Loomis Sayles & Co. L P grew its holdings in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 3.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 391,120 shares of the industrial products company’s stock after acquiring an additional 11,383 shares during the period. Loomis Sayles & Co. L P owned about 1.68% of Columbus McKinnon worth $15,465,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the company. Global X Management Co LLC raised its stake in Columbus McKinnon by 19.0% during the second quarter. Global X Management Co LLC now owns 8,092 shares of the industrial products company’s stock worth $351,000 after buying an additional 1,292 shares during the last quarter. Wells Fargo & Company MN raised its stake in Columbus McKinnon by 4.9% during the third quarter. Wells Fargo & Company MN now owns 34,020 shares of the industrial products company’s stock worth $1,346,000 after buying an additional 1,595 shares during the last quarter. Globeflex Capital L P raised its stake in Columbus McKinnon by 13.9% during the second quarter. Globeflex Capital L P now owns 13,900 shares of the industrial products company’s stock worth $603,000 after buying an additional 1,700 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Columbus McKinnon by 1.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 151,483 shares of the industrial products company’s stock worth $6,569,000 after buying an additional 1,847 shares during the last quarter. Finally, WINTON GROUP Ltd raised its stake in Columbus McKinnon by 40.1% during the third quarter. WINTON GROUP Ltd now owns 11,971 shares of the industrial products company’s stock worth $473,000 after buying an additional 3,428 shares during the last quarter. 97.73% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ CMCO opened at $31.50 on Friday. Columbus McKinnon Corp. has a twelve month low of $29.70 and a twelve month high of $45.85. The firm has a market cap of $756.64 million, a P/E ratio of 13.56 and a beta of 1.73. The company has a quick ratio of 1.05, a current ratio of 1.85 and a debt-to-equity ratio of 0.66.
Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, October 30th. The industrial products company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. Columbus McKinnon had a net margin of 2.49% and a return on equity of 13.88%. The business had revenue of $217.14 million during the quarter, compared to the consensus estimate of $218.91 million. During the same quarter last year, the firm earned $0.51 earnings per share. Columbus McKinnon’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts predict that Columbus McKinnon Corp. will post 2.64 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Friday, November 9th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date was Thursday, November 8th. Columbus McKinnon’s payout ratio is 9.95%.
A number of equities analysts recently weighed in on CMCO shares. BidaskClub downgraded shares of Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research note on Thursday, October 4th. ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Tuesday, September 4th. Craig Hallum set a $54.00 target price on shares of Columbus McKinnon and gave the stock a “buy” rating in a research note on Tuesday, October 30th. Finally, Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Tuesday, October 30th. Two investment analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. Columbus McKinnon currently has an average rating of “Hold” and a consensus price target of $47.00.
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Columbus McKinnon Company 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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