Insider Selling: Columbus McKinnon Corp. (NASDAQ:CMCO) VP Sells 7,500 Shares of Stock

Columbus McKinnon Corp. (NASDAQ:CMCO) VP Peter M. Mccormick sold 7,500 shares of Columbus McKinnon stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $38.75, for a total transaction of $290,625.00. Following the completion of the transaction, the vice president now directly owns 67,050 shares in the company, valued at approximately $2,598,187.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Columbus McKinnon stock opened at $39.00 on Thursday. The company has a market capitalization of $910.41 million, a PE ratio of 14.23 and a beta of 1.75. The company has a current ratio of 1.72, a quick ratio of 1.02 and a debt-to-equity ratio of 0.55. Columbus McKinnon Corp. has a fifty-two week low of $27.66 and a fifty-two week high of $45.85.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.11. The business had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.59 million. Columbus McKinnon had a net margin of 4.86% and a return on equity of 15.41%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $0.51 earnings per share. On average, equities research analysts predict that Columbus McKinnon Corp. will post 3 earnings per share for the current fiscal year.

Several research analysts have recently weighed in on CMCO shares. BidaskClub downgraded shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Zacks Investment Research raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. Finally, ValuEngine downgraded shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $44.50.

Hedge funds have recently bought and sold shares of the stock. Quantamental Technologies LLC acquired a new stake in shares of Columbus McKinnon during the first quarter worth approximately $56,000. Acadian Asset Management LLC boosted its holdings in shares of Columbus McKinnon by 219.6% during the fourth quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock worth $57,000 after purchasing an additional 1,298 shares during the period. Legal & General Group Plc boosted its holdings in shares of Columbus McKinnon by 14.5% during the fourth quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock worth $129,000 after purchasing an additional 541 shares during the period. Marshall Wace North America L.P. acquired a new stake in shares of Columbus McKinnon during the first quarter worth approximately $156,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in shares of Columbus McKinnon by 1,596.7% during the first quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the industrial products company’s stock worth $160,000 after purchasing an additional 4,375 shares during the period. Institutional investors and hedge funds own 99.62% of the company’s stock.

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About Columbus McKinnon

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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