Columbus McKinnon Corporation (NASDAQ:CMCO)’s share price hit a new 52-week high on Monday . The stock traded as high as $35.32 and last traded at $35.39, with a volume of 86,363 shares. The stock had previously closed at $34.44.

Several brokerages have recently weighed in on CMCO. ValuEngine raised shares of Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research raised shares of Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 price target for the company in a research note on Thursday, August 3rd. TheStreet raised shares of Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Roth Capital set a $36.00 price target on shares of Columbus McKinnon Corporation and gave the stock a “buy” rating in a research note on Thursday, August 3rd. Finally, BidaskClub cut shares of Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $34.50.

The firm has a 50-day moving average of $32.24 and a 200 day moving average of $27.28. The firm has a market capitalization of $801.81 million, a P/E ratio of 53.695 and a beta of 1.87.

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

In related news, VP Kurt F. Wozniak sold 13,205 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $31.64, for a total transaction of $417,806.20. Following the completion of the sale, the vice president now owns 25,426 shares in the company, valued at $804,478.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Timothy T. Tevens sold 45,172 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $32.76, for a total value of $1,479,834.72. Following the sale, the director now owns 293,536 shares of the company’s stock, valued at approximately $9,616,239.36. The disclosure for this sale can be found here. Insiders have sold 167,932 shares of company stock worth $5,416,512 over the last ninety days. 3.91% of the stock is owned by insiders.

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in Columbus McKinnon Corporation by 4.7% during the second quarter. Royal Bank of Canada now owns 2,608,542 shares of the industrial products company’s stock worth $66,309,000 after buying an additional 118,139 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Columbus McKinnon Corporation by 8.6% during the second quarter. Dimensional Fund Advisors LP now owns 1,373,168 shares of the industrial products company’s stock worth $34,906,000 after buying an additional 108,359 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Columbus McKinnon Corporation by 0.6% during the second quarter. Macquarie Group Ltd. now owns 850,186 shares of the industrial products company’s stock worth $21,612,000 after buying an additional 4,726 shares in the last quarter. Vanguard Group Inc. grew its holdings in Columbus McKinnon Corporation by 5.3% during the second quarter. Vanguard Group Inc. now owns 820,712 shares of the industrial products company’s stock worth $20,863,000 after buying an additional 41,410 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in Columbus McKinnon Corporation by 8.7% during the second quarter. Northern Trust Corp now owns 495,033 shares of the industrial products company’s stock worth $12,585,000 after buying an additional 39,578 shares in the last quarter. Institutional investors and hedge funds own 86.37% of the company’s stock.

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About Columbus McKinnon Corporation

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