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

A number of other hedge funds have also bought and sold shares of the stock. Verity Asset Management Inc. acquired a new position in Columbus McKinnon during the 1st quarter valued at approximately $173,000. Skylands Capital LLC increased its stake in Columbus McKinnon by 7.1% during the 1st quarter. Skylands Capital LLC now owns 211,025 shares of the industrial products company's stock valued at $3,573,000 after purchasing an additional 13,950 shares in the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Columbus McKinnon by 37.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock worth $16,513,000 after acquiring an additional 266,020 shares during the period. Bridge City Capital LLC increased its stake in shares of Columbus McKinnon by 0.9% in the first quarter. Bridge City Capital LLC now owns 97,082 shares of the industrial products company's stock worth $1,644,000 after acquiring an additional 864 shares during the period. Finally, Parallel Advisors LLC acquired a new stake in shares of Columbus McKinnon in the first quarter worth $47,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO traded down $0.33 during midday trading on Friday, reaching $13.90. The company's stock had a trading volume of 257,684 shares, compared to its average volume of 457,061. The firm has a market capitalization of $399.35 million, a PE ratio of -25.74 and a beta of 1.29. Columbus McKinnon Corporation has a twelve month low of $11.78 and a twelve month high of $41.05. The stock has a fifty day moving average of $15.30 and a 200 day moving average of $18.03. 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 - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $230.88 million. Columbus McKinnon had a negative net margin of 1.63% and a positive return on equity of 7.62%. On average, equities analysts expect that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Stockholders of record on Friday, August 8th will be paid a $0.07 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Columbus McKinnon's dividend payout ratio is presently -51.85%.

Columbus McKinnon Company 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.