Morgan Dempsey Capital Management LLC decreased its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,243 shares of the industrial products company’s stock after selling 1,838 shares during the period. Morgan Dempsey Capital Management LLC’s holdings in Columbus McKinnon Corporation were worth $2,091,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMCO. Renaissance Technologies LLC raised its position in shares of Columbus McKinnon Corporation by 48.4% in the fourth quarter. Renaissance Technologies LLC now owns 59,500 shares of the industrial products company’s stock valued at $1,609,000 after buying an additional 19,415 shares in the last quarter. State Street Corp raised its position in shares of Columbus McKinnon Corporation by 6.1% in the fourth quarter. State Street Corp now owns 334,187 shares of the industrial products company’s stock valued at $9,040,000 after buying an additional 19,266 shares in the last quarter. Norges Bank acquired a new position in shares of Columbus McKinnon Corporation during the fourth quarter valued at about $2,823,000. Algert Global LLC raised its position in shares of Columbus McKinnon Corporation by 3.7% in the first quarter. Algert Global LLC now owns 34,830 shares of the industrial products company’s stock valued at $864,000 after buying an additional 1,250 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in shares of Columbus McKinnon Corporation during the first quarter valued at about $3,641,000. 84.28% of the stock is currently owned by institutional investors.

Columbus McKinnon Corporation (NASDAQ:CMCO) opened at 32.54 on Wednesday. The stock has a 50 day moving average price of $26.35 and a 200-day moving average price of $26.09. Columbus McKinnon Corporation has a one year low of $16.28 and a one year high of $33.12. The firm has a market capitalization of $736.22 million, a price-to-earnings ratio of 49.30 and a beta of 1.92.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Investors of record on Friday, August 11th will be given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.49%. The ex-dividend date is Wednesday, August 9th. Columbus McKinnon Corporation’s dividend payout ratio (DPR) is presently 25.00%.

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CMCO has been the topic of several recent analyst reports. Zacks Investment Research raised Columbus McKinnon Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. BidaskClub lowered Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research report on Thursday, July 13th. Roth Capital set a $36.00 target price on Columbus McKinnon Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. ValuEngine lowered Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Finally, TheStreet lowered Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $34.50.

In related news, VP Alan S. Korman sold 3,000 shares of the business’s stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $27.13, for a total value of $81,390.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Gene P. Buer sold 10,669 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $31.66, for a total value of $337,780.54. The disclosure for this sale can be found here. Insiders sold a total of 28,192 shares of company stock worth $880,515 in the last 90 days. 3.91% of the stock is currently owned by insiders.

Columbus McKinnon Corporation Company Profile

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

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