California Public Employees Retirement System reduced its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 41.9% during the first quarter, Holdings Channel reports. The fund owned 47,200 shares of the industrial products company’s stock after selling 34,000 shares during the period. California Public Employees Retirement System’s holdings in Columbus McKinnon Corporation were worth $1,172,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Envestnet Asset Management Inc. boosted 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 worth $151,000 after buying an additional 91 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in Columbus McKinnon Corporation during the fourth quarter worth approximately $212,000. Trexquant Investment LP boosted 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 worth $277,000 after buying an additional 3,352 shares during the last quarter. American International Group Inc. boosted 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 worth $297,000 after buying an additional 795 shares during the last quarter. Finally, Alambic Investment Management L.P. boosted 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 worth $308,000 after buying an additional 2,625 shares during the last quarter. 84.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Columbus McKinnon Corporation (CMCO) opened at 31.56 on Thursday. The stock has a market cap of $714.05 million, a PE ratio of 47.82 and a beta of 1.92. The company’s 50-day moving average is $26.77 and its 200-day moving average is $26.22. Columbus McKinnon Corporation has a 52-week low of $16.28 and a 52-week high of $33.12.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.23. Columbus McKinnon Corporation had a net margin of 2.06% and a return on equity of 10.30%. The company had revenue of $203.70 million during the quarter, compared to the consensus estimate of $190.62 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The firm’s quarterly revenue was up 36.7% on a year-over-year basis. Equities analysts anticipate 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. Investors of record on Friday, August 11th will be paid a $0.04 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.50%. Columbus McKinnon Corporation’s dividend payout ratio is currently 25.00%.

WARNING: “California Public Employees Retirement System Decreases Stake in Columbus McKinnon Corporation (CMCO)” was originally published by Watch List News and is owned by of Watch List News. If you are viewing this article on another domain, it was illegally copied and republished in violation of U.S. and international trademark and copyright law. The legal version of this article can be viewed at https://www.watchlistnews.com/california-public-employees-retirement-system-decreases-stake-in-columbus-mckinnon-corporation-cmco/1470469.html.

A number of equities research analysts recently commented on the stock. Roth Capital set a $36.00 target price on shares of Columbus McKinnon Corporation and gave the company a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research raised shares of 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. BidaskClub raised shares of Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 19th. TheStreet cut shares of Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a research report on Wednesday, May 31st. Finally, ValuEngine cut shares of Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Columbus McKinnon Corporation presently has a consensus rating of “Buy” and an average target price of $34.50.

In other news, CEO Timothy T. Tevens sold 8,770 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $32.15, for a total transaction of $281,955.50. Following the completion of the sale, the chief executive officer now owns 293,536 shares in the company, valued at approximately $9,437,182.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Alan S. Korman sold 3,000 shares of the business’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 transaction of $81,390.00. The disclosure for this sale can be found here. Insiders sold 28,192 shares of company stock valued at $880,515 in the last quarter. 3.91% of the stock is owned by insiders.

Columbus McKinnon Corporation Company Profile

Want to see what other hedge funds are holding CMCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbus McKinnon Corporation (NASDAQ:CMCO).

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

Receive News & Ratings for Columbus McKinnon Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Columbus McKinnon Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.