First Eagle Investment Management LLC Boosts Position in Columbus McKinnon Co. (NASDAQ:CMCO)

First Eagle Investment Management LLC grew its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 3.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,981 shares of the industrial products company’s stock after buying an additional 5,700 shares during the quarter. First Eagle Investment Management LLC owned 0.66% of Columbus McKinnon worth $6,562,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC raised its position in shares of Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after purchasing an additional 77,085 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Columbus McKinnon by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock worth $65,315,000 after buying an additional 7,465 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Columbus McKinnon by 2.0% in the second quarter. Envestnet Asset Management Inc. now owns 161,936 shares of the industrial products company’s stock worth $5,593,000 after acquiring an additional 3,241 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Columbus McKinnon by 18.4% in the second quarter. Oppenheimer Asset Management Inc. now owns 22,051 shares of the industrial products company’s stock valued at $762,000 after acquiring an additional 3,426 shares in the last quarter. Finally, Quest Partners LLC boosted its stake in shares of Columbus McKinnon by 15.3% during the second quarter. Quest Partners LLC now owns 18,631 shares of the industrial products company’s stock valued at $644,000 after acquiring an additional 2,467 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on shares of Columbus McKinnon in a research report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 target price on the stock.

Columbus McKinnon Stock Performance

NASDAQ CMCO opened at $32.31 on Friday. The business’s 50-day moving average price is $34.02 and its 200 day moving average price is $38.09. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. Columbus McKinnon Co. has a twelve month low of $29.26 and a twelve month high of $45.84. The company has a market capitalization of $932.43 million, a PE ratio of 19.94 and a beta of 1.18.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The business had revenue of $239.73 million for the quarter, compared to analysts’ expectations of $241.25 million. During the same period last year, the company earned $0.62 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, research analysts predict that Columbus McKinnon Co. will post 3.02 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.87%. Columbus McKinnon’s payout ratio is 17.28%.

About Columbus McKinnon

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.