Bank of New York Mellon Corp Reduces Stock Holdings in Columbus McKinnon Corporation (NASDAQ:CMCO)

Bank of New York Mellon Corp lessened its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 2.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,569 shares of the industrial products company’s stock after selling 3,405 shares during the quarter. Bank of New York Mellon Corp owned about 0.55% of Columbus McKinnon worth $2,668,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. raised its position in Columbus McKinnon by 37.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company’s stock valued at $16,513,000 after purchasing an additional 266,020 shares during the last quarter. Invesco Ltd. increased its stake in Columbus McKinnon by 207.9% in the fourth quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company’s stock valued at $16,952,000 after purchasing an additional 307,355 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Columbus McKinnon by 13.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company’s stock valued at $57,646,000 after purchasing an additional 184,615 shares during the period. GAMMA Investing LLC raised its holdings in shares of Columbus McKinnon by 3,033.1% in the first quarter. GAMMA Investing LLC now owns 3,979 shares of the industrial products company’s stock valued at $67,000 after buying an additional 3,852 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Columbus McKinnon by 33.0% during the fourth quarter. Sei Investments Co. now owns 159,967 shares of the industrial products company’s stock worth $5,957,000 after buying an additional 39,686 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Up 1.2%

Columbus McKinnon stock opened at $16.17 on Monday. The stock has a 50 day moving average of $15.67 and a two-hundred day moving average of $19.26. Columbus McKinnon Corporation has a twelve month low of $11.78 and a twelve month high of $41.05. The stock has a market capitalization of $463.88 million, a price-to-earnings ratio of -95.12 and a beta of 1.28. The company has a current ratio of 1.81, a quick ratio of 1.04 and a debt-to-equity ratio of 0.48.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.02. Columbus McKinnon had a positive return on equity of 8.13% and a negative net margin of 0.53%. The company had revenue of $248.00 million for the quarter, compared to analyst estimates of $250.05 million. During the same quarter in the previous year, the company earned $0.75 EPS. The firm’s revenue for the quarter was down 7.0% compared to the same quarter last year. As a group, research analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Friday, August 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Friday, August 8th. Columbus McKinnon’s dividend payout ratio (DPR) is presently -164.71%.

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.