Synovus Financial Corp Has $598,000 Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Synovus Financial Corp lessened its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 7.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 11,341 shares of the industrial products company’s stock after selling 976 shares during the period. Synovus Financial Corp’s holdings in Columbus McKinnon were worth $598,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. grew its holdings in Columbus McKinnon by 5.8% during the 1st quarter. BlackRock Inc. now owns 1,934,032 shares of the industrial products company’s stock worth $102,040,000 after acquiring an additional 106,581 shares during the period. Lazard Asset Management LLC grew its holdings in Columbus McKinnon by 13.3% during the 4th quarter. Lazard Asset Management LLC now owns 1,168,966 shares of the industrial products company’s stock worth $44,935,000 after acquiring an additional 137,563 shares during the period. Lord Abbett & CO. LLC grew its holdings in Columbus McKinnon by 140.1% during the 1st quarter. Lord Abbett & CO. LLC now owns 884,551 shares of the industrial products company’s stock worth $46,669,000 after acquiring an additional 516,213 shares during the period. FMR LLC grew its holdings in Columbus McKinnon by 35.8% during the 1st quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock worth $21,853,000 after acquiring an additional 167,700 shares during the period. Finally, Neumeier Poma Investment Counsel LLC grew its holdings in Columbus McKinnon by 3.1% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 566,650 shares of the industrial products company’s stock worth $21,782,000 after acquiring an additional 16,875 shares during the period. 81.81% of the stock is owned by hedge funds and other institutional investors.

CMCO opened at $49.49 on Friday. The company has a market cap of $1.40 billion, a PE ratio of 133.76, a P/E/G ratio of 1.75 and a beta of 1.33. Columbus McKinnon Co. has a 12 month low of $28.98 and a 12 month high of $57.06. The company has a fifty day moving average of $52.14. The company has a quick ratio of 1.80, a current ratio of 2.40 and a debt-to-equity ratio of 0.46.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, May 25th. The industrial products company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.01). Columbus McKinnon had a net margin of 1.40% and a return on equity of 5.68%. The company had revenue of $186.20 million during the quarter, compared to the consensus estimate of $183.53 million. As a group, equities research analysts predict that Columbus McKinnon Co. will post 2.35 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 13th. Shareholders of record on Monday, May 3rd were paid a $0.06 dividend. The ex-dividend date was Friday, April 30th. This represents a $0.24 annualized dividend and a yield of 0.48%. Columbus McKinnon’s payout ratio is currently 20.69%.

A number of equities analysts have recently weighed in on the stock. Barrington Research lifted their price target on shares of Columbus McKinnon from $67.00 to $78.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 26th. DA Davidson raised shares of Columbus McKinnon from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $39.00 to $60.00 in a research report on Friday, February 26th. Wells Fargo & Company assumed coverage on shares of Columbus McKinnon in a research report on Monday, May 3rd. They set an “overweight” rating and a $70.00 price target on the stock. TheStreet raised shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, February 16th. Finally, Zacks Investment Research cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Monday, May 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $58.33.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions to ergonomically move, lift, position, and secure materials worldwide. It offers material handling equipment, such as electric and air hoists, manual hoists, trolleys, and winches; crane systems, including crane components, crane kits, enclosed track rail systems, mobile workstation and jib cranes, lift assists, and fall protection systems; rigging equipment comprising below-the-hook lifters, wire grips, hooks, shackles, chains, forestry and hand tools, lifting slings, lashing systems, tie-downs, and load binders; and power fluid transfer technology, such as rotary unions and swivel joints.

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

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