Schwab Charles Investment Management Inc. decreased its holdings in Columbus McKinnon Corp. (NASDAQ:CMCO) by 1.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,120 shares of the industrial products company’s stock after selling 2,703 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.64% of Columbus McKinnon worth $5,882,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Bank of Montreal Can raised its holdings in Columbus McKinnon by 11.1% in the 4th quarter. Bank of Montreal Can now owns 34,470 shares of the industrial products company’s stock worth $1,378,000 after purchasing an additional 3,440 shares during the period. Sheets Smith Wealth Management raised its holdings in Columbus McKinnon by 70.8% in the 4th quarter. Sheets Smith Wealth Management now owns 15,728 shares of the industrial products company’s stock worth $629,000 after purchasing an additional 6,521 shares during the period. Susquehanna International Group LLP raised its holdings in Columbus McKinnon by 2.8% in the 3rd quarter. Susquehanna International Group LLP now owns 47,111 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 1,280 shares during the period. Algert Global LLC acquired a new position in Columbus McKinnon in the 3rd quarter worth about $1,054,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Columbus McKinnon in the 3rd quarter worth about $202,000. 86.17% of the stock is owned by institutional investors.
In other Columbus McKinnon news, VP Alan S. Korman sold 1,724 shares of the stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $36.00, for a total transaction of $62,064.00. Following the completion of the transaction, the vice president now owns 16,593 shares of the company’s stock, valued at $597,348. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.91% of the stock is owned by corporate insiders.
Columbus McKinnon Corp. (CMCO) opened at $37.14 on Tuesday. Columbus McKinnon Corp. has a fifty-two week low of $23.13 and a fifty-two week high of $44.55. The company has a market capitalization of $862.16, a P/E ratio of 100.38 and a beta of 1.85. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.83.
Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, February 6th. The industrial products company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The business had revenue of $208.73 million during the quarter, compared to analysts’ expectations of $201.08 million. During the same quarter in the prior year, the firm earned $0.25 earnings per share. The business’s revenue was up 36.9% compared to the same quarter last year. equities research analysts expect that Columbus McKinnon Corp. will post 2 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 9th were issued a dividend of $0.04 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.43%. Columbus McKinnon’s payout ratio is currently 43.24%.
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Columbus McKinnon Profile
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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