Janney Montgomery Scott LLC Invests $869,000 in Columbus McKinnon Corporation $CMCO

Key Points

• Janney Montgomery Scott LLC has invested approximately $869,000 in Columbus McKinnon Corporation, acquiring 56,883 shares and holding 0.20% of the company.
• Several other institutional investors have significantly increased their stakes in Columbus McKinnon, with Invesco Ltd. expanding its holdings by 177.5% in the first quarter.
• Columbus McKinnon has a current stock valuation with a consensus rating of "Reduce" and an average price target of $35.00, according to analyst reports.

Janney Montgomery Scott LLC acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 56,883 shares of the industrial products company's stock, valued at approximately $869,000. Janney Montgomery Scott LLC owned 0.20% of Columbus McKinnon as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the company. Invesco Ltd. grew its holdings in Columbus McKinnon by 177.5% in the first quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock worth $21,388,000 after purchasing an additional 808,110 shares during the period. Segall Bryant & Hamill LLC grew its holdings in shares of Columbus McKinnon by 7.7% during the first quarter. Segall Bryant & Hamill LLC now owns 786,153 shares of the industrial products company's stock valued at $13,310,000 after buying an additional 56,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Columbus McKinnon by 24.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 780,806 shares of the industrial products company's stock valued at $13,219,000 after buying an additional 154,163 shares during the last quarter. Heartland Advisors Inc. grew its holdings in shares of Columbus McKinnon by 477.4% during the first quarter. Heartland Advisors Inc. now owns 577,375 shares of the industrial products company's stock valued at $9,775,000 after buying an additional 477,375 shares during the last quarter. Finally, Stanley Capital Management LLC acquired a new position in shares of Columbus McKinnon during the first quarter valued at about $8,888,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings reissued a "sell (d)" rating on shares of Columbus McKinnon in a research report on Wednesday, October 8th. Wall Street Zen raised shares of Columbus McKinnon from a "hold" rating to a "buy" rating in a research report on Saturday, October 4th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Reduce" and an average price target of $35.00.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $15.26 on Wednesday. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. Columbus McKinnon Corporation has a 1-year low of $11.78 and a 1-year high of $41.05. The firm has a market capitalization of $438.42 million, a PE ratio of -28.26 and a beta of 1.26. The firm's 50 day simple moving average is $14.75 and its 200 day simple moving average is $15.13.

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

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Columbus McKinnon's dividend payout ratio is -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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