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

Quantbot Technologies LP cut its holdings in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 73.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 18,461 shares of the industrial products company’s stock after selling 50,653 shares during the quarter. Quantbot Technologies LP’s holdings in Columbus McKinnon were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. purchased a new position in shares of Columbus McKinnon in the third quarter valued at $8,040,000. AQR Capital Management LLC lifted its holdings in Columbus McKinnon by 286.0% during the 2nd quarter. AQR Capital Management LLC now owns 476,656 shares of the industrial products company’s stock worth $7,279,000 after purchasing an additional 353,158 shares in the last quarter. Man Group plc boosted its stake in Columbus McKinnon by 1,036.7% in the 2nd quarter. Man Group plc now owns 254,477 shares of the industrial products company’s stock worth $3,886,000 after purchasing an additional 232,090 shares during the period. Cubist Systematic Strategies LLC boosted its stake in Columbus McKinnon by 375.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 269,888 shares of the industrial products company’s stock worth $4,121,000 after purchasing an additional 213,122 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Columbus McKinnon by 216.3% during the 2nd quarter. Qube Research & Technologies Ltd now owns 237,159 shares of the industrial products company’s stock valued at $3,621,000 after buying an additional 162,179 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of the business’s stock in a transaction that occurred 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 owned 9,366 shares in the company, valued at $218,040.48. The trade was a 35.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.26% of the company’s stock.

Columbus McKinnon Stock Up 0.2%

Shares of NASDAQ:CMCO opened at $16.72 on Wednesday. The firm has a market capitalization of $480.53 million, a PE 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 has a fifty day moving average of $19.88 and a 200 day moving average of $17.17.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly 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 return on equity of 7.41% and a net margin of 0.60%.The business had revenue of $258.66 million for the quarter, compared to the consensus estimate of $241.60 million. During the same quarter last year, the business posted $0.56 earnings per share. The company’s revenue for the quarter was up 10.5% on a year-over-year basis. As a group, research analysts anticipate that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Wall Street Analysts Forecast Growth

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

About Columbus McKinnon

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.