Columbus McKinnon Co. (NASDAQ:CMCO) Shares Bought by Rhumbline Advisers

Rhumbline Advisers boosted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 47,162 shares of the industrial products company’s stock after purchasing an additional 911 shares during the period. Rhumbline Advisers owned approximately 0.16% of Columbus McKinnon worth $1,629,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCO. Innealta Capital LLC purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $41,000. TFO Wealth Partners LLC lifted its holdings in Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,344 shares during the period. CWM LLC boosted its position in Columbus McKinnon by 679.8% in the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,584 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Columbus McKinnon during the 2nd quarter worth approximately $73,000. Finally, ProShare Advisors LLC purchased a new position in shares of Columbus McKinnon during the 1st quarter valued at approximately $226,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CMCO shares. JPMorgan Chase & Co. began coverage on shares of Columbus McKinnon in a report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price target on the stock. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Columbus McKinnon Trading Down 3.1 %

Shares of CMCO stock opened at $32.31 on Friday. Columbus McKinnon Co. has a 1-year low of $29.26 and a 1-year high of $45.84. The company has a market cap of $932.43 million, a price-to-earnings ratio of 20.35 and a beta of 1.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20. The stock has a 50 day simple moving average of $34.02 and a 200-day simple moving average of $38.09.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The company had revenue of $239.73 million during the quarter, compared to analysts’ expectations of $241.25 million. During the same period in the prior year, the business posted $0.62 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon’s dividend payout ratio is presently 17.28%.

About Columbus McKinnon

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.