Columbus McKinnon Co. (NASDAQ:CMCO) Shares Sold by Central Pacific Bank Trust Division

Central Pacific Bank Trust Division cut its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 78.1% in the first quarter, HoldingsChannel reports. The institutional investor owned 2,296 shares of the industrial products company’s stock after selling 8,203 shares during the quarter. Central Pacific Bank Trust Division’s holdings in Columbus McKinnon were worth $39,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMCO. Sterling Capital Management LLC grew its stake in shares of Columbus McKinnon by 810.0% during the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 810 shares during the last quarter. Freestone Grove Partners LP acquired a new stake in Columbus McKinnon in the 4th quarter worth approximately $242,000. KLP Kapitalforvaltning AS purchased a new stake in Columbus McKinnon during the 4th quarter worth approximately $250,000. MGO One Seven LLC acquired a new position in Columbus McKinnon during the 4th quarter valued at approximately $256,000. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Columbus McKinnon by 12.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after buying an additional 806 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $14.65 on Monday. Columbus McKinnon Co. has a twelve month low of $11.78 and a twelve month high of $41.05. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.50. The company has a market cap of $419.46 million, a PE ratio of 44.39 and a beta of 1.33. The company’s 50 day moving average is $15.42 and its 200 day moving average is $25.54.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. The firm had revenue of $248.00 million for the quarter, compared to analyst estimates of $250.05 million. Columbus McKinnon had a net margin of 0.95% and a return on equity of 8.64%. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, sell-side analysts forecast that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.91%. Columbus McKinnon’s payout ratio is currently -164.71%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CMCO shares. DA Davidson reissued a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th. Wall Street Zen downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Activity

In related news, Director Kathryn V. Bohl bought 2,819 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The shares were purchased at an average cost of $17.99 per share, with a total value of $50,713.81. Following the completion of the acquisition, the director now directly owns 14,812 shares in the company, valued at approximately $266,467.88. The trade was a 23.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.98% of the company’s stock.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.