Bank of New York Mellon Corp reduced its holdings in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 243,579 shares of the industrial products company’s stock after selling 11,749 shares during the quarter. Bank of New York Mellon Corp owned 1.05% of Columbus McKinnon worth $10,561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sei Investments Co. lifted its holdings in shares of Columbus McKinnon by 10.9% during the second quarter. Sei Investments Co. now owns 94,223 shares of the industrial products company’s stock valued at $4,086,000 after purchasing an additional 9,290 shares in the last quarter. Royal Bank of Canada lifted its holdings in shares of Columbus McKinnon by 6.5% during the first quarter. Royal Bank of Canada now owns 2,959,031 shares of the industrial products company’s stock valued at $106,052,000 after purchasing an additional 180,859 shares in the last quarter. NJ State Employees Deferred Compensation Plan bought a new position in shares of Columbus McKinnon during the second quarter valued at $434,000. Russell Investments Group Ltd. lifted its holdings in shares of Columbus McKinnon by 15.9% during the first quarter. Russell Investments Group Ltd. now owns 42,493 shares of the industrial products company’s stock valued at $1,523,000 after purchasing an additional 5,838 shares in the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Columbus McKinnon during the first quarter valued at $365,000. 95.40% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on CMCO. Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Friday, June 1st. TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b” rating in a research report on Wednesday, May 30th. ValuEngine upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Tuesday, September 4th. Finally, BidaskClub cut Columbus McKinnon from a “hold” rating to a “sell” rating in a research report on Saturday, July 14th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Columbus McKinnon has an average rating of “Buy” and a consensus target price of $48.75.

Columbus McKinnon stock opened at $42.66 on Tuesday. The firm has a market cap of $998.38 million, a P/E ratio of 21.22 and a beta of 1.88. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.84 and a quick ratio of 1.04. Columbus McKinnon Corp. has a one year low of $34.02 and a one year high of $45.85.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, July 31st. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.14. The company had revenue of $224.99 million during the quarter, compared to analysts’ expectations of $219.22 million. Columbus McKinnon had a return on equity of 13.04% and a net margin of 2.10%. Columbus McKinnon’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.55 earnings per share. research analysts anticipate that Columbus McKinnon Corp. will post 2.59 earnings per share for the current year.

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.

See Also: Risk Tolerance

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

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