Northwestern Mutual Wealth Management Co. purchased a new position in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,333 shares of the industrial products company’s stock, valued at approximately $1,397,000. Northwestern Mutual Wealth Management Co. owned approximately 0.15% of Columbus McKinnon at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of the stock. BlackRock Inc. lifted its stake in Columbus McKinnon by 3.9% during the second quarter. BlackRock Inc. now owns 1,530,023 shares of the industrial products company’s stock worth $66,342,000 after purchasing an additional 57,952 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Columbus McKinnon by 2.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,517,706 shares of the industrial products company’s stock valued at $65,807,000 after acquiring an additional 40,616 shares during the last quarter. Macquarie Group Ltd. lifted its stake in shares of Columbus McKinnon by 12.2% in the 2nd quarter. Macquarie Group Ltd. now owns 1,122,665 shares of the industrial products company’s stock valued at $48,679,000 after acquiring an additional 122,110 shares during the last quarter. Cortina Asset Management LLC lifted its stake in shares of Columbus McKinnon by 33.9% in the 2nd quarter. Cortina Asset Management LLC now owns 620,728 shares of the industrial products company’s stock valued at $26,915,000 after acquiring an additional 157,129 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Northern Trust Corp now owns 534,090 shares of the industrial products company’s stock valued at $23,157,000 after acquiring an additional 10,476 shares during the last quarter. 94.45% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts have recently commented on CMCO shares. ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, October 31st. BidaskClub cut Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Saturday, July 14th. Craig Hallum set a $54.00 price target on Columbus McKinnon and gave the company a “buy” rating in a research note on Tuesday, October 30th. Finally, Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Tuesday, October 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $47.00.
Shares of CMCO opened at $36.92 on Friday. Columbus McKinnon Corp. has a 52 week low of $29.70 and a 52 week high of $45.85. The firm has a market capitalization of $903.95 million, a PE ratio of 18.37 and a beta of 1.75. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.85 and a quick ratio of 1.05.
Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, October 30th. The industrial products company reported $0.70 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.08. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The company had revenue of $217.14 million during the quarter, compared to analysts’ expectations of $218.91 million. During the same period in the prior year, the company earned $0.51 EPS. Columbus McKinnon’s revenue was up 2.0% compared to the same quarter last year. As a group, analysts expect that Columbus McKinnon Corp. will post 2.64 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, November 19th. Stockholders of record on Friday, November 9th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date is Thursday, November 8th. Columbus McKinnon’s payout ratio is 9.95%.
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Columbus McKinnon Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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