Algert Global LLC purchased a new stake in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) during the third quarter, Holdings Channel reports. The fund purchased 17,513 shares of the company’s stock, valued at approximately $312,000. Algert Global LLC owned 0.09% of Columbus McKinnon Corp. as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in CMCO. Royal Bank of Canada boosted its stake in Columbus McKinnon Corp. by 2.3% in the first quarter. Royal Bank of Canada now owns 2,628,577 shares of the company’s stock valued at $41,426,000 after buying an additional 59,860 shares during the period. Emerald Acquisition Ltd. purchased a new stake in Columbus McKinnon Corp. during the second quarter valued at $2,239,000. Aristotle Capital Boston LLC boosted its stake in Columbus McKinnon Corp. by 3.1% in the second quarter. Aristotle Capital Boston LLC now owns 244,766 shares of the company’s stock valued at $3,463,000 after buying an additional 7,249 shares during the period. Isthmus Partners LLC boosted its stake in Columbus McKinnon Corp. by 1.8% in the second quarter. Isthmus Partners LLC now owns 29,538 shares of the company’s stock valued at $418,000 after buying an additional 532 shares during the period. Finally, LSV Asset Management boosted its stake in Columbus McKinnon Corp. by 4.9% in the second quarter. LSV Asset Management now owns 561,171 shares of the company’s stock valued at $7,940,000 after buying an additional 26,332 shares during the period. Hedge funds and other institutional investors own 82.89% of the company’s stock.
Columbus McKinnon Corp. (NASDAQ:CMCO) traded up 0.46% during midday trading on Friday, hitting $26.16. 26,215 shares of the stock traded hands. Columbus McKinnon Corp. has a 52 week low of $12.62 and a 52 week high of $26.36. The company has a market capitalization of $529.32 million, a price-to-earnings ratio of 20.29 and a beta of 1.68. The stock’s 50-day moving average price is $20.32 and its 200 day moving average price is $17.22.
Columbus McKinnon Corp. (NASDAQ:CMCO) last announced its earnings results on Friday, October 28th. The company reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by $0.02. Columbus McKinnon Corp. had a net margin of 4.28% and a return on equity of 9.72%. The company had revenue of $151.90 million for the quarter, compared to the consensus estimate of $153.23 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts predict that Columbus McKinnon Corp. will post $1.42 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, November 21st. Shareholders of record on Friday, November 11th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.16 annualized dividend and a yield of 0.61%. Columbus McKinnon Corp.’s payout ratio is presently 12.31%.
Several equities research analysts have recently weighed in on CMCO shares. TheStreet upgraded shares of Columbus McKinnon Corp. from a “hold” rating to a “buy” rating in a research report on Thursday, November 10th. Zacks Investment Research upgraded shares of Columbus McKinnon Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research report on Monday, September 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.67.
In other Columbus McKinnon Corp. news, VP Alan S. Korman sold 2,000 shares of Columbus McKinnon Corp. stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $17.91, for a total transaction of $35,820.00. Following the completion of the sale, the vice president now directly owns 16,142 shares in the company, valued at $289,103.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 3.78% of the company’s stock.
Columbus McKinnon Corp. Company Profile