Bank of Montreal Can boosted its holdings in Columbus McKinnon Corp. (NASDAQ:CMCO) by 14.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 50,311 shares of the industrial products company’s stock after buying an additional 6,326 shares during the period. Bank of Montreal Can owned approximately 0.22% of Columbus McKinnon worth $1,516,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of CMCO. LPL Financial LLC purchased a new stake in shares of Columbus McKinnon during the third quarter valued at approximately $222,000. United Services Automobile Association purchased a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $280,000. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Columbus McKinnon during the third quarter valued at approximately $332,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Columbus McKinnon during the third quarter valued at approximately $340,000. Finally, Bailard Inc. purchased a new stake in shares of Columbus McKinnon during the third quarter valued at approximately $447,000. Institutional investors own 97.44% of the company’s stock.
CMCO stock opened at $36.87 on Thursday. Columbus McKinnon Corp. has a twelve month low of $27.66 and a twelve month high of $45.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.78 and a quick ratio of 1.01. The company has a market cap of $839.38 million, a PE ratio of 18.34 and a beta of 1.76.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. The business had revenue of $217.42 million during the quarter, compared to the consensus estimate of $215.05 million. On average, analysts anticipate that Columbus McKinnon Corp. will post 2.63 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 11th. Stockholders of record on Friday, February 1st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Thursday, January 31st. Columbus McKinnon’s payout ratio is currently 9.95%.
A number of analysts have recently issued reports on CMCO shares. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, October 30th. Craig Hallum set a $54.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a research note on Tuesday, October 30th. Seaport Global Securities started coverage on shares of Columbus McKinnon in a research note on Wednesday, January 23rd. They set a “buy” rating and a $42.00 price objective on the stock. Roth Capital set a $44.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a research note on Saturday, February 2nd. Finally, BidaskClub raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, January 16th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Columbus McKinnon has an average rating of “Buy” and an average price target of $44.50.
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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