Wedge Capital Management L L P NC Has $1.51 Million Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Wedge Capital Management L L P NC raised its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 14.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 41,917 shares of the industrial products company’s stock after buying an additional 5,243 shares during the quarter. Wedge Capital Management L L P NC owned 0.15% of Columbus McKinnon worth $1,509,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Virtu Financial LLC bought a new position in Columbus McKinnon during the fourth quarter worth $264,000. Quadrature Capital Ltd acquired a new position in shares of Columbus McKinnon during the fourth quarter valued at about $987,000. Park Avenue Securities LLC lifted its stake in shares of Columbus McKinnon by 12.2% in the first quarter. Park Avenue Securities LLC now owns 6,650 shares of the industrial products company’s stock valued at $297,000 after buying an additional 725 shares during the period. Bridge City Capital LLC lifted its stake in shares of Columbus McKinnon by 17.9% in the first quarter. Bridge City Capital LLC now owns 10,639 shares of the industrial products company’s stock valued at $475,000 after buying an additional 1,616 shares during the period. Finally, GoalVest Advisory LLC acquired a new stake in Columbus McKinnon during the first quarter worth about $854,000. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Trading Up 0.5 %

Shares of CMCO stock opened at $34.98 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07. The firm has a fifty day moving average of $33.20 and a 200-day moving average of $37.01. Columbus McKinnon Co. has a 52-week low of $29.26 and a 52-week high of $45.84. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 21.59 and a beta of 1.17.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 EPS 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 firm had revenue of $239.73 million during the quarter, compared to analysts’ expectations of $241.25 million. During the same quarter last year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Analyst Ratings Changes

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

Columbus McKinnon 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.