Legato Capital Management LLC Sells 46,177 Shares of Columbus McKinnon Corporation $CMCO

Legato Capital Management LLC lowered its position in Columbus McKinnon Corporation (NASDAQ:CMCO) by 68.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,391 shares of the industrial products company’s stock after selling 46,177 shares during the period. Legato Capital Management LLC owned 0.07% of Columbus McKinnon worth $307,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Access Investment Management LLC grew its position in Columbus McKinnon by 0.9% in the third quarter. Access Investment Management LLC now owns 82,950 shares of the industrial products company’s stock worth $1,190,000 after acquiring an additional 735 shares in the last quarter. Bridge City Capital LLC lifted its stake in shares of Columbus McKinnon by 0.8% in the 2nd quarter. Bridge City Capital LLC now owns 97,866 shares of the industrial products company’s stock valued at $1,494,000 after purchasing an additional 784 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Columbus McKinnon by 8.5% in the second quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 852 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Group One Trading LLC increased its position in Columbus McKinnon by 266.7% during the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Zacks Research cut Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research report on Friday, February 13th. JPMorgan Chase & Co. cut their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. DA Davidson set a $20.00 target price on Columbus McKinnon in a research report on Thursday, February 12th. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. Finally, Wall Street Zen lowered shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Insider Activity

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of Columbus McKinnon stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total transaction of $120,706.80. Following the sale, the insider owned 9,366 shares in the company, valued at $218,040.48. The trade was a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.26% of the company’s stock.

Columbus McKinnon Stock Down 1.5%

Shares of CMCO opened at $18.50 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. The company has a 50-day simple moving average of $19.92 and a 200-day simple moving average of $17.08. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $24.40. The firm has a market capitalization of $531.67 million, a P/E ratio of 88.10 and a beta of 1.32.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a return on equity of 7.41% and a net margin of 0.60%.The business had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same period last year, the business earned $0.56 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities research analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Friday, February 13th were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Columbus McKinnon’s payout ratio is currently 133.33%.

Columbus McKinnon Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.