DC Investments Management LLC Sells 59,645 Shares of Columbus McKinnon Corporation $CMCO

DC Investments Management LLC decreased its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 41.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,712 shares of the industrial products company’s stock after selling 59,645 shares during the period. DC Investments Management LLC owned about 0.29% of Columbus McKinnon worth $1,186,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CMCO. SummerHaven Investment Management LLC purchased a new stake in Columbus McKinnon in the third quarter worth approximately $735,000. Savant Capital LLC purchased a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $320,000. Assenagon Asset Management S.A. bought a new position in shares of Columbus McKinnon during the 3rd quarter valued at $8,040,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Columbus McKinnon in the 2nd quarter worth $1,480,000. Finally, RBF Capital LLC lifted its stake in Columbus McKinnon by 241.8% in the second quarter. RBF Capital LLC now owns 137,200 shares of the industrial products company’s stock worth $2,095,000 after purchasing an additional 97,060 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Price Performance

Shares of Columbus McKinnon stock opened at $19.10 on Friday. The business has a 50 day moving average of $19.69 and a 200 day moving average of $16.80. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $24.40. The company has a market cap of $548.91 million, a PE ratio of 90.95 and a beta of 1.33. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 0.43.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The business had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same period in the previous year, the firm earned $0.56 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Friday, February 13th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, February 13th. Columbus McKinnon’s payout ratio is presently 133.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Wall Street Zen lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Friday, January 23rd. DA Davidson set a $20.00 price target on Columbus McKinnon in a research note on Thursday, February 12th. JPMorgan Chase & Co. dropped their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday. Zacks Research cut shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. Finally, CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Columbus McKinnon has an average rating of “Hold” and an average target price of $23.50.

Insider Buying and Selling at Columbus McKinnon

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the company’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total transaction of $120,706.80. Following the transaction, the insider owned 9,366 shares in the company, valued at approximately $218,040.48. This represents a 35.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.26% of the company’s stock.

Columbus McKinnon Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.