Rhumbline Advisers lowered its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 4.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,603 shares of the industrial products company’s stock after selling 1,081 shares during the period. Rhumbline Advisers owned approximately 0.11% of Columbus McKinnon Corporation worth $651,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Columbus McKinnon Corporation by 13.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,264,809 shares of the industrial products company’s stock worth $31,393,000 after acquiring an additional 152,165 shares in the last quarter. Vanguard Group Inc. grew its position in Columbus McKinnon Corporation by 3.1% in the first quarter. Vanguard Group Inc. now owns 779,302 shares of the industrial products company’s stock worth $19,343,000 after acquiring an additional 23,394 shares in the last quarter. JPMorgan Chase & Co. grew its position in Columbus McKinnon Corporation by 1.9% in the first quarter. JPMorgan Chase & Co. now owns 309,272 shares of the industrial products company’s stock worth $7,676,000 after acquiring an additional 5,622 shares in the last quarter. Principal Financial Group Inc. purchased a new position in Columbus McKinnon Corporation in the first quarter worth about $6,443,000. Finally, Bank of New York Mellon Corp grew its position in Columbus McKinnon Corporation by 11.8% in the first quarter. Bank of New York Mellon Corp now owns 221,644 shares of the industrial products company’s stock worth $5,501,000 after acquiring an additional 23,379 shares in the last quarter. Institutional investors own 86.37% of the company’s stock.

Columbus McKinnon Corporation (CMCO) opened at 37.87 on Friday. The firm’s 50 day moving average price is $32.24 and its 200 day moving average price is $27.28. Columbus McKinnon Corporation has a 12 month low of $16.86 and a 12 month high of $38.04. The stock has a market cap of $856.81 million, a price-to-earnings ratio of 57.38 and a beta of 1.87.

Columbus McKinnon Corporation (NASDAQ:CMCO) last released its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.23. The company had revenue of $203.70 million during the quarter, compared to the consensus estimate of $190.62 million. Columbus McKinnon Corporation had a net margin of 2.06% and a return on equity of 10.30%. Columbus McKinnon Corporation’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. On average, equities research analysts predict that Columbus McKinnon Corporation will post $1.90 EPS for the current fiscal year.

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In other Columbus McKinnon Corporation news, Director Timothy T. Tevens sold 45,172 shares of the stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $32.76, for a total value of $1,479,834.72. Following the completion of the sale, the director now owns 293,536 shares in the company, valued at approximately $9,616,239.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Alan S. Korman sold 2,500 shares of the stock in a transaction dated 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 sale, the vice president now owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The disclosure for this sale can be found here. In the last quarter, insiders sold 167,932 shares of company stock valued at $5,416,512. 3.91% of the stock is owned by insiders.

Several research firms recently commented on CMCO. ValuEngine upgraded Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research upgraded Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research report on Thursday, August 3rd. TheStreet upgraded Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Roth Capital set a $36.00 price target on Columbus McKinnon Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Finally, BidaskClub lowered Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. 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’s stock. Columbus McKinnon Corporation presently has a consensus rating of “Buy” and a consensus target price of $34.50.

Columbus McKinnon Corporation Company Profile

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

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