Wells Fargo & Company MN Boosts Position in Columbus McKinnon Corp. (NASDAQ:CMCO)

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Wells Fargo & Company MN boosted its holdings in Columbus McKinnon Corp. (NASDAQ:CMCO) by 105.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 239,710 shares of the industrial products company’s stock after buying an additional 123,155 shares during the period. Wells Fargo & Company MN owned approximately 1.01% of Columbus McKinnon worth $10,060,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCO. Marshall Wace North America L.P. acquired a new stake in Columbus McKinnon in the first quarter valued at approximately $156,000. BNP Paribas Arbitrage SA lifted its stake in Columbus McKinnon by 1,596.7% during the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 4,375 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Columbus McKinnon during the second quarter worth $353,000. GSA Capital Partners LLP lifted its stake in Columbus McKinnon by 17.2% during the second quarter. GSA Capital Partners LLP now owns 8,915 shares of the industrial products company’s stock worth $374,000 after purchasing an additional 1,311 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Columbus McKinnon during the first quarter worth $376,000. Hedge funds and other institutional investors own 99.53% of the company’s stock.

In related news, VP Benjamin Auyeung sold 6,853 shares of Columbus McKinnon stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $34.37, for a total transaction of $235,537.61. Following the sale, the vice president now directly owns 10,531 shares in the company, valued at $361,950.47. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.39% of the stock is owned by insiders.

Shares of NASDAQ CMCO traded down $0.40 during midday trading on Thursday, reaching $37.75. 1,991 shares of the company traded hands, compared to its average volume of 111,703. Columbus McKinnon Corp. has a 52 week low of $27.66 and a 52 week high of $44.01. The stock has a 50-day moving average price of $35.09 and a 200 day moving average price of $37.19. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.75 and a quick ratio of 1.01. The company has a market cap of $901.14 million, a price-to-earnings ratio of 13.85 and a beta of 1.79.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.04. Columbus McKinnon had a net margin of 6.19% and a return on equity of 15.44%. The business had revenue of $212.70 million for the quarter, compared to analysts’ expectations of $214.84 million. During the same period in the previous year, the business earned $0.74 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Columbus McKinnon Corp. will post 3 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date of this dividend was Thursday, August 8th. Columbus McKinnon’s dividend payout ratio is currently 8.76%.

CMCO has been the topic of a number of recent research reports. Zacks Investment Research upgraded Columbus McKinnon from a “sell” rating to a “hold” rating and set a $43.00 target price on the stock in a research note on Tuesday, July 30th. Dougherty & Co began coverage on Columbus McKinnon in a research note on Tuesday, August 27th. They issued a “buy” rating and a $40.00 target price on the stock. Sidoti cut their price objective on shares of Columbus McKinnon from $57.00 to $55.00 and set a “buy” rating on the stock in a research note on Tuesday, August 27th. ValuEngine cut shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Finally, BidaskClub cut shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $46.33.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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

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