Isthmus Partners LLC grew its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 1.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 35,537 shares of the industrial products company’s stock after purchasing an additional 648 shares during the period. Isthmus Partners LLC owned about 0.13% of Columbus McKinnon worth $1,714,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in Columbus McKinnon by 27.0% in the second quarter. Principal Financial Group Inc. now owns 371,300 shares of the industrial products company’s stock worth $17,912,000 after purchasing an additional 79,050 shares during the period. Providence Capital Advisors LLC purchased a new position in shares of Columbus McKinnon during the second quarter valued at $3,012,000. Ameritas Investment Partners Inc. increased its stake in shares of Columbus McKinnon by 12.4% during the second quarter. Ameritas Investment Partners Inc. now owns 2,183 shares of the industrial products company’s stock valued at $105,000 after buying an additional 240 shares during the period. Sei Investments Co. increased its stake in shares of Columbus McKinnon by 0.3% during the second quarter. Sei Investments Co. now owns 90,549 shares of the industrial products company’s stock valued at $4,368,000 after buying an additional 292 shares during the period. Finally, Swiss National Bank increased its stake in shares of Columbus McKinnon by 11.9% during the second quarter. Swiss National Bank now owns 61,111 shares of the industrial products company’s stock valued at $2,948,000 after buying an additional 6,500 shares during the period. Institutional investors and hedge funds own 96.83% of the company’s stock.
CMCO stock traded up $0.11 during trading on Wednesday, reaching $43.24. 127 shares of the company traded hands, compared to its average volume of 135,745. Columbus McKinnon Co. has a 12 month low of $31.63 and a 12 month high of $57.06. The business has a 50 day simple moving average of $45.04 and a 200 day simple moving average of $49.16. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of 196.05, a price-to-earnings-growth ratio of 0.78 and a beta of 1.28. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.99 and a current ratio of 1.56.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 16th. Shareholders of record on Friday, August 6th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.56%. The ex-dividend date was Thursday, August 5th. Columbus McKinnon’s dividend payout ratio is presently 20.69%.
In other Columbus McKinnon news, VP Peter M. Mccormick sold 32,168 shares of the firm’s stock in a transaction dated Friday, July 30th. The stock was sold at an average price of $46.63, for a total value of $1,499,993.84. Following the completion of the sale, the vice president now owns 49,237 shares of the company’s stock, valued at $2,295,921.31. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.14% of the stock is currently owned by company insiders.
Several brokerages have recently commented on CMCO. TheStreet lowered Columbus McKinnon from a “b-” rating to a “c+” rating in a research note on Monday, August 9th. Barrington Research raised their price target on Columbus McKinnon from $67.00 to $78.00 and gave the company an “outperform” rating in a research note on Wednesday, May 26th. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, July 28th. Finally, Colliers Securities reaffirmed a “buy” rating on shares of Columbus McKinnon in a research report on Friday, July 30th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $59.67.
Columbus McKinnon Company Profile
Columbus McKinnon Corp. engages in the designing, manufacturing, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.
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