California State Teachers Retirement System lowered its stake in Columbus McKinnon Corp. (NASDAQ:CMCO) by 5.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,720 shares of the company’s stock after selling 2,147 shares during the period. California State Teachers Retirement System owned about 0.20% of Columbus McKinnon Corp. worth $576,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in CMCO. Skyline Asset Management LP boosted its stake in shares of Columbus McKinnon Corp. by 41.0% in the first quarter. Skyline Asset Management LP now owns 570,650 shares of the company’s stock valued at $8,993,000 after buying an additional 166,000 shares in the last quarter. Price Michael F boosted its stake in shares of Columbus McKinnon Corp. by 98.2% in the first quarter. Price Michael F now owns 155,000 shares of the company’s stock valued at $2,443,000 after buying an additional 76,810 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Columbus McKinnon Corp. by 2.3% in the first quarter. Royal Bank of Canada now owns 2,628,577 shares of the company’s stock valued at $41,426,000 after buying an additional 59,860 shares in the last quarter. Bank of Montreal Can purchased a new stake in shares of Columbus McKinnon Corp. during the second quarter valued at $553,000. Finally, Prudential Financial Inc. purchased a new stake in shares of Columbus McKinnon Corp. during the first quarter valued at $579,000. 82.47% of the stock is owned by hedge funds and other institutional investors.
Columbus McKinnon Corp. (NASDAQ:CMCO) traded down 1.99% during trading on Friday, hitting $17.71. The stock had a trading volume of 6,220 shares. Columbus McKinnon Corp. has a 52 week low of $12.62 and a 52 week high of $21.63. The company has a 50-day moving average of $17.56 and a 200 day moving average of $16.10. The company has a market cap of $357.65 million, a price-to-earnings ratio of 18.84 and a beta of 2.05.
Columbus McKinnon Corp. (NASDAQ:CMCO) last released its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.03. The company had revenue of $149 million for the quarter, compared to analyst estimates of $148.52 million. Columbus McKinnon Corp. had a return on equity of 10.20% and a net margin of 3.13%. Columbus McKinnon Corp.’s quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.34 EPS. On average, equities research analysts anticipate that Columbus McKinnon Corp. will post $1.42 EPS for the current year.
Separately, Zacks Investment Research cut Columbus McKinnon Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 23rd.
In other news, VP Alan S. Korman sold 2,000 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $17.91, for a total transaction of $35,820.00. Following the sale, the vice president now directly owns 16,142 shares of the company’s stock, valued at approximately $289,103.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.78% of the company’s stock.
About Columbus McKinnon Corp.
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, rigging tools, cranes, actuators and other material handling products serving a range of commercial and industrial end user markets. The Company’s products include a range of electric, air-powered, lever and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters, and tire shredders.
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