Raymond James & Associates Lowers Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Raymond James & Associates reduced its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 3.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 54,098 shares of the industrial products company’s stock after selling 2,189 shares during the quarter. Raymond James & Associates owned 0.19% of Columbus McKinnon worth $2,111,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Envestnet Asset Management Inc. raised its holdings in Columbus McKinnon by 45.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 144,463 shares of the industrial products company’s stock worth $5,043,000 after purchasing an additional 45,075 shares during the period. Meros Investment Management LP raised its stake in shares of Columbus McKinnon by 16.2% during the 3rd quarter. Meros Investment Management LP now owns 206,308 shares of the industrial products company’s stock worth $7,202,000 after buying an additional 28,719 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Columbus McKinnon during the 3rd quarter valued at approximately $2,984,000. Moody National Bank Trust Division grew its stake in Columbus McKinnon by 23.1% in the 4th quarter. Moody National Bank Trust Division now owns 9,426 shares of the industrial products company’s stock valued at $368,000 after acquiring an additional 1,766 shares during the period. Finally, Foundry Partners LLC increased its holdings in Columbus McKinnon by 16.7% in the 3rd quarter. Foundry Partners LLC now owns 122,080 shares of the industrial products company’s stock worth $4,262,000 after acquiring an additional 17,480 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMCO has been the topic of several recent analyst reports. StockNews.com downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Tuesday, February 27th. TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b-” rating in a report on Tuesday, January 2nd. Finally, DA Davidson increased their target price on Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 5th.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $40.83 on Wednesday. The company has a fifty day simple moving average of $42.29 and a 200-day simple moving average of $38.19. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 24.16 and a beta of 1.29. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 0.57. Columbus McKinnon Co. has a 52-week low of $30.29 and a 52-week high of $44.97.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. The company had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $254.00 million. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. During the same quarter in the prior year, the company earned $0.72 EPS. On average, equities analysts anticipate that Columbus McKinnon Co. will post 2.95 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 0.69%. Columbus McKinnon’s payout ratio is 16.57%.

Insiders Place Their Bets

In other Columbus McKinnon news, SVP Lara Mario Y. Ramos sold 9,071 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now directly owns 12,266 shares of the company’s stock, valued at approximately $472,241. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total value of $392,063.84. Following the completion of the sale, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at $3,274,257.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Lara Mario Y. Ramos sold 9,071 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the transaction, the senior vice president now directly owns 12,266 shares in the company, valued at approximately $472,241. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by corporate insiders.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.