Punch & Associates Investment Management Inc. grew its position in Columbus McKinnon Corp. (NASDAQ:CMCO) by 4.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 373,737 shares of the industrial products company’s stock after buying an additional 14,531 shares during the period. Columbus McKinnon accounts for approximately 1.1% of Punch & Associates Investment Management Inc.’s investment portfolio, making the stock its 18th largest holding. Punch & Associates Investment Management Inc.’s holdings in Columbus McKinnon were worth $12,838,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Columbus McKinnon by 1.0% in the 4th quarter. BlackRock Inc. now owns 1,568,705 shares of the industrial products company’s stock valued at $47,281,000 after buying an additional 15,668 shares during the period. Acadian Asset Management LLC increased its stake in shares of Columbus McKinnon by 219.6% in the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after buying an additional 1,298 shares during the period. Millennium Management LLC increased its stake in shares of Columbus McKinnon by 78.9% in the 4th quarter. Millennium Management LLC now owns 123,494 shares of the industrial products company’s stock valued at $3,722,000 after buying an additional 54,447 shares during the period. Victory Capital Management Inc. increased its stake in shares of Columbus McKinnon by 1.1% in the 4th quarter. Victory Capital Management Inc. now owns 44,045 shares of the industrial products company’s stock valued at $1,328,000 after buying an additional 460 shares during the period. Finally, Ceredex Value Advisors LLC acquired a new stake in shares of Columbus McKinnon in the 4th quarter valued at $3,017,000. 99.62% of the stock is owned by institutional investors.
Shares of NASDAQ:CMCO traded down $0.26 during midday trading on Friday, hitting $38.78. The company had a trading volume of 734 shares, compared to its average volume of 111,222. Columbus McKinnon Corp. has a 12 month low of $27.66 and a 12 month 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 firm has a market capitalization of $903.24 million, a P/E ratio of 14.16 and a beta of 1.75.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.11. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The business had revenue of $216.70 million for the quarter, compared to analyst estimates of $210.59 million. During the same period last year, the company earned $0.51 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Columbus McKinnon Corp. will post 3 earnings per share for the current year.
Several equities research analysts have recently commented on CMCO shares. BidaskClub cut Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Zacks Investment Research raised Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, ValuEngine cut Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. Columbus McKinnon has a consensus rating of “Hold” and an average price target of $44.50.
In other news, CFO Gregory P. Rustowicz sold 11,942 shares of the firm’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $38.92, for a total value of $464,782.64. Following the transaction, the chief financial officer now directly owns 63,100 shares in the company, valued at approximately $2,455,852. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Peter M. Mccormick sold 11,415 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $38.75, for a total value of $442,331.25. Following the completion of the transaction, the vice president now owns 67,050 shares in the company, valued at $2,598,187.50. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock worth $1,417,153 over the last 90 days. 2.27% of the stock is 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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