Legato Capital Management LLC Has $307,000 Stock Holdings in Columbus McKinnon Corporation $CMCO

Legato Capital Management LLC trimmed its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 68.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,391 shares of the industrial products company’s stock after selling 46,177 shares during the quarter. Legato Capital Management LLC’s holdings in Columbus McKinnon were worth $307,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Simplex Trading LLC lifted its position in shares of Columbus McKinnon by 782.2% during the 2nd quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock worth $25,000 after buying an additional 1,932 shares during the period. Group One Trading LLC grew its position in Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB raised its stake in Columbus McKinnon by 66.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,893 shares during the period. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $58,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

Shares of CMCO stock opened at $18.50 on Thursday. Columbus McKinnon Corporation has a 1 year low of $11.78 and a 1 year high of $24.40. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $19.92 and its 200-day moving average is $17.08. The firm has a market capitalization of $531.67 million, a price-to-earnings ratio of 88.10 and a beta of 1.32.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The business had revenue of $258.66 million during the quarter, compared to analyst estimates of $241.60 million. During the same quarter last year, the business posted $0.56 earnings per share. Columbus McKinnon’s revenue for the quarter was up 10.5% compared to the same quarter last year. Sell-side analysts forecast that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Friday, February 13th were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, February 13th. Columbus McKinnon’s dividend payout ratio is 133.33%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CMCO. Wall Street Zen lowered shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. CJS Securities raised shares of Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. Zacks Research lowered shares of Columbus McKinnon from a “hold” rating to a “strong sell” rating in a report on Friday, February 13th. JPMorgan Chase & Co. reduced their target price on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, DA Davidson set a $20.00 price target on Columbus McKinnon in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $23.50.

Insider Transactions at Columbus McKinnon

In related news, insider Jon Adams sold 5,185 shares of the firm’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $23.28, for a total value of $120,706.80. Following the transaction, the insider owned 9,366 shares in the company, valued at $218,040.48. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.26% of the stock is currently owned by corporate insiders.

Columbus McKinnon Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.