California Public Employees Retirement System grew its position in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 32.2% during the first quarter, HoldingsChannel reports. The firm owned 54,950 shares of the industrial products company’s stock after purchasing an additional 13,388 shares during the period. California Public Employees Retirement System’s holdings in Columbus McKinnon were worth $1,888,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in shares of Columbus McKinnon by 4.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,573,627 shares of the industrial products company’s stock worth $47,429,000 after acquiring an additional 60,612 shares during the last quarter. BlackRock Inc. raised its position in shares of Columbus McKinnon by 1.0% during the fourth quarter. BlackRock Inc. now owns 1,568,705 shares of the industrial products company’s stock worth $47,281,000 after acquiring an additional 15,668 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of Columbus McKinnon by 17.4% during the fourth quarter. Macquarie Group Ltd. now owns 1,503,022 shares of the industrial products company’s stock worth $45,301,000 after acquiring an additional 222,399 shares during the last quarter. Lord Abbett & CO. LLC raised its position in shares of Columbus McKinnon by 0.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 587,814 shares of the industrial products company’s stock worth $17,717,000 after acquiring an additional 1,500 shares during the last quarter. Finally, FMR LLC raised its position in shares of Columbus McKinnon by 14.7% during the fourth quarter. FMR LLC now owns 468,500 shares of the industrial products company’s stock worth $14,121,000 after acquiring an additional 60,171 shares during the last quarter. 99.62% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on CMCO. Zacks Investment Research upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. BidaskClub upgraded Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research report on Tuesday. Finally, ValuEngine upgraded Columbus McKinnon from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $44.50.

Shares of CMCO opened at $39.00 on Thursday. Columbus McKinnon Corp. has a 1 year low of $27.66 and a 1 year high of $45.85. The company has a quick ratio of 1.02, a current ratio of 1.72 and a debt-to-equity ratio of 0.55. The stock has a market cap of $910.41 million, a PE ratio of 14.20 and a beta of 1.75.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. The business had revenue of $216.70 million during the quarter, compared to the consensus estimate of $210.59 million. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.51 earnings per share. On average, research analysts anticipate that Columbus McKinnon Corp. will post 3 EPS for the current fiscal year.

In other Columbus McKinnon news, VP Peter M. Mccormick sold 5,990 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $36.63, for a total value of $219,413.70. Following the completion of the sale, the vice president now directly owns 75,040 shares in the company, valued at $2,748,715.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Peter M. Mccormick sold 7,500 shares of Columbus McKinnon stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $38.75, for a total value of $290,625.00. Following the completion of the sale, the vice president now owns 67,050 shares of the company’s stock, valued at $2,598,187.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,905 shares of company stock valued at $952,370. 2.27% of the stock is currently owned by corporate insiders.

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About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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

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