Columbus McKinnon Corporation (CMCO) Stake Lessened by Rutabaga Capital Management LLC MA

Rutabaga Capital Management LLC MA decreased its position in Columbus McKinnon Corporation (NASDAQ:CMCO) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 177,731 shares of the industrial products company’s stock after selling 18,900 shares during the period. Rutabaga Capital Management LLC MA owned about 0.79% of Columbus McKinnon Corporation worth $4,518,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CMCO. Russell Investments Group Ltd. grew its holdings in shares of Columbus McKinnon Corporation by 21.6% in the first quarter. Russell Investments Group Ltd. now owns 56,244 shares of the industrial products company’s stock worth $1,396,000 after purchasing an additional 9,999 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Columbus McKinnon Corporation by 87.0% in the first quarter. Wells Fargo & Company MN now owns 28,723 shares of the industrial products company’s stock worth $712,000 after purchasing an additional 13,367 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Columbus McKinnon Corporation by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 221,644 shares of the industrial products company’s stock worth $5,501,000 after purchasing an additional 23,379 shares during the last quarter. Sei Investments Co. grew its holdings in shares of Columbus McKinnon Corporation by 677.5% in the first quarter. Sei Investments Co. now owns 44,324 shares of the industrial products company’s stock worth $1,100,000 after purchasing an additional 38,623 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Columbus McKinnon Corporation by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Several brokerages have recently issued reports on CMCO. ValuEngine cut shares of Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Zacks Investment Research cut shares of Columbus McKinnon Corporation from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 3rd. TheStreet upgraded shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Roth Capital set a $36.00 price target on shares of Columbus McKinnon Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Finally, BidaskClub cut shares of Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. Columbus McKinnon Corporation currently has an average rating of “Hold” and a consensus target price of $34.50.

In other Columbus McKinnon Corporation news, VP Kurt F. Wozniak sold 13,205 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $31.64, for a total value of $417,806.20. Following the transaction, the vice president now owns 25,426 shares of the company’s stock, valued at approximately $804,478.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Timothy T. Tevens sold 8,770 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $32.15, for a total value of $281,955.50. Following the completion of the transaction, the chief executive officer now directly owns 293,536 shares in the company, valued at approximately $9,437,182.40. The disclosure for this sale can be found here. Insiders sold a total of 167,932 shares of company stock worth $5,416,512 in the last ninety days. 3.91% of the stock is currently owned by corporate insiders.

Columbus McKinnon Corporation (NASDAQ CMCO) traded up 0.24% during mid-day trading on Friday, reaching $37.58. 57,165 shares of the company traded hands. The firm has a market capitalization of $850.25 million, a P/E ratio of 56.94 and a beta of 1.90. The company’s 50 day moving average price is $34.88 and its 200 day moving average price is $28.72. Columbus McKinnon Corporation has a 12-month low of $16.86 and a 12-month high of $38.64.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.23. The company had revenue of $203.70 million for the quarter, compared to the consensus estimate of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. Columbus McKinnon Corporation’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.32 EPS. Equities research analysts predict that Columbus McKinnon Corporation will post $1.90 EPS for the current year.

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Columbus McKinnon Corporation Company Profile

Institutional Ownership by Quarter for Columbus McKinnon Corporation (NASDAQ:CMCO)

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