Raymond James & Associates Trims Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Raymond James & Associates lowered its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 3.9% during the fourth quarter, Holdings Channel reports. The fund owned 54,098 shares of the industrial products company’s stock after selling 2,189 shares during the quarter. Raymond James & Associates’ holdings in Columbus McKinnon were worth $2,111,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of Columbus McKinnon by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,973 shares of the industrial products company’s stock worth $445,000 after acquiring an additional 324 shares during the period. Legal & General Group Plc raised its stake in Columbus McKinnon by 3.6% during the second quarter. Legal & General Group Plc now owns 9,817 shares of the industrial products company’s stock worth $278,000 after purchasing an additional 342 shares during the period. Hsbc Holdings PLC boosted its holdings in shares of Columbus McKinnon by 2.0% in the 1st quarter. Hsbc Holdings PLC now owns 17,982 shares of the industrial products company’s stock valued at $767,000 after purchasing an additional 352 shares during the last quarter. Bank of Montreal Can grew its stake in shares of Columbus McKinnon by 6.9% during the 1st quarter. Bank of Montreal Can now owns 5,815 shares of the industrial products company’s stock valued at $263,000 after buying an additional 375 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in shares of Columbus McKinnon by 2.3% during the 3rd quarter. Qube Research & Technologies Ltd now owns 22,646 shares of the industrial products company’s stock valued at $791,000 after buying an additional 510 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Columbus McKinnon

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

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $40.83 on Wednesday. The firm has a fifty day moving average of $42.29 and a 200-day moving average of $38.19. Columbus McKinnon Co. has a 52-week low of $30.29 and a 52-week high of $44.97. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $1.17 billion, a P/E ratio of 24.16 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. The firm had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $254.00 million. During the same period in the prior year, the company earned $0.72 EPS. As a group, analysts predict that Columbus McKinnon Co. will post 2.95 EPS for the current year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be paid a $0.07 dividend. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.69%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 16.57%.

Analyst Ratings Changes

Several research analysts recently weighed in on CMCO shares. StockNews.com lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. Finally, DA Davidson lifted their price objective on Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 5th.

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.