Park Avenue Securities LLC Has $297,000 Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Park Avenue Securities LLC raised its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 12.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,650 shares of the industrial products company’s stock after purchasing an additional 725 shares during the quarter. Park Avenue Securities LLC’s holdings in Columbus McKinnon were worth $297,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CMCO. Ziegler Capital Management LLC boosted its stake in Columbus McKinnon by 7.5% in the fourth quarter. Ziegler Capital Management LLC now owns 18,370 shares of the industrial products company’s stock valued at $717,000 after buying an additional 1,288 shares in the last quarter. TFO Wealth Partners LLC grew its holdings in shares of Columbus McKinnon by 13,440.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,344 shares during the last quarter. Teacher Retirement System of Texas lifted its stake in Columbus McKinnon by 6.2% in the 4th quarter. Teacher Retirement System of Texas now owns 24,251 shares of the industrial products company’s stock valued at $946,000 after purchasing an additional 1,417 shares during the last quarter. Truist Financial Corp lifted its stake in Columbus McKinnon by 2.2% in the 4th quarter. Truist Financial Corp now owns 66,726 shares of the industrial products company’s stock valued at $2,604,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Cascade Investment Advisors Inc. grew its stake in shares of Columbus McKinnon by 5.7% during the fourth quarter. Cascade Investment Advisors Inc. now owns 27,625 shares of the industrial products company’s stock worth $1,078,000 after buying an additional 1,495 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other news, Director Christopher J. Stephens acquired 1,500 shares of Columbus McKinnon stock in a transaction dated Friday, May 31st. The shares were bought at an average cost of $38.71 per share, with a total value of $58,065.00. Following the purchase, the director now owns 1,500 shares in the company, valued at approximately $58,065. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.98% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock opened at $34.54 on Monday. The stock has a market cap of $996.79 million, a price-to-earnings ratio of 21.32 and a beta of 1.26. Columbus McKinnon Co. has a twelve month low of $30.29 and a twelve month high of $45.84. The company’s fifty day moving average is $40.16 and its 200 day moving average is $40.40. The company has a quick ratio of 1.25, a current ratio of 1.96 and a debt-to-equity ratio of 0.54.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Wednesday, May 29th. The industrial products company reported $0.75 EPS for the quarter, missing analysts’ consensus estimates of $0.84 by ($0.09). Columbus McKinnon had a net margin of 4.60% and a return on equity of 9.59%. The company had revenue of $265.50 million during the quarter, compared to the consensus estimate of $264.85 million. During the same quarter last year, the firm posted $0.80 EPS. The company’s quarterly revenue was up 4.6% on a year-over-year basis. Sell-side analysts forecast that Columbus McKinnon Co. will post 3.18 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on CMCO. JPMorgan Chase & Co. assumed coverage on Columbus McKinnon in a report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price objective on the stock. StockNews.com cut Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.