ClariVest Asset Management LLC lowered its stake in Columbus McKinnon Corp. (NASDAQ:CMCO) by 24.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 45,038 shares of the industrial products company’s stock after selling 14,200 shares during the quarter. ClariVest Asset Management LLC owned about 0.19% of Columbus McKinnon worth $1,781,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Municipal Employees Retirement System of Michigan bought a new stake in Columbus McKinnon in the second quarter valued at $643,000. Skylands Capital LLC grew its position in Columbus McKinnon by 9.7% in the second quarter. Skylands Capital LLC now owns 164,450 shares of the industrial products company’s stock valued at $7,131,000 after acquiring an additional 14,550 shares during the period. Eqis Capital Management Inc. bought a new stake in Columbus McKinnon in the second quarter valued at $204,000. WealthTrust Axiom LLC bought a new stake in Columbus McKinnon in the second quarter valued at $216,000. Finally, First Trust Advisors LP grew its position in Columbus McKinnon by 73.5% in the second quarter. First Trust Advisors LP now owns 34,152 shares of the industrial products company’s stock valued at $1,481,000 after acquiring an additional 14,471 shares during the period. Institutional investors and hedge funds own 95.57% of the company’s stock.

Columbus McKinnon stock opened at $34.60 on Tuesday. The company has a current ratio of 1.85, a quick ratio of 1.05 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $843.25 million, a price-to-earnings ratio of 15.11 and a beta of 1.75. Columbus McKinnon Corp. has a 52 week low of $29.70 and a 52 week high of $45.85.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, October 30th. The industrial products company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.08. The company had revenue of $217.14 million for the quarter, compared to analyst estimates of $218.91 million. Columbus McKinnon had a return on equity of 13.88% and a net margin of 2.49%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. Research analysts anticipate that Columbus McKinnon Corp. will post 2.64 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 19th. Shareholders of record on Friday, November 9th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Thursday, November 8th. Columbus McKinnon’s dividend payout ratio is currently 9.95%.

A number of analysts have weighed in on the company. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Zacks Investment Research upgraded Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Thursday, August 2nd. BidaskClub cut Columbus McKinnon from a “sell” rating to a “strong sell” rating in a research report on Thursday, October 4th. Finally, Craig Hallum set a $54.00 price target on Columbus McKinnon and gave the company a “buy” rating in a research report on Tuesday, October 30th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Columbus McKinnon has an average rating of “Buy” and an average price target of $47.00.

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Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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

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