United Services Automobile Association boosted its stake in Columbus McKinnon Corp. (NASDAQ:CMCO) by 1,027.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,393 shares of the industrial products company’s stock after acquiring an additional 74,171 shares during the quarter. United Services Automobile Association owned about 0.35% of Columbus McKinnon worth $2,453,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCO. Victory Capital Management Inc. boosted its stake in shares of Columbus McKinnon by 1.1% during the 4th quarter. Victory Capital Management Inc. now owns 44,045 shares of the industrial products company’s stock valued at $1,328,000 after buying an additional 460 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Columbus McKinnon by 8.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,390 shares of the industrial products company’s stock valued at $222,000 after buying an additional 590 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Columbus McKinnon by 15.4% during the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock valued at $217,000 after buying an additional 957 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Columbus McKinnon by 219.6% during the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,298 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Columbus McKinnon by 4.9% during the 3rd quarter. Wells Fargo & Company MN now owns 34,020 shares of the industrial products company’s stock valued at $1,346,000 after buying an additional 1,595 shares during the last quarter. Hedge funds and other institutional investors own 97.54% of the company’s stock.
In other news, VP Alan S. Korman sold 5,168 shares of the firm’s stock in a transaction dated Monday, February 25th. The stock was sold at an average price of $37.90, for a total transaction of $195,867.20. Following the completion of the sale, the vice president now directly owns 15,711 shares of the company’s stock, valued at approximately $595,446.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.27% of the stock is owned by company insiders.
Shares of NASDAQ CMCO opened at $33.18 on Monday. Columbus McKinnon Corp. has a 1-year low of $27.66 and a 1-year high of $45.85. The firm has a market capitalization of $774.75 million, a price-to-earnings ratio of 16.51 and a beta of 1.78. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61.
Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Thursday, January 31st. The industrial products company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.03. Columbus McKinnon had a return on equity of 14.55% and a net margin of 3.58%. The business had revenue of $217.42 million during the quarter, compared to analysts’ expectations of $215.05 million. Sell-side analysts anticipate that Columbus McKinnon Corp. will post 2.63 EPS for the current fiscal year.
Several equities analysts have recently commented on CMCO shares. BidaskClub upgraded Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research note on Tuesday, December 25th. Zacks Investment Research lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, January 1st. Finally, ValuEngine lowered Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Tuesday, November 27th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $44.50.
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Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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