Citigroup Inc. Sells 6,529 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Citigroup Inc. lessened its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 47.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,290 shares of the industrial products company’s stock after selling 6,529 shares during the quarter. Citigroup Inc.’s holdings in Columbus McKinnon were worth $254,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in CMCO. Carmel Capital Partners LLC acquired a new position in shares of Columbus McKinnon in the third quarter valued at $27,000. Tower Research Capital LLC TRC increased its holdings in shares of Columbus McKinnon by 350.5% in the first quarter. Tower Research Capital LLC TRC now owns 919 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 715 shares during the last quarter. Point72 Middle East FZE acquired a new position in shares of Columbus McKinnon in the second quarter valued at $43,000. State of Wyoming increased its holdings in shares of Columbus McKinnon by 46.0% in the second quarter. State of Wyoming now owns 1,647 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 519 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Columbus McKinnon in the third quarter valued at $61,000. Institutional investors own 95.96% of the company’s stock.

Insider Activity at Columbus McKinnon

In related news, SVP Lara Mario Y. Ramos sold 9,071 shares of Columbus McKinnon stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now owns 12,266 shares of the company’s stock, valued at approximately $472,241. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $41.44, for a total transaction of $392,063.84. Following the sale, the chief financial officer now directly owns 79,012 shares in the company, valued at approximately $3,274,257.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Lara Mario Y. Ramos sold 9,071 shares of Columbus McKinnon stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the sale, the senior vice president now owns 12,266 shares in the company, valued at $472,241. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CMCO has been the topic of several research reports. DA Davidson upped their price objective on shares of Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 5th. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a research note on Tuesday, January 2nd. Finally, StockNews.com downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th.

Columbus McKinnon Stock Up 1.7 %

Shares of NASDAQ CMCO opened at $44.21 on Thursday. The company has a 50 day simple moving average of $41.18 and a 200 day simple moving average of $37.42. The firm has a market cap of $1.27 billion, a PE ratio of 26.16 and a beta of 1.28. Columbus McKinnon Co. has a 1 year low of $30.29 and a 1 year high of $44.33. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 1.16.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. The business had revenue of $254.14 million during the quarter, compared to analyst estimates of $254.00 million. During the same quarter last year, the business earned $0.72 EPS. On average, research analysts forecast that Columbus McKinnon Co. will post 2.95 EPS for the current year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 0.63%. The ex-dividend date is Thursday, May 2nd. Columbus McKinnon’s dividend payout ratio (DPR) is 16.57%.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.