Quantbot Technologies LP Sells 50,653 Shares of Columbus McKinnon Corporation $CMCO

Quantbot Technologies LP lowered its holdings in Columbus McKinnon Corporation (NASDAQ:CMCO) by 73.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,461 shares of the industrial products company’s stock after selling 50,653 shares during the quarter. Quantbot Technologies LP owned about 0.06% of Columbus McKinnon worth $265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMCO. SummerHaven Investment Management LLC bought a new stake in shares of Columbus McKinnon during the third quarter worth about $735,000. Savant Capital LLC bought a new position in Columbus McKinnon in the 2nd quarter valued at about $320,000. Assenagon Asset Management S.A. acquired a new position in Columbus McKinnon during the 3rd quarter valued at about $8,040,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Columbus McKinnon during the 2nd quarter valued at about $1,480,000. Finally, RBF Capital LLC increased its holdings in Columbus McKinnon by 241.8% during the 2nd quarter. RBF Capital LLC now owns 137,200 shares of the industrial products company’s stock worth $2,095,000 after purchasing an additional 97,060 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $16.72 on Wednesday. The firm has a market cap of $480.53 million, a price-to-earnings ratio of 79.62 and a beta of 1.32. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.99 and a current ratio of 1.83. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $24.40. The firm’s 50-day simple moving average is $19.88 and its two-hundred day simple moving average is $17.17.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The firm had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. During the same period in the prior year, the firm earned $0.56 EPS. The company’s revenue was up 10.5% compared to the same quarter last year. As a group, equities analysts forecast that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Friday, February 13th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 13th. Columbus McKinnon’s dividend payout ratio is 133.33%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. DA Davidson set a $20.00 target price on Columbus McKinnon in a report on Thursday, February 12th. JPMorgan Chase & Co. lowered their price target on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Zacks Research cut Columbus McKinnon from a “hold” rating to a “strong sell” rating in a research note on Friday, February 13th. Wall Street Zen downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. Finally, CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $23.50.

Insiders Place Their Bets

In other Columbus McKinnon news, insider Jon Adams sold 5,185 shares of the firm’s stock in a transaction on Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total value of $120,706.80. Following the completion of the sale, the insider directly owned 9,366 shares of the company’s stock, valued at $218,040.48. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 2.26% of the company’s stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.