Foundry Partners LLC Cuts Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Foundry Partners LLC trimmed its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 19.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 98,165 shares of the industrial products company’s stock after selling 23,915 shares during the quarter. Foundry Partners LLC owned about 0.34% of Columbus McKinnon worth $3,830,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of Columbus McKinnon by 1.0% during the third quarter. Vanguard Group Inc. now owns 1,509,323 shares of the industrial products company’s stock worth $52,690,000 after acquiring an additional 14,621 shares during the last quarter. Neumeier Poma Investment Counsel LLC increased its stake in Columbus McKinnon by 2.9% during the 3rd quarter. Neumeier Poma Investment Counsel LLC now owns 511,334 shares of the industrial products company’s stock valued at $17,851,000 after purchasing an additional 14,220 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Columbus McKinnon by 9.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 428,941 shares of the industrial products company’s stock valued at $14,974,000 after purchasing an additional 35,998 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Columbus McKinnon by 2.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 352,708 shares of the industrial products company’s stock worth $12,313,000 after buying an additional 8,360 shares during the last quarter. Finally, Punch & Associates Investment Management Inc. lifted its stake in shares of Columbus McKinnon by 0.5% during the third quarter. Punch & Associates Investment Management Inc. now owns 311,015 shares of the industrial products company’s stock worth $10,858,000 after buying an additional 1,422 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CMCO. StockNews.com lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th. DA Davidson raised their price objective on Columbus McKinnon from $48.00 to $50.00 and gave the stock a “buy” rating in a research note on Monday, February 5th. Finally, TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, January 2nd.

Insider Buying and Selling

In other Columbus McKinnon news, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $41.44, for a total value of $392,063.84. Following the completion of the transaction, the chief financial officer now owns 79,012 shares of the company’s stock, valued at $3,274,257.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Columbus McKinnon news, SVP Lara Mario Y. Ramos sold 9,071 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total transaction of $349,233.50. Following the transaction, the senior vice president now directly owns 12,266 shares of the company’s stock, valued at $472,241. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $41.44, for a total value of $392,063.84. Following the completion of the sale, the chief financial officer now owns 79,012 shares in the company, valued at $3,274,257.28. The disclosure for this sale can be found here. 1.47% of the stock is currently owned by insiders.

Columbus McKinnon Trading Down 0.2 %

NASDAQ CMCO opened at $40.89 on Tuesday. The company has a fifty day moving average of $42.18 and a 200 day moving average of $38.36. The company has a market capitalization of $1.17 billion, a PE ratio of 24.20 and a beta of 1.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.92 and a quick ratio of 1.16. Columbus McKinnon Co. has a 1 year low of $30.29 and a 1 year high of $44.97.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.05. Columbus McKinnon had a return on equity of 9.88% and a net margin of 4.86%. The business had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $254.00 million. During the same quarter in the previous year, the firm posted $0.72 EPS. Research analysts forecast that Columbus McKinnon Co. will post 2.95 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.68%. The ex-dividend date is Thursday, May 2nd. Columbus McKinnon’s dividend payout ratio is currently 16.57%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.