Posted by admin on Jul 17th, 2022

Truist Financial Corp lifted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 29.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,716 shares of the industrial products company’s stock after purchasing an additional 17,768 shares during the period. Truist Financial Corp owned approximately 0.27% of Columbus McKinnon worth $3,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CMCO. Pinebridge Investments L.P. acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth $56,000. Advisor Group Holdings Inc. grew its holdings in shares of Columbus McKinnon by 184.5% during the fourth quarter. Advisor Group Holdings Inc. now owns 1,670 shares of the industrial products company’s stock valued at $78,000 after buying 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 fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,361 shares of the industrial products company’s stock valued at $248,000 after buying 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 fourth quarter. Teacher Retirement System of Texas now owns 5,444 shares of the industrial products company’s stock valued at $252,000 after buying an additional 962 shares in the last quarter. Finally, ProShare Advisors LLC purchased a new position in shares of Columbus McKinnon during the fourth quarter valued at $281,000. 97.70% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded Columbus McKinnon from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $64.00 to $37.00 in a report on Thursday, May 26th. Barrington Research lowered their price target on Columbus McKinnon from $66.00 to $57.00 and set an “outperform” rating on the stock in a report on Thursday, May 26th. StockNews.com assumed coverage on Columbus McKinnon in a report on Thursday, March 31st. They set a “hold” rating on the stock. TheStreet downgraded Columbus McKinnon from a “b” rating to a “c+” rating in a report on Friday, April 1st. Finally, DA Davidson lowered their price target 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 two have assigned a buy rating to the company. According to MarketBeat, Columbus McKinnon presently has an average rating of “Hold” and an average price target of $43.50.

In other news, insider Kurt F. Wozniak sold 10,778 shares of the company’s 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 completion of the sale, the insider now owns 25,725 shares in the company, valued at approximately $880,824. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 2.18% of the stock is currently owned by corporate insiders.

Shares of NASDAQ CMCO opened at $28.73 on Friday. The business’s 50-day moving average price is $31.20 and its two-hundred day moving average price is $38.99. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.87 and a quick ratio of 1.18. Columbus McKinnon Co. has a one year low of $26.42 and a one year high of $54.20. The company has a market capitalization of $820.24 million, a P/E ratio of 28.45, a price-to-earnings-growth ratio of 0.34 and a beta of 1.21.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last issued its earnings results on Wednesday, May 25th. The industrial products company reported $0.79 EPS for the quarter, meeting analysts’ consensus estimates of $0.79. Columbus McKinnon had a return on equity of 10.78% and a net margin of 3.27%. The firm had revenue of $253.40 million for the quarter, compared to the consensus estimate of $235.33 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 36.1% compared to the same quarter last year. Analysts anticipate that Columbus McKinnon Co. will post 2.99 earnings per share for the current fiscal year.

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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