Schwab Charles Investment Management Inc. increased its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 3.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,928 shares of the industrial products company’s stock after buying an additional 4,104 shares during the period. Schwab Charles Investment Management Inc. owned 0.60% of Columbus McKinnon Corporation worth $3,002,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its stake in Columbus McKinnon Corporation by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 221,644 shares of the industrial products company’s stock worth $5,501,000 after buying an additional 23,379 shares during the period. US Bancorp DE increased its stake in Columbus McKinnon Corporation by 1.6% in the first quarter. US Bancorp DE now owns 28,659 shares of the industrial products company’s stock worth $711,000 after buying an additional 450 shares during the period. Boston Partners acquired a new stake in Columbus McKinnon Corporation during the first quarter worth approximately $2,050,000. American Century Companies Inc. increased its stake in Columbus McKinnon Corporation by 121.0% in the first quarter. American Century Companies Inc. now owns 22,529 shares of the industrial products company’s stock worth $559,000 after buying an additional 12,337 shares during the period. Finally, Algert Global LLC increased its stake in Columbus McKinnon Corporation by 3.7% in the first quarter. Algert Global LLC now owns 34,830 shares of the industrial products company’s stock worth $864,000 after buying an additional 1,250 shares during the period. 84.05% of the stock is owned by hedge funds and other institutional investors.
Shares of Columbus McKinnon Corporation (CMCO) traded up 0.03% on Friday, hitting $30.83. The stock had a trading volume of 68,194 shares. The company’s 50-day moving average price is $27.94 and its 200 day moving average price is $26.42. Columbus McKinnon Corporation has a 12-month low of $16.86 and a 12-month high of $33.12. The firm has a market cap of $697.53 million, a P/E ratio of 46.71 and a beta of 1.92.
Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.23. The business had revenue of $203.70 million during the quarter, compared to analyst estimates of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. The company’s revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 earnings per share. On average, equities research analysts forecast that Columbus McKinnon Corporation will post $1.90 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 21st. Stockholders of record on Friday, August 11th will be issued a $0.04 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.52%. Columbus McKinnon Corporation’s dividend payout ratio (DPR) is 25.00%.
A number of research firms have commented on CMCO. Roth Capital set a $36.00 target price on Columbus McKinnon Corporation and gave the company a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research raised Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company in a report on Thursday, August 3rd. BidaskClub upgraded Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. TheStreet cut Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. Finally, ValuEngine cut Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $34.50.
In other news, VP Alan S. Korman sold 1,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $28.71, for a total value of $28,710.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Timothy T. Tevens sold 8,770 shares of the company’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $32.15, for a total value of $281,955.50. Following the completion of the sale, the chief executive officer now owns 293,536 shares of the company’s stock, valued at approximately $9,437,182.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 125,087 shares of company stock valued at $4,030,122. Insiders own 3.91% of the company’s stock.
About Columbus McKinnon Corporation
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