Columbus McKinnon Co. (NASDAQ:CMCO) Shares Acquired by Ellsworth Advisors LLC

Ellsworth Advisors LLC grew its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,508 shares of the industrial products company’s stock after purchasing an additional 3,345 shares during the period. Ellsworth Advisors LLC’s holdings in Columbus McKinnon were worth $4,195,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CMCO. Advisor Group Holdings Inc. lifted its stake in shares of Columbus McKinnon by 51.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 2,525 shares of the industrial products company’s stock valued at $107,000 after purchasing an additional 855 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Columbus McKinnon by 31.0% in the 1st quarter. JPMorgan Chase & Co. now owns 144,389 shares of the industrial products company’s stock valued at $6,122,000 after purchasing an additional 34,149 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Columbus McKinnon by 36.9% in the 1st quarter. Raymond James & Associates now owns 58,377 shares of the industrial products company’s stock valued at $2,475,000 after purchasing an additional 15,730 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Columbus McKinnon by 3.6% in the 1st quarter. Bank of New York Mellon Corp now owns 142,741 shares of the industrial products company’s stock valued at $6,051,000 after purchasing an additional 5,017 shares in the last quarter. Finally, US Bancorp DE lifted its stake in shares of Columbus McKinnon by 27.6% in the 1st quarter. US Bancorp DE now owns 15,359 shares of the industrial products company’s stock valued at $651,000 after purchasing an additional 3,321 shares in the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CMCO shares. DA Davidson boosted their price target on Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 5th. TheStreet raised Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, January 2nd. Finally, StockNews.com lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th.

Columbus McKinnon Stock Up 1.0 %

Columbus McKinnon stock traded up $0.42 during midday trading on Friday, hitting $44.63. 154,791 shares of the company were exchanged, compared to its average volume of 112,592. The company’s fifty day moving average price is $41.35 and its 200-day moving average price is $37.47. Columbus McKinnon Co. has a fifty-two week low of $30.29 and a fifty-two week high of $44.97. The company has a market cap of $1.28 billion, a PE ratio of 26.41 and a beta of 1.28. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 1.16.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Columbus McKinnon had a return on equity of 9.88% and a net margin of 4.86%. The company had revenue of $254.14 million for the quarter, compared to analyst estimates of $254.00 million. During the same period in the prior year, the company posted $0.72 EPS. On average, research analysts predict that Columbus McKinnon Co. will post 2.95 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Shareholders of record on Friday, May 3rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Thursday, May 2nd. Columbus McKinnon’s payout ratio is 16.57%.

Insider Buying and Selling at Columbus McKinnon

In other news, SVP Lara Mario Y. Ramos sold 9,071 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now directly owns 12,266 shares in the company, valued at approximately $472,241. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Lara Mario Y. Ramos sold 9,071 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now directly owns 12,266 shares in the company, valued at approximately $472,241. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory P. Rustowicz sold 9,461 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $41.44, for a total value of $392,063.84. Following the completion of the sale, the chief financial officer now owns 79,012 shares of the company’s stock, valued at $3,274,257.28. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by corporate insiders.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.