PNC Financial Services Group Inc. Raises Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

PNC Financial Services Group Inc. boosted its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 12.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,129 shares of the industrial products company’s stock after purchasing an additional 806 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Columbus McKinnon were worth $265,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Lord Abbett & CO. LLC grew its holdings in Columbus McKinnon by 8.1% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,003,751 shares of the industrial products company’s stock valued at $36,135,000 after buying an additional 74,831 shares in the last quarter. Systematic Financial Management LP raised its position in shares of Columbus McKinnon by 12.0% during the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock valued at $28,162,000 after buying an additional 83,610 shares during the period. Victory Capital Management Inc. increased its stake in Columbus McKinnon by 117.8% during the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock worth $27,455,000 after acquiring an additional 398,826 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Columbus McKinnon in the fourth quarter valued at $26,416,000. Finally, Geode Capital Management LLC lifted its stake in shares of Columbus McKinnon by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 687,852 shares of the industrial products company’s stock valued at $24,767,000 after purchasing an additional 10,581 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 firms have commented on CMCO. DA Davidson restated a “neutral” rating and set a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Activity

In other news, Director Christopher J. Stephens acquired 5,000 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 13th. The stock was purchased at an average cost of $20.27 per share, with a total value of $101,350.00. Following the completion of the acquisition, the director now owns 11,014 shares in the company, valued at $223,253.78. This trade represents a 83.14 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Kathryn V. Bohl bought 2,819 shares of the stock in a transaction on Wednesday, March 19th. The stock was purchased at an average cost of $17.99 per share, for a total transaction of $50,713.81. Following the acquisition, the director now directly owns 14,812 shares of the company’s stock, valued at $266,467.88. The trade was a 23.51 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders acquired 27,819 shares of company stock valued at $473,064. Insiders own 1.98% of the company’s stock.

Columbus McKinnon Trading Down 1.4 %

CMCO opened at $18.46 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. The stock has a market capitalization of $528.20 million, a price-to-earnings ratio of 55.94 and a beta of 1.31. The business has a fifty day moving average price of $25.85 and a 200 day moving average price of $32.12. Columbus McKinnon Co. has a 12 month low of $15.48 and a 12 month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. Sell-side analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were paid a $0.07 dividend. The ex-dividend date was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.52%. Columbus McKinnon’s dividend payout ratio is presently 84.85%.

Columbus McKinnon Company 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.