Posted by admin on Aug 14th, 2022
Envestnet Asset Management Inc. grew its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 45.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 90,065 shares of the industrial products company’s stock after buying an additional 28,069 shares during the period. Envestnet Asset Management Inc. owned approximately 0.32% of Columbus McKinnon worth $3,819,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Pinebridge Investments L.P. bought a new position in Columbus McKinnon during the 4th quarter worth $56,000. Advisor Group Holdings Inc. grew its holdings in shares of Columbus McKinnon by 184.5% during the 4th quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock worth $78,000 after purchasing an additional 1,083 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Columbus McKinnon by 112.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,361 shares of the industrial products company’s stock worth $248,000 after purchasing an additional 2,843 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Columbus McKinnon by 21.5% during the 4th quarter. Teacher Retirement System of Texas now owns 5,444 shares of the industrial products company’s stock worth $252,000 after purchasing an additional 962 shares in the last quarter. Finally, Park Avenue Securities LLC acquired a new stake in shares of Columbus McKinnon during the 1st quarter worth $261,000. Institutional investors 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 dated Tuesday, June 7th. The stock was sold at an average price of $34.24, for a total transaction of $369,038.72. Following the sale, the insider now directly owns 25,725 shares of the company’s stock, valued at $880,824. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.18% of the company’s stock.
Several analysts have recently issued reports on CMCO shares. Barrington Research reduced their target price on Columbus McKinnon from $50.00 to $48.00 and set an “outperform” rating on the stock in a report on Thursday, July 28th. Craig Hallum lowered Columbus McKinnon from a “buy” rating to a “hold” rating and reduced their target price for the stock from $60.00 to $35.00 in a report on Wednesday, May 25th. JPMorgan Chase & Co. lowered Columbus McKinnon from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $64.00 to $37.00 in a report on Thursday, May 26th. Finally, DA Davidson reduced their target price on Columbus McKinnon from $50.00 to $45.00 in a report on Monday, June 27th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.25.
NASDAQ:CMCO opened at $34.06 on Friday. The stock’s 50-day simple moving average is $30.55 and its 200 day simple moving average is $36.78. The firm has a market capitalization of $974.80 million, a PE ratio of 21.69, a price-to-earnings-growth ratio of 0.57 and a beta of 1.24. The company has a quick ratio of 1.16, a current ratio of 2.02 and a debt-to-equity ratio of 0.59. Columbus McKinnon Co. has a twelve month low of $26.42 and a twelve month high of $54.20.
Columbus McKinnon (NASDAQ:CMCO – Get Rating) last released its quarterly earnings data on Wednesday, May 25th. The industrial products company reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.01. The business had revenue of $253.40 million for the quarter, compared to analyst estimates of $235.33 million. Columbus McKinnon had a return on equity of 10.76% and a net margin of 4.96%. Columbus McKinnon’s revenue was up 36.1% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. On average, analysts anticipate that Columbus McKinnon Co. will post 2.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 15th. Stockholders of record on Friday, August 5th will be paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date of this dividend is Thursday, August 4th. Columbus McKinnon’s payout ratio is 17.83%.
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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