Columbus McKinnon Co. (NASDAQ:CMCO) Shares Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC raised its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,530 shares of the industrial products company’s stock after buying an additional 2,074 shares during the period. Wedge Capital Management L L P NC owned about 0.10% of Columbus McKinnon worth $1,074,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ellsworth Advisors LLC acquired a new stake in shares of Columbus McKinnon during the third quarter worth about $3,423,000. Assenagon Asset Management S.A. acquired a new stake in shares of Columbus McKinnon during the third quarter worth about $2,984,000. Envestnet Asset Management Inc. increased its position in shares of Columbus McKinnon by 45.4% during the third quarter. Envestnet Asset Management Inc. now owns 144,463 shares of the industrial products company’s stock worth $5,043,000 after purchasing an additional 45,075 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Columbus McKinnon by 9.2% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 428,941 shares of the industrial products company’s stock worth $14,974,000 after purchasing an additional 35,998 shares in the last quarter. Finally, Meros Investment Management LP increased its position in shares of Columbus McKinnon by 16.2% during the third quarter. Meros Investment Management LP now owns 206,308 shares of the industrial products company’s stock worth $7,202,000 after purchasing an additional 28,719 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $41.21 on Friday. The stock’s 50-day moving average price is $42.18 and its 200 day moving average price is $38.43. The stock has a market capitalization of $1.18 billion, a PE ratio of 24.38 and a beta of 1.29. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 0.57. Columbus McKinnon Co. has a 52-week low of $30.29 and a 52-week high of $44.97.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.69 by $0.05. The business had revenue of $254.14 million for the quarter, compared to analyst estimates of $254.00 million. Columbus McKinnon had a return on equity of 9.88% and a net margin of 4.86%. During the same quarter in the previous year, the company earned $0.72 EPS. As a group, equities research analysts forecast that Columbus McKinnon Co. will post 2.95 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, May 2nd. Columbus McKinnon’s dividend payout ratio (DPR) is 16.57%.

Analysts Set New Price Targets

A number of analysts have recently commented on CMCO shares. DA Davidson lifted their target price on Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, January 2nd. Finally, StockNews.com cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th.

Insider Transactions at Columbus McKinnon

In related news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total transaction of $392,063.84. Following the completion of the transaction, the chief financial officer now directly owns 79,012 shares in the company, valued at approximately $3,274,257.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total transaction of $392,063.84. Following the completion of the transaction, the chief financial officer now directly owns 79,012 shares in the company, valued at approximately $3,274,257.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lara Mario Y. Ramos sold 9,071 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the transaction, the senior vice president now owns 12,266 shares of the company’s stock, valued at $472,241. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.