Envestnet Asset Management Inc. Lowers Holdings in Columbus McKinnon Corporation (NASDAQ:CMCO)

Key Points

• Envestnet Asset Management Inc. significantly reduced its holdings in Columbus McKinnon Corporation by 82.0%, leaving the firm with 28,229 shares valued at $478,000.
• Other institutional investors, such as Sterling Capital Management and Versant Capital Management, have increased their stakes in Columbus McKinnon, reflecting a trend of changing positions among hedge funds.
• Columbus McKinnon announced a quarterly dividend of $0.07 per share and reported earnings that surpassed analyst expectations, with a revenue of $235.92 million for the quarter.

Envestnet Asset Management Inc. trimmed its position in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 82.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,229 shares of the industrial products company's stock after selling 128,305 shares during the quarter. Envestnet Asset Management Inc. owned 0.10% of Columbus McKinnon worth $478,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Sterling Capital Management LLC lifted its stake in shares of Columbus McKinnon by 810.0% during the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock worth $34,000 after purchasing an additional 810 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Columbus McKinnon by 3,784.1% during the 1st quarter. Versant Capital Management Inc now owns 2,447 shares of the industrial products company's stock worth $41,000 after purchasing an additional 2,384 shares during the last quarter. Parallel Advisors LLC purchased a new stake in shares of Columbus McKinnon during the 1st quarter worth $47,000. GAMMA Investing LLC lifted its stake in shares of Columbus McKinnon by 3,033.1% during the 1st quarter. GAMMA Investing LLC now owns 3,979 shares of the industrial products company's stock worth $67,000 after purchasing an additional 3,852 shares during the last quarter. Finally, Freestone Grove Partners LP purchased a new stake in shares of Columbus McKinnon during the 4th quarter worth $242,000. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Trading Up 3.8%

Shares of NASDAQ CMCO opened at $14.27 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01. The stock has a market capitalization of $409.98 million, a P/E ratio of -26.43 and a beta of 1.29. Columbus McKinnon Corporation has a 1-year low of $11.78 and a 1-year high of $41.05. The business has a fifty day moving average price of $15.37 and a 200 day moving average price of $18.37.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $235.92 million during the quarter, compared to analysts' expectations of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. Equities research analysts expect that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Friday, August 8th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date of this dividend is Friday, August 8th. Columbus McKinnon's dividend payout ratio is currently -51.85%.

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.

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