Two Sigma Investments LP Has $1.27 Million Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Two Sigma Investments LP lowered its holdings in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 71.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,172 shares of the industrial products company's stock after selling 83,482 shares during the quarter. Two Sigma Investments LP owned 0.12% of Columbus McKinnon worth $1,273,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vaughan Nelson Investment Management L.P. acquired a new position in Columbus McKinnon in the fourth quarter worth $26,416,000. Victory Capital Management Inc. boosted its stake in Columbus McKinnon by 117.8% in the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock worth $27,455,000 after purchasing an additional 398,826 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Columbus McKinnon in the fourth quarter worth $14,799,000. Segall Bryant & Hamill LLC boosted its stake in Columbus McKinnon by 95.3% in the fourth quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company's stock worth $27,190,000 after purchasing an additional 356,232 shares in the last quarter. Finally, Invesco Ltd. boosted its stake in Columbus McKinnon by 207.9% in the fourth quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company's stock worth $16,952,000 after purchasing an additional 307,355 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Insider Activity at Columbus McKinnon

In related news, Director Kathryn V. Bohl acquired 2,819 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was acquired at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the completion of the acquisition, the director now owns 14,812 shares of the company's stock, valued at $266,467.88. This trade represents a 23.51% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last quarter, insiders purchased 4,819 shares of company stock worth $79,634. 1.98% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Wall Street Zen downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson restated a "neutral" rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Columbus McKinnon Trading Up 3.4%

Shares of CMCO stock traded up $0.50 on Friday, reaching $15.35. 403,406 shares of the stock were exchanged, compared to its average volume of 371,413. The stock has a market cap of $439.50 million, a PE ratio of 46.52 and a beta of 1.28. Columbus McKinnon Co. has a one year low of $11.78 and a one year high of $41.05. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The stock has a 50 day moving average price of $15.17 and a 200 day moving average price of $24.94.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.02. The business had revenue of $248.00 million during the quarter, compared to the consensus estimate of $250.05 million. Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. The firm's revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.75 earnings per share. Equities research analysts forecast that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Investors of record on Friday, May 2nd were issued a $0.07 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a yield of 1.82%. Columbus McKinnon's dividend payout ratio is presently -164.71%.

About Columbus McKinnon

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.