JPMorgan Chase & Co. Has $4.42 Million Stake in Columbus McKinnon Corporation (CMCO)

JPMorgan Chase & Co. lowered its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 43.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 173,949 shares of the industrial products company’s stock after selling 135,323 shares during the quarter. JPMorgan Chase & Co. owned about 0.77% of Columbus McKinnon Corporation worth $4,422,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its position in shares of Columbus McKinnon Corporation by 1.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock valued at $151,000 after buying an additional 91 shares in the last quarter. American International Group Inc. increased its holdings in Columbus McKinnon Corporation by 7.1% during the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 795 shares in the last quarter. Gotham Asset Management LLC bought a new position in Columbus McKinnon Corporation during the 1st quarter worth about $341,000. Spark Investment Management LLC bought a new position in Columbus McKinnon Corporation during the 1st quarter worth about $516,000. Finally, American Century Companies Inc. increased its holdings in Columbus McKinnon Corporation by 2.7% during the 2nd quarter. American Century Companies Inc. now owns 23,141 shares of the industrial products company’s stock worth $588,000 after purchasing an additional 612 shares in the last quarter. 86.37% of the stock is currently owned by institutional investors.

A number of equities analysts have recently commented on CMCO shares. BidaskClub downgraded shares of Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 13th. Roth Capital began coverage on shares of Columbus McKinnon Corporation in a research note on Friday, July 28th. They issued a “buy” rating and a $33.00 target price for the company. ValuEngine downgraded shares of Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. TheStreet upgraded shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research upgraded shares of Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective for the company in a research report on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. Columbus McKinnon Corporation presently has a consensus rating of “Hold” and a consensus target price of $34.50.

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) opened at 37.67 on Tuesday. Columbus McKinnon Corporation has a 52-week low of $16.86 and a 52-week high of $38.64. The stock’s 50 day moving average is $35.14 and its 200 day moving average is $28.87. The company has a market capitalization of $852.28 million, a P/E ratio of 57.08 and a beta of 1.90.

Columbus McKinnon Corporation (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.23. The business had revenue of $203.70 million for the quarter, compared to analysts’ expectations of $190.62 million. Columbus McKinnon Corporation had a net margin of 2.06% and a return on equity of 10.30%. The business’s revenue was up 36.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.32 earnings per share. Equities analysts expect that Columbus McKinnon Corporation will post $1.90 EPS for the current year.

In related news, VP Alan S. Korman sold 2,500 shares of the company’s stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $32.93, for a total value of $82,325.00. Following the completion of the sale, the vice president now directly owns 13,121 shares of the company’s stock, valued at $432,074.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Timothy T. Tevens sold 43,845 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was sold at an average price of $31.84, for a total transaction of $1,396,024.80. Following the completion of the sale, the director now directly owns 293,536 shares of the company’s stock, valued at $9,346,186.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 167,932 shares of company stock worth $5,416,512. Company insiders own 3.91% of the company’s stock.

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Columbus McKinnon Corporation Profile

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

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