same period in the previous year, the firm posted $0.51 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Columbus McKinnon Corp. will post 2.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 19th. Stockholders of record on Friday, November 9th were issued a $0.05 dividend. The ex-dividend date was Thursday, November 8th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.63%. Columbus McKinnon’s dividend payout ratio (DPR) is presently 9.95%.
A number of brokerages have issued reports on CMCO. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Tuesday, October 30th. BidaskClub downgraded shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a report on Saturday. ValuEngine downgraded shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a report on Tuesday, November 27th. Finally, Craig Hallum set a $54.00 price target on shares of Columbus McKinnon and gave the company a “buy” rating in a report on Tuesday, October 30th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company. Columbus McKinnon presently has an average rating of “Hold” and an average target price of $47.00.
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Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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