The Manufacturers Life Insurance Company Has $505,000 Position in Columbus McKinnon Co. (NASDAQ:CMCO)

The Manufacturers Life Insurance Company raised its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,630 shares of the industrial products company’s stock after buying an additional 646 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.05% of Columbus McKinnon worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CMCO. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Columbus McKinnon in the 2nd quarter valued at approximately $35,540,000. Millennium Management LLC grew its position in shares of Columbus McKinnon by 120.3% in the 2nd quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock valued at $6,899,000 after purchasing an additional 109,075 shares during the period. Hillsdale Investment Management Inc. acquired a new position in shares of Columbus McKinnon in the 1st quarter valued at approximately $3,791,000. Renaissance Technologies LLC grew its position in shares of Columbus McKinnon by 250.3% in the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock valued at $3,726,000 after purchasing an additional 77,085 shares during the period. Finally, Harbor Capital Advisors Inc. grew its position in shares of Columbus McKinnon by 273.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 92,622 shares of the industrial products company’s stock valued at $3,199,000 after purchasing an additional 67,817 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Trading Up 0.5 %

NASDAQ CMCO opened at $34.98 on Thursday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 21.59 and a beta of 1.17. The stock’s 50 day moving average price is $33.20 and its two-hundred day moving average price is $37.01. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The firm had revenue of $239.73 million for the quarter, compared to analysts’ expectations of $241.25 million. During the same quarter in the previous year, the business posted $0.62 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.