Columbus McKinnon Corporation (CMCO) Stake Boosted by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 16.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,500 shares of the industrial products company’s stock after purchasing an additional 3,099 shares during the period. New York State Common Retirement Fund owned 0.10% of Columbus McKinnon Corporation worth $572,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Laurion Capital Management LP acquired a new position in shares of Columbus McKinnon Corporation during the second quarter worth $202,000. American International Group Inc. increased its position in shares of Columbus McKinnon Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock valued at $297,000 after acquiring an additional 795 shares during the period. Alliancebernstein L.P. increased its position in shares of Columbus McKinnon Corporation by 48.3% in the 2nd quarter. Alliancebernstein L.P. now owns 12,900 shares of the industrial products company’s stock valued at $328,000 after acquiring an additional 4,200 shares during the period. Century Capital Management LLC acquired a new position in shares of Columbus McKinnon Corporation in the 2nd quarter valued at $483,000. Finally, American Century Companies Inc. increased its position in shares of Columbus McKinnon Corporation by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 23,141 shares of the industrial products company’s stock valued at $588,000 after acquiring an additional 612 shares during the period. 85.06% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Corporation (NASDAQ CMCO) opened at $37.14 on Friday. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.96 and a quick ratio of 1.18. Columbus McKinnon Corporation has a 12-month low of $22.87 and a 12-month high of $41.49. The stock has a market capitalization of $854.15, a price-to-earnings ratio of 22.11 and a beta of 1.92.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.06. The company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $203.27 million. Columbus McKinnon Corporation had a return on equity of 10.95% and a net margin of 2.65%. The firm’s revenue for the quarter was up 40.0% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. research analysts predict that Columbus McKinnon Corporation will post 1.95 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Friday, November 10th will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.43%. The ex-dividend date is Thursday, November 9th. Columbus McKinnon Corporation’s dividend payout ratio is currently 18.82%.

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In other Columbus McKinnon Corporation news, VP Alan S. Korman sold 2,500 shares of the stock in a transaction dated Monday, September 11th. The stock was sold at an average price of $32.93, for a total transaction of $82,325.00. Following the sale, the vice president now directly owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy T. Tevens sold 9,723 shares of the stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $32.01, for a total value of $311,233.23. Following the sale, the director now directly owns 293,536 shares in the company, valued at $9,396,087.36. The disclosure for this sale can be found here. Insiders have sold a total of 100,802 shares of company stock worth $3,399,491 over the last ninety days. 3.91% of the stock is owned by insiders.

Several research firms recently issued reports on CMCO. Zacks Investment Research raised Columbus McKinnon Corporation from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research report on Thursday, November 2nd. Roth Capital upped their target price on Columbus McKinnon Corporation from $36.00 to $41.00 and gave the company a “buy” rating in a research report on Thursday, November 2nd. ValuEngine downgraded Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. TheStreet raised Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Finally, BidaskClub downgraded Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company. Columbus McKinnon Corporation currently has a consensus rating of “Buy” and an average target price of $37.00.

Columbus McKinnon Corporation Profile

Institutional Ownership by Quarter for Columbus McKinnon Corporation (NASDAQ:CMCO)

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