Wells Fargo & Company MN cut its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 0.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,658 shares of the industrial products company’s stock after selling 65 shares during the period. Wells Fargo & Company MN owned approximately 0.13% of Columbus McKinnon Corporation worth $728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCO. American International Group Inc. increased its stake in shares of Columbus McKinnon Corporation by 7.1% in the 1st quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock valued at $297,000 after purchasing an additional 795 shares during the last quarter. Gotham Asset Management LLC bought a new position in shares of Columbus McKinnon Corporation in the 1st quarter valued at $341,000. American Century Companies Inc. increased its stake in shares of Columbus McKinnon Corporation by 2.7% in the 2nd quarter. American Century Companies Inc. now owns 23,141 shares of the industrial products company’s stock valued at $588,000 after purchasing an additional 612 shares during the last quarter. Bank of Montreal Can bought a new position in shares of Columbus McKinnon Corporation in the 2nd quarter valued at $790,000. Finally, Teachers Advisors LLC increased its stake in shares of Columbus McKinnon Corporation by 9.1% in the 1st quarter. Teachers Advisors LLC now owns 34,877 shares of the industrial products company’s stock valued at $866,000 after purchasing an additional 2,914 shares during the last quarter. 85.06% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Columbus McKinnon Corporation from a “hold” rating to a “buy” rating and set a $42.00 price target on the stock in a research note on Thursday, November 2nd. Roth Capital lifted their price target on Columbus McKinnon Corporation from $36.00 to $41.00 and gave the company a “buy” rating in a research note on Thursday, November 2nd. ValuEngine lowered Columbus McKinnon Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. TheStreet upgraded Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Finally, BidaskClub upgraded Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $37.00.

In related news, VP Kurt F. Wozniak sold 13,205 shares of the business’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $31.64, for a total transaction of $417,806.20. Following the sale, the vice president now owns 25,426 shares in the company, valued at approximately $804,478.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Alan S. Korman sold 1,000 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $32.00, for a total value of $32,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 100,802 shares of company stock worth $3,399,491 in the last 90 days. 3.91% of the stock is currently owned by corporate insiders.

Columbus McKinnon Corporation (NASDAQ:CMCO) opened at $38.49 on Thursday. The stock has a market capitalization of $878.77, a price-to-earnings ratio of 22.74 and a beta of 1.92. Columbus McKinnon Corporation has a 52 week low of $19.98 and a 52 week high of $41.49. The company has a quick ratio of 1.18, a current ratio of 1.96 and a debt-to-equity ratio of 0.89.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its quarterly earnings data on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.06. The business had revenue of $212.80 million for the quarter, compared to analyst estimates of $203.27 million. Columbus McKinnon Corporation had a return on equity of 10.95% and a net margin of 2.65%. Columbus McKinnon Corporation’s quarterly revenue was up 40.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. sell-side analysts expect that Columbus McKinnon Corporation will post 1.95 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Friday, November 10th will be given a dividend of $0.04 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.16 dividend on an annualized basis and a yield of 0.42%. Columbus McKinnon Corporation’s dividend payout ratio is currently 18.82%.

About Columbus McKinnon Corporation

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

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