Columbus McKinnon Corporation (CMCO) Position Reduced by RMB Capital Management LLC

RMB Capital Management LLC cut its position in Columbus McKinnon Corporation (NASDAQ:CMCO) by 39.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 202,519 shares of the industrial products company’s stock after selling 132,000 shares during the period. RMB Capital Management LLC owned 1.00% of Columbus McKinnon Corporation worth $5,027,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Envestnet Asset Management Inc. increased its position in Columbus McKinnon Corporation by 1.5% in the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after buying an additional 91 shares during the period. Isthmus Partners LLC increased its position in Columbus McKinnon Corporation by 0.7% in the first quarter. Isthmus Partners LLC now owns 30,604 shares of the industrial products company’s stock worth $760,000 after buying an additional 221 shares during the period. US Bancorp DE increased its position in Columbus McKinnon Corporation by 1.6% in the first quarter. US Bancorp DE now owns 28,659 shares of the industrial products company’s stock worth $711,000 after buying an additional 450 shares during the period. Massachusetts Financial Services Co. MA increased its position in Columbus McKinnon Corporation by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 45,122 shares of the industrial products company’s stock worth $1,120,000 after buying an additional 538 shares during the period. Finally, American International Group Inc. increased its position in Columbus McKinnon Corporation by 7.1% in the first quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after buying an additional 795 shares during the period. 84.74% of the stock is owned by institutional investors.

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

Shares of Columbus McKinnon Corporation (NASDAQ:CMCO) traded down 2.06% during trading on Tuesday, hitting $27.16. The stock had a trading volume of 69,798 shares. Columbus McKinnon Corporation has a 12 month low of $13.80 and a 12 month high of $29.65. The stock has a 50-day moving average price of $26.03 and a 200 day moving average price of $26.18. The company has a market cap of $613.71 million, a P/E ratio of 63.16 and a beta of 1.85.

Columbus McKinnon Corporation (NASDAQ:CMCO) last issued its quarterly earnings data on Friday, June 2nd. The industrial products company reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $183.70 million during the quarter, compared to analysts’ expectations of $176.40 million. Columbus McKinnon Corporation had a return on equity of 9.03% and a net margin of 1.41%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. Equities analysts expect that Columbus McKinnon Corporation will post $1.69 EPS for the current fiscal year.

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A number of equities analysts have issued reports on the company. TheStreet downgraded Columbus McKinnon Corporation from a “b-” rating to a “c” rating in a report on Wednesday, May 31st. Zacks Investment Research downgraded Columbus McKinnon Corporation from a “hold” rating to a “sell” rating in a report on Monday, April 24th.

In related news, VP Alan S. Korman sold 1,000 shares of the company’s stock in a transaction on Friday, June 9th. The stock was sold at an average price of $28.71, for a total transaction of $28,710.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 4,500 shares of company stock valued at $123,960 over the last 90 days. 3.91% of the stock is currently owned by company insiders.

About Columbus McKinnon Corporation

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