Wedge Capital Management L L P NC acquired a new position in Columbus McKinnon Corp. (NASDAQ:CMCO) in the first quarter, HoldingsChannel reports. The institutional investor acquired 11,224 shares of the industrial products company’s stock, valued at approximately $386,000.
A number of other hedge funds have also modified their holdings of CMCO. Macquarie Group Ltd. grew its holdings in Columbus McKinnon by 17.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,503,022 shares of the industrial products company’s stock worth $45,301,000 after buying an additional 222,399 shares in the last quarter. Ceredex Value Advisors LLC bought a new position in Columbus McKinnon in the 4th quarter worth approximately $3,017,000. Divisar Capital Management LLC bought a new position in Columbus McKinnon in the 4th quarter worth approximately $3,014,000. Sagard Capital Partners Management Corp bought a new position in Columbus McKinnon in the 4th quarter worth approximately $2,501,000. Finally, Foresters Investment Management Company Inc. grew its holdings in Columbus McKinnon by 52.5% in the 4th quarter. Foresters Investment Management Company Inc. now owns 230,600 shares of the industrial products company’s stock worth $6,950,000 after buying an additional 79,400 shares in the last quarter. 96.40% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts recently issued reports on the company. ValuEngine raised Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. BidaskClub raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Thursday, April 4th. Roth Capital set a $44.00 price target on Columbus McKinnon and gave the company a “buy” rating in a research note on Saturday, February 2nd. Zacks Investment Research raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. Finally, Seaport Global Securities assumed coverage on Columbus McKinnon in a research note on Wednesday, January 23rd. They set a “buy” rating and a $42.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $44.50.
NASDAQ CMCO traded up $0.86 on Thursday, reaching $36.19. 680 shares of the stock traded hands, compared to its average volume of 96,672. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.01 and a current ratio of 1.78. The firm has a market cap of $825.13 million, a P/E ratio of 18.05 and a beta of 1.80. Columbus McKinnon Corp. has a 12 month low of $27.66 and a 12 month high of $45.85.
The company also recently declared a quarterly dividend, which was paid on Monday, May 13th. Shareholders of record on Friday, May 3rd were paid a dividend of $0.06 per share. This is a positive change from Columbus McKinnon’s previous quarterly dividend of $0.05. This represents a $0.24 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date of this dividend was Thursday, May 2nd. Columbus McKinnon’s dividend payout ratio (DPR) is presently 11.94%.
In other news, VP Alan S. Korman sold 5,168 shares of the firm’s stock in a transaction on 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 filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.27% of the company’s stock.
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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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