Columbus McKinnon Corporation (CMCO) Stake Boosted by American Century Companies Inc.
American Century Companies Inc. lifted its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 14.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,567 shares of the industrial products company’s stock after purchasing an additional 3,426 shares during the quarter. American Century Companies Inc. owned about 0.12% of Columbus McKinnon worth $1,006,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the company. WealthTrust Axiom LLC acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $227,000. Skylands Capital LLC acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $3,492,000. Shell Asset Management Co. acquired a new stake in Columbus McKinnon in the 3rd quarter valued at about $832,000. Susquehanna International Group LLP acquired a new stake in Columbus McKinnon in the 2nd quarter valued at about $1,165,000. Finally, The Manufacturers Life Insurance Company grew its stake in Columbus McKinnon by 2.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 16,336 shares of the industrial products company’s stock valued at $415,000 after acquiring an additional 414 shares during the last quarter. 85.14% of the stock is currently owned by institutional investors and hedge funds.
A number of equities research analysts recently commented on CMCO shares. Roth Capital set a $36.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a research note on Thursday, August 3rd. Zacks Investment Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating and set a $37.00 price objective on the stock in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $37.00.
Columbus McKinnon Corporation (NASDAQ:CMCO) opened at $40.00 on Thursday. The stock has a market cap of $924.31, a PE ratio of 23.92 and a beta of 1.92. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 0.89. Columbus McKinnon Corporation has a 1-year low of $22.88 and a 1-year high of $41.49.
Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.06. The company had revenue of $212.80 million for the quarter, compared to analyst estimates of $203.27 million. Columbus McKinnon had a net margin of 2.65% and a return on equity of 10.95%. The firm’s quarterly revenue was up 40.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.36 EPS. equities research analysts predict that Columbus McKinnon Corporation will post 1.95 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 20th. Shareholders of record on Friday, November 10th were issued a $0.04 dividend. The ex-dividend date was Thursday, November 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.40%. Columbus McKinnon’s dividend payout ratio (DPR) is 18.82%.
In other Columbus McKinnon news, VP Mark R. Paradowski sold 3,906 shares of the company’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $39.96, for a total value of $156,083.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Gene P. Buer sold 30,529 shares of the company’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $38.00, for a total transaction of $1,160,102.00. Following the completion of the transaction, the vice president now owns 17,136 shares in the company, valued at $651,168. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 36,935 shares of company stock worth $1,398,511. 3.91% of the stock is owned by insiders.
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