PNC Financial Services Group Inc. Trims Stake in Columbus McKinnon Corporation $CMCO

PNC Financial Services Group Inc. lessened its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 41.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,156 shares of the industrial products company’s stock after selling 2,973 shares during the period. PNC Financial Services Group Inc.’s holdings in Columbus McKinnon were worth $70,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in shares of Columbus McKinnon by 13.5% in the 4th 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. Vaughan Nelson Investment Management L.P. increased its holdings in Columbus McKinnon by 37.5% in the first 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 buying an additional 266,020 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Columbus McKinnon by 6.0% in the fourth quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company’s stock worth $30,875,000 after acquiring an additional 46,806 shares during the period. Segall Bryant & Hamill LLC boosted its stake in shares of Columbus McKinnon by 7.7% during the 1st quarter. Segall Bryant & Hamill LLC now owns 786,153 shares of the industrial products company’s stock worth $13,310,000 after acquiring an additional 56,028 shares in the last quarter. Finally, Aristotle Capital Boston LLC grew its position in shares of Columbus McKinnon by 19.3% during the 4th quarter. Aristotle Capital Boston LLC now owns 701,614 shares of the industrial products company’s stock valued at $26,128,000 after acquiring an additional 113,685 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $14.14 on Thursday. The stock has a market capitalization of $406.24 million, a price-to-earnings ratio of -26.19 and a beta of 1.29. The stock has a 50-day moving average of $15.16 and a 200 day moving average of $16.79. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. Columbus McKinnon Corporation has a twelve month low of $11.78 and a twelve month high of $41.05.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. The company had revenue of $235.92 million for the quarter, compared to analyst estimates of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. Sell-side analysts anticipate that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend was Friday, August 8th. Columbus McKinnon’s dividend payout ratio (DPR) is presently -51.85%.

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.