Columbus McKinnon Corporation $CMCO Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 14.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 390,026 shares of the industrial products company’s stock after selling 68,558 shares during the period. Prudential Financial Inc. owned 1.36% of Columbus McKinnon worth $5,956,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Invesco Ltd. increased its holdings in Columbus McKinnon by 177.5% in the first quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company’s stock valued at $21,388,000 after buying an additional 808,110 shares during the last quarter. Stanley Capital Management LLC acquired a new position in shares of Columbus McKinnon in the 1st quarter worth approximately $8,888,000. Palogic Value Management L.P. increased its holdings in shares of Columbus McKinnon by 514.8% in the 1st quarter. Palogic Value Management L.P. now owns 501,585 shares of the industrial products company’s stock valued at $8,492,000 after acquiring an additional 420,000 shares during the last quarter. Hotchkis & Wiley Capital Management LLC acquired a new stake in shares of Columbus McKinnon during the 1st quarter valued at approximately $4,877,000. Finally, Nantahala Capital Management LLC bought a new position in Columbus McKinnon during the first quarter worth $3,386,000. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Down 0.7%

Columbus McKinnon stock opened at $16.42 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.01 and a current ratio of 1.85. Columbus McKinnon Corporation has a one year low of $11.78 and a one year high of $41.05. The company has a 50-day simple moving average of $15.27 and a 200-day simple moving average of $15.31. The firm has a market capitalization of $471.71 million, a P/E ratio of -30.41 and a beta of 1.30.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. Columbus McKinnon had a negative net margin of 1.63% and a positive return on equity of 7.62%. The firm had revenue of $166.55 million during the quarter. As a group, equities analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 17th. Investors of record on Friday, November 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, November 7th. Columbus McKinnon’s dividend payout ratio is 200.00%.

Wall Street Analyst Weigh In

CMCO has been the subject of several recent research reports. Wall Street Zen upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Columbus McKinnon in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Reduce” and a consensus price target of $35.00.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.