First Trust Advisors LP trimmed its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 3.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,011 shares of the industrial products company’s stock after selling 654 shares during the period. First Trust Advisors LP owned 0.07% of Columbus McKinnon Corporation worth $407,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of CMCO. Envestnet Asset Management Inc. increased its stake in shares of Columbus McKinnon Corporation by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 91 shares in the last quarter. Trexquant Investment LP increased its stake in shares of Columbus McKinnon Corporation by 42.9% in the 1st quarter. Trexquant Investment LP now owns 11,164 shares of the industrial products company’s stock worth $277,000 after purchasing an additional 3,352 shares in the last quarter. American International Group Inc. increased its stake in shares of Columbus McKinnon Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 795 shares in the last quarter. Alambic Investment Management L.P. increased its stake in shares of Columbus McKinnon Corporation by 26.8% in the 1st quarter. Alambic Investment Management L.P. now owns 12,425 shares of the industrial products company’s stock worth $308,000 after purchasing an additional 2,625 shares in the last quarter. Finally, Gotham Asset Management LLC purchased a new stake in shares of Columbus McKinnon Corporation in the 1st quarter worth $341,000. Hedge funds and other institutional investors own 86.37% of the company’s stock.

In related news, VP Alan S. Korman sold 2,500 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were sold at an average price of $32.93, for a total transaction of $82,325.00. Following the completion of the transaction, the vice president now owns 13,121 shares of the company’s stock, valued at $432,074.53. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Kurt F. Wozniak sold 13,205 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $31.64, for a total transaction of $417,806.20. Following the transaction, the vice president now directly owns 25,426 shares of the company’s stock, valued at approximately $804,478.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 167,932 shares of company stock valued at $5,416,512. 3.91% of the stock is currently owned by corporate insiders.

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) opened at 37.25 on Thursday. The stock has a 50 day moving average price of $32.24 and a 200 day moving average price of $27.28. The stock has a market capitalization of $842.78 million, a price-to-earnings ratio of 56.44 and a beta of 1.87. Columbus McKinnon Corporation has a 1-year low of $16.86 and a 1-year high of $37.50.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.32 by $0.23. Columbus McKinnon Corporation had a net margin of 2.06% and a return on equity of 10.30%. The firm had revenue of $203.70 million during the quarter, compared to analysts’ expectations of $190.62 million. During the same quarter last year, the company posted $0.32 earnings per share. The firm’s revenue was up 36.7% compared to the same quarter last year. Equities research analysts anticipate that Columbus McKinnon Corporation will post $1.90 EPS for the current year.

Several equities research analysts have recently commented on CMCO shares. ValuEngine upgraded Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub upgraded Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. TheStreet lowered Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a research note on Wednesday, May 31st. Roth Capital started coverage on Columbus McKinnon Corporation in a research note on Friday, July 28th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Zacks Investment Research upgraded Columbus McKinnon Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Columbus McKinnon Corporation presently has a consensus rating of “Buy” and an average price target of $34.50.

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Columbus McKinnon Corporation Profile

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Institutional Ownership by Quarter for Columbus McKinnon Corporation (NASDAQ:CMCO)

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