Wealth Enhancement Advisory Services LLC purchased a new position in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,786 shares of the industrial products company's stock, valued at approximately $308,000. Wealth Enhancement Advisory Services LLC owned approximately 0.07% of Columbus McKinnon as of its most recent SEC filing.
A number of other hedge funds have also recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Columbus McKinnon by 5.1% in the first quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company's stock worth $3,739,000 after acquiring an additional 10,780 shares during the period. Stanley Capital Management LLC bought a new position in shares of Columbus McKinnon in the first quarter worth about $8,888,000. Inspire Investing LLC boosted its stake in shares of Columbus McKinnon by 90.0% in the first quarter. Inspire Investing LLC now owns 20,431 shares of the industrial products company's stock worth $346,000 after acquiring an additional 9,676 shares during the period. Palogic Value Management L.P. boosted its stake in shares of Columbus McKinnon by 49.0% in the first quarter. Palogic Value Management L.P. now owns 121,585 shares of the industrial products company's stock worth $2,058,000 after acquiring an additional 40,000 shares during the period. Finally, Dean Capital Management boosted its stake in shares of Columbus McKinnon by 65.0% in the first quarter. Dean Capital Management now owns 85,617 shares of the industrial products company's stock worth $1,449,000 after acquiring an additional 33,741 shares during the period. Institutional investors own 95.96% of the company's stock.
Columbus McKinnon Price Performance
NASDAQ:CMCO opened at $15.32 on Thursday. The firm has a market capitalization of $440.14 million, a price-to-earnings ratio of -28.37 and a beta of 1.26. Columbus McKinnon Corporation has a 1 year low of $11.78 and a 1 year high of $41.05. The business has a 50 day simple moving average of $14.70 and a 200-day simple moving average of $15.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01.
Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.03. The business had revenue of $235.92 million during the quarter, compared to analyst estimates of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. Equities analysts forecast that Columbus McKinnon Corporation will post 2.69 EPS for the current year.
Columbus McKinnon Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, August 8th. Columbus McKinnon's dividend payout ratio is presently -51.85%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on CMCO shares. Wall Street Zen raised Columbus McKinnon from a "hold" rating to a "buy" rating in a research note on Saturday, October 4th. Weiss Ratings reissued a "sell (d)" rating on shares of Columbus McKinnon in a research note on Wednesday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus target price of $35.00.
View Our Latest Stock Report on CMCO
Columbus McKinnon Profile
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Free Report)
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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