DC Investments Management LLC Sells 59,645 Shares of Columbus McKinnon Corporation $CMCO

DC Investments Management LLC cut its holdings in Columbus McKinnon Corporation (NASDAQ:CMCO) by 41.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,712 shares of the industrial products company’s stock after selling 59,645 shares during the quarter. DC Investments Management LLC’s holdings in Columbus McKinnon were worth $1,186,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Columbus McKinnon by 3.4% during the third quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock worth $26,873,000 after acquiring an additional 62,267 shares in the last quarter. Segall Bryant & Hamill LLC lifted its holdings in shares of Columbus McKinnon by 3.6% during the second quarter. Segall Bryant & Hamill LLC now owns 814,202 shares of the industrial products company’s stock valued at $12,433,000 after purchasing an additional 28,049 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Columbus McKinnon by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 697,270 shares of the industrial products company’s stock worth $10,649,000 after purchasing an additional 2,581 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in Columbus McKinnon during the 3rd quarter valued at approximately $8,040,000. Finally, Stanley Capital Management LLC raised its stake in Columbus McKinnon by 4.8% during the second quarter. Stanley Capital Management LLC now owns 550,000 shares of the industrial products company’s stock valued at $8,398,000 after buying an additional 25,000 shares during the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of the company’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the completion of the sale, the insider owned 9,366 shares in the company, valued at approximately $218,040.48. This represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $19.10 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. The company has a 50 day moving average price of $19.69 and a 200-day moving average price of $16.80. 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 $548.91 million, a PE ratio of 90.95 and a beta of 1.33.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The company had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. As a group, 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 declared a quarterly dividend, which will be paid on Monday, February 23rd. Stockholders of record on Friday, February 13th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Friday, February 13th. Columbus McKinnon’s dividend payout ratio (DPR) is 133.33%.

About Columbus McKinnon

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.