Legato Capital Management LLC Has $2.02 Million Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Legato Capital Management LLC lifted its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 68.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,294 shares of the industrial products company’s stock after acquiring an additional 21,979 shares during the period. Legato Capital Management LLC owned approximately 0.19% of Columbus McKinnon worth $2,022,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in Columbus McKinnon by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock worth $505,000 after purchasing an additional 646 shares during the period. SG Americas Securities LLC bought a new stake in shares of Columbus McKinnon in the 3rd quarter valued at $244,000. Inspire Investing LLC raised its stake in Columbus McKinnon by 13.9% during the 3rd quarter. Inspire Investing LLC now owns 11,561 shares of the industrial products company’s stock worth $416,000 after buying an additional 1,414 shares during the period. Wedge Capital Management L L P NC raised its stake in Columbus McKinnon by 14.3% during the 3rd quarter. Wedge Capital Management L L P NC now owns 41,917 shares of the industrial products company’s stock worth $1,509,000 after buying an additional 5,243 shares during the period. Finally, Creative Planning bought a new position in Columbus McKinnon during the third quarter worth about $369,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CMCO. DA Davidson lowered Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Tuesday. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday.

Columbus McKinnon Stock Down 41.2 %

CMCO stock opened at $20.87 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.04 and a quick ratio of 1.16. The stock has a market capitalization of $598.76 million, a P/E ratio of 39.38 and a beta of 1.22. Columbus McKinnon Co. has a fifty-two week low of $19.61 and a fifty-two week high of $45.84. The business has a 50-day moving average of $36.65 and a 200-day moving average of $35.18.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 9.20% and a net margin of 1.51%. On average, sell-side analysts anticipate that Columbus McKinnon Co. will post 2.98 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.34%. Columbus McKinnon’s dividend payout ratio is 52.83%.

Insider Activity

In related news, Director Christopher J. Stephens acquired 1,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $37.34 per share, with a total value of $37,340.00. Following the acquisition, the director now owns 6,014 shares in the company, valued at $224,562.76. This represents a 19.94 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.