Allspring Global Investments Holdings LLC Has $37.50 Million Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Allspring Global Investments Holdings LLC trimmed its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 1.4% in the fourth quarter, HoldingsChannel reports. The firm owned 961,085 shares of the industrial products company’s stock after selling 13,465 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Columbus McKinnon were worth $37,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of CMCO. BlackRock Inc. lifted its position in Columbus McKinnon by 2.6% during the third quarter. BlackRock Inc. now owns 2,223,266 shares of the industrial products company’s stock worth $58,159,000 after acquiring an additional 55,329 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Columbus McKinnon by 3.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,791,162 shares of the industrial products company’s stock worth $66,558,000 after purchasing an additional 62,205 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Columbus McKinnon by 2.5% in the 1st quarter. Macquarie Group Ltd. now owns 1,539,598 shares of the industrial products company’s stock valued at $57,211,000 after purchasing an additional 36,868 shares during the period. Vanguard Group Inc. grew its holdings in Columbus McKinnon by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,509,323 shares of the industrial products company’s stock valued at $52,690,000 after buying an additional 14,621 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in Columbus McKinnon by 5.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,360,591 shares of the industrial products company’s stock worth $44,178,000 after buying an additional 66,610 shares during the period. Institutional investors own 95.96% of the company’s stock.

Insider Activity

In related news, SVP Lara Mario Y. Ramos sold 9,071 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total transaction of $349,233.50. Following the completion of the sale, the senior vice president now directly owns 12,266 shares in the company, valued at approximately $472,241. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $41.44, for a total transaction of $392,063.84. Following the sale, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at approximately $3,274,257.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lara Mario Y. Ramos sold 9,071 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total transaction of $349,233.50. Following the completion of the transaction, the senior vice president now directly owns 12,266 shares of the company’s stock, valued at approximately $472,241. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CMCO shares. StockNews.com cut shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, January 2nd. Finally, DA Davidson raised their target price on shares of Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, February 5th.

Columbus McKinnon Stock Down 1.6 %

Shares of NASDAQ CMCO opened at $41.74 on Friday. The stock has a market capitalization of $1.20 billion, a P/E ratio of 24.70 and a beta of 1.29. The stock’s fifty day moving average is $42.28 and its 200 day moving average is $38.06. Columbus McKinnon Co. has a 52 week low of $30.29 and a 52 week high of $44.97. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.16 and a current ratio of 1.92.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.69 by $0.05. The firm had revenue of $254.14 million for the quarter, compared to analyst estimates of $254.00 million. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. During the same period last year, the firm earned $0.72 EPS. Sell-side analysts forecast that Columbus McKinnon Co. will post 2.95 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.67%. The ex-dividend date is Thursday, May 2nd. Columbus McKinnon’s dividend payout ratio is presently 16.57%.

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.