Hsbc Holdings PLC Trims Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Hsbc Holdings PLC decreased its holdings in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 73.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,426 shares of the industrial products company's stock after selling 15,397 shares during the quarter. Hsbc Holdings PLC's holdings in Columbus McKinnon were worth $203,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Sterling Capital Management LLC boosted its holdings in Columbus McKinnon by 810.0% during the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock worth $34,000 after buying an additional 810 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in Columbus McKinnon during the fourth quarter worth $239,000. KLP Kapitalforvaltning AS purchased a new position in shares of Columbus McKinnon in the fourth quarter valued at $250,000. PNC Financial Services Group Inc. increased its position in shares of Columbus McKinnon by 12.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company's stock valued at $265,000 after buying an additional 806 shares in the last quarter. Finally, LSV Asset Management acquired a new stake in Columbus McKinnon in the 4th quarter valued at about $276,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Insider Buying and Selling at Columbus McKinnon

In other news, Director Kathryn V. Bohl bought 2,819 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were bought at an average cost 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 in the company, valued at approximately $266,467.88. This trade represents a 23.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christopher J. Stephens bought 5,000 shares of the stock in a transaction on Thursday, February 13th. The shares were purchased at an average price of $20.27 per share, with a total value of $101,350.00. Following the acquisition, the director now owns 11,014 shares in the company, valued at approximately $223,253.78. This represents a 83.14% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 27,819 shares of company stock worth $473,064 over the last ninety days. Corporate insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CMCO shares. DA Davidson reiterated a "neutral" rating and issued a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com 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 up $0.33 during mid-day trading on Tuesday, hitting $18.23. 281,150 shares of the stock traded hands, compared to its average volume of 339,590. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The firm has a market cap of $521.61 million, a price-to-earnings ratio of 55.24 and a beta of 1.33. Columbus McKinnon Co. has a twelve month low of $11.78 and a twelve month high of $45.84. The company's 50-day simple moving average is $15.75 and its 200-day simple moving average is $27.27.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. As a group, equities research analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

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 1.54%. The ex-dividend date was Friday, May 2nd. Columbus McKinnon's payout ratio is 84.85%.

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.