Columbus McKinnon Corp. (CMCO) Position Decreased by Forest Hill Capital LLC
Forest Hill Capital LLC cut its holdings in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 27.9% during the fourth quarter, Holdings Channel reports. The fund owned 105,965 shares of the industrial products company’s stock after selling 41,000 shares during the quarter. Forest Hill Capital LLC’s holdings in Columbus McKinnon were worth $4,236,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also bought and sold shares of the company. Howe & Rusling Inc. acquired a new position in Columbus McKinnon in the 4th quarter valued at $114,000. Globeflex Capital L P acquired a new position in Columbus McKinnon in the 4th quarter valued at $149,000. SG Americas Securities LLC acquired a new position in Columbus McKinnon in the 3rd quarter valued at $141,000. Cubist Systematic Strategies LLC acquired a new position in Columbus McKinnon in the 3rd quarter valued at $202,000. Finally, Trexquant Investment LP acquired a new position in Columbus McKinnon in the 3rd quarter valued at $212,000. 86.17% of the stock is currently owned by institutional investors and hedge funds.
CMCO has been the topic of a number of research reports. BidaskClub lowered Columbus McKinnon from a “hold” rating to a “sell” rating in a report on Friday, January 19th. Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday, February 21st. Roth Capital upped their price objective on Columbus McKinnon from $41.00 to $50.00 and gave the company a “buy” rating in a report on Monday, January 15th. ValuEngine raised Columbus McKinnon from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Finally, TheStreet lowered Columbus McKinnon from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $47.33.
Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Tuesday, February 6th. The industrial products company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.13. The firm had revenue of $208.73 million during the quarter, compared to the consensus estimate of $201.08 million. Columbus McKinnon had a return on equity of 11.87% and a net margin of 1.10%. The company’s revenue was up 36.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.25 EPS. sell-side analysts anticipate that Columbus McKinnon Corp. will post 2 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 20th. Stockholders of record on Friday, February 9th were given a dividend of $0.04 per share. The ex-dividend date was Thursday, February 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.44%. Columbus McKinnon’s payout ratio is 43.24%.
In other news, VP Alan S. Korman sold 1,724 shares of the company’s stock in a transaction on Monday, March 5th. The stock was sold at an average price of $36.00, for a total transaction of $62,064.00. Following the completion of the sale, the vice president now directly owns 16,593 shares in the company, valued at approximately $597,348. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.91% of the company’s stock.
Columbus McKinnon Profile
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products serving various commercial and industrial end user markets. The Company’s products include various electric, air-powered, lever, and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders; power and motion control systems, such as alternate current (AC) and direct current (DC) drive systems, radio remote controls, push button pendant stations, brakes, and collision avoidance and power delivery subsystems.
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