Columbus McKinnon Co. (NASDAQ:CMCO) Shares Sold by Two Sigma Advisers LP

Two Sigma Advisers LP lessened its stake in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 55.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,360 shares of the industrial products company's stock after selling 39,000 shares during the quarter. Two Sigma Advisers LP owned about 0.11% of Columbus McKinnon worth $1,168,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CMCO. Sterling Capital Management LLC raised its holdings in 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. Freestone Grove Partners LP bought a new stake in Columbus McKinnon in the fourth quarter worth approximately $242,000. KLP Kapitalforvaltning AS bought a new position in shares of Columbus McKinnon during the 4th quarter worth approximately $250,000. MGO One Seven LLC bought a new position in shares of Columbus McKinnon during the 4th quarter worth approximately $256,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock worth $265,000 after buying an additional 806 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

CMCO has been the topic of several research reports. DA Davidson restated a "neutral" rating and set a $35.00 price objective on shares of Columbus McKinnon in a report on Tuesday, February 18th. Wall Street Zen cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th.

Columbus McKinnon Price Performance

Shares of CMCO stock traded down $0.02 during trading hours on Wednesday, hitting $14.88. 421,154 shares of the company's stock were exchanged, compared to its average volume of 368,762. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. Columbus McKinnon Co. has a 12-month low of $11.78 and a 12-month high of $41.05. The business's 50 day simple moving average is $15.24 and its 200-day simple moving average is $25.23. The company has a market capitalization of $426.04 million, a PE ratio of 45.09 and a beta of 1.33.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its earnings results on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. The business had revenue of $248.00 million during the quarter, compared to analysts' expectations of $250.05 million. During the same period in the previous year, the company earned $0.75 earnings per share. The business's revenue for the quarter was down 7.0% compared to the same quarter last year. On average, equities research analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Friday, May 2nd were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date of this dividend was Friday, May 2nd. Columbus McKinnon's dividend payout ratio (DPR) is currently -164.71%.

Insider Activity

In related news, Director Kathryn V. Bohl acquired 2,819 shares of the firm's stock in a transaction on Wednesday, March 19th. The shares were acquired at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the transaction, the director now directly owns 14,812 shares in the company, valued at approximately $266,467.88. This trade represents a 23.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.98% of the company's stock.

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.