Bank of America Corp DE raised its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 22.2% during the first quarter, Holdings Channel reports. The institutional investor owned 60,745 shares of the industrial products company’s stock after buying an additional 11,037 shares during the period. Bank of America Corp DE’s holdings in Columbus McKinnon Corporation were worth $1,507,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in Columbus McKinnon Corporation by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock valued at $151,000 after buying an additional 91 shares in the last quarter. Highbridge Capital Management LLC acquired a new stake in Columbus McKinnon Corporation during the fourth quarter valued at about $212,000. Trexquant Investment LP increased its stake in Columbus McKinnon Corporation by 42.9% in the first quarter. Trexquant Investment LP now owns 11,164 shares of the industrial products company’s stock valued at $277,000 after buying an additional 3,352 shares in the last quarter. American International Group Inc. increased its stake in Columbus McKinnon Corporation by 7.1% in the first quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock valued at $297,000 after buying an additional 795 shares in the last quarter. Finally, Alambic Investment Management L.P. increased its stake in Columbus McKinnon Corporation by 26.8% in the first quarter. Alambic Investment Management L.P. now owns 12,425 shares of the industrial products company’s stock valued at $308,000 after buying an additional 2,625 shares in the last quarter. Institutional investors own 84.05% of the company’s stock.

Shares of Columbus McKinnon Corporation (CMCO) traded up 0.64% on Wednesday, hitting $31.65. The stock had a trading volume of 10,610 shares. The firm’s 50-day moving average is $27.44 and its 200 day moving average is $26.32. The stock has a market cap of $716.08 million, a P/E ratio of 47.95 and a beta of 1.92. Columbus McKinnon Corporation has a 1-year low of $16.28 and a 1-year high of $33.12.

Columbus McKinnon Corporation (NASDAQ:CMCO) last posted its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.32 by $0.23. The firm had revenue of $203.70 million during 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 company’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.32 EPS. Equities analysts forecast that Columbus McKinnon Corporation will post $1.90 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 21st. Shareholders of record on Friday, August 11th will be issued a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.16 annualized dividend and a yield of 0.51%. Columbus McKinnon Corporation’s dividend payout ratio (DPR) is 25.00%.

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Several research firms have issued reports on CMCO. TheStreet upgraded Columbus McKinnon Corporation from a “c” rating to a “b” rating in a report on Tuesday, August 1st. Roth Capital set a $36.00 target price on Columbus McKinnon Corporation and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Columbus McKinnon Corporation from a “hold” rating to a “strong-buy” rating and set a $37.00 target price for the company 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, BidaskClub lowered Columbus McKinnon Corporation from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $34.50.

In other Columbus McKinnon Corporation news, VP Alan S. Korman sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $27.13, for a total value of $81,390.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Gene P. Buer sold 28,795 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $32.67, for a total value of $940,732.65. Following the completion of the transaction, the vice president now directly owns 24,522 shares of the company’s stock, valued at approximately $801,133.74. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,159 shares of company stock valued at $3,301,082. Insiders own 3.91% of the company’s stock.

Columbus McKinnon Corporation Company Profile

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

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