Creative Planning Reduces Position in Columbus McKinnon Corporation $CMCO

Creative Planning trimmed its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 19.7% in the second quarter, HoldingsChannel.com reports. The fund owned 64,479 shares of the industrial products company’s stock after selling 15,862 shares during the quarter. Creative Planning’s holdings in Columbus McKinnon were worth $985,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Geode Capital Management LLC increased its position in Columbus McKinnon by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 697,270 shares of the industrial products company’s stock worth $10,649,000 after purchasing an additional 2,581 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Columbus McKinnon during the 2nd quarter worth about $1,480,000. Fox Run Management L.L.C. purchased a new stake in shares of Columbus McKinnon during the second quarter worth about $247,000. Savant Capital LLC purchased a new stake in shares of Columbus McKinnon during the second quarter worth about $320,000. Finally, Simplex Trading LLC raised its position in shares of Columbus McKinnon by 782.2% in the second quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock valued at $25,000 after buying an additional 1,932 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CMCO has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. Wall Street Zen raised Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus price target of $35.00.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $16.42 on Monday. The company has a market cap of $471.71 million, a P/E ratio of -30.41 and a beta of 1.30. The firm’s 50 day moving average is $15.27 and its two-hundred day moving average is $15.29. Columbus McKinnon Corporation has a fifty-two week low of $11.78 and a fifty-two week high of $41.05. The company has a quick ratio of 1.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.46.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Tuesday, February 8th. The industrial products company reported $0.36 EPS for the quarter. The business had revenue of $166.55 million during the quarter. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. Analysts expect that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, November 7th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Friday, November 7th. Columbus McKinnon’s payout ratio is currently 200.00%.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.