Fisher Asset Management LLC Decreases Stake in Columbus McKinnon Corporation $CMCO

Fisher Asset Management LLC reduced its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 11.6% during the third quarter, according to its most recent filing with the SEC. The fund owned 289,982 shares of the industrial products company’s stock after selling 37,901 shares during the quarter. Fisher Asset Management LLC owned 1.01% of Columbus McKinnon worth $4,158,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CMCO. Group One Trading LLC raised its stake in shares of Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,600 shares during the period. Vanguard Group Inc. raised its position in shares of Columbus McKinnon by 3.4% during the 3rd quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock valued at $26,873,000 after buying an additional 62,267 shares in the last quarter. LSV Asset Management raised its position in Columbus McKinnon by 28.4% in the 3rd quarter. LSV Asset Management now owns 68,800 shares of the industrial products company’s stock worth $987,000 after purchasing an additional 15,200 shares during the period. Access Investment Management LLC lifted its stake in shares of Columbus McKinnon by 0.9% in the 3rd quarter. Access Investment Management LLC now owns 82,950 shares of the industrial products company’s stock valued at $1,190,000 after acquiring an additional 735 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in Columbus McKinnon by 37.6% in the third quarter. Principal Financial Group Inc. now owns 44,015 shares of the industrial products company’s stock valued at $631,000 after purchasing an additional 12,034 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of Columbus McKinnon stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total value of $120,706.80. Following the transaction, the insider owned 9,366 shares in the company, valued at $218,040.48. The trade was a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.26% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $18.45 on Friday. The company has a market cap of $530.25 million, a price-to-earnings ratio of 87.86 and a beta of 1.32. Columbus McKinnon Corporation has a 52-week low of $11.78 and a 52-week high of $24.40. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average is $19.94 and its 200 day moving average is $17.09.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.01. The business had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The business’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.56 earnings per share. Sell-side analysts forecast that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Friday, February 13th were issued a $0.07 dividend. The ex-dividend date was Friday, February 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 133.33%.

Analyst Ratings Changes

A number of brokerages recently commented on CMCO. JPMorgan Chase & Co. dropped their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Zacks Research cut Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a report on Thursday, February 12th. Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, CJS Securities raised Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $23.50.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.