Susquehanna International Group LLP Invests $1.17 Million in Columbus McKinnon Corporation (CMCO) Stock

Susquehanna International Group LLP acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 45,831 shares of the industrial products company’s stock, valued at approximately $1,165,000. Susquehanna International Group LLP owned about 0.20% of Columbus McKinnon Corporation at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Envestnet Asset Management Inc. lifted its stake in Columbus McKinnon Corporation by 1.5% during the first quarter. Envestnet Asset Management Inc. now owns 6,094 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 91 shares during the last quarter. Laurion Capital Management LP bought a new position in Columbus McKinnon Corporation during the second quarter worth $202,000. American International Group Inc. lifted its stake in Columbus McKinnon Corporation by 7.1% during the first quarter. American International Group Inc. now owns 11,961 shares of the industrial products company’s stock worth $297,000 after purchasing an additional 795 shares during the last quarter. Voya Investment Management LLC lifted its stake in Columbus McKinnon Corporation by 10.8% during the second quarter. Voya Investment Management LLC now owns 12,389 shares of the industrial products company’s stock worth $315,000 after purchasing an additional 1,208 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in Columbus McKinnon Corporation by 48.3% during the second quarter. Alliancebernstein L.P. now owns 12,900 shares of the industrial products company’s stock worth $328,000 after purchasing an additional 4,200 shares during the last quarter. Hedge funds and other institutional investors own 86.37% of the company’s stock.

Columbus McKinnon Corporation (NASDAQ:CMCO) last announced its quarterly earnings results on Tuesday, August 1st. The industrial products company reported $0.55 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.32 by $0.23. The business had revenue of $203.70 million for the quarter, compared to analyst estimates of $190.62 million. Columbus McKinnon Corporation had a return on equity of 10.30% and a net margin of 2.06%. Columbus McKinnon Corporation’s quarterly revenue was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.32 EPS.

In related news, VP Alan S. Korman sold 2,500 shares of the business’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $32.93, for a total value of $82,325.00. Following the sale, the vice president now owns 13,121 shares of the company’s stock, valued at approximately $432,074.53. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Kurt F. Wozniak sold 13,205 shares of the business’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $31.64, for a total value of $417,806.20. Following the completion of the sale, the vice president now directly owns 25,426 shares in the company, valued at approximately $804,478.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 167,932 shares of company stock worth $5,416,512. 3.91% of the stock is owned by insiders.

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CMCO has been the topic of several research analyst reports. TheStreet upgraded Columbus McKinnon Corporation from a “c” rating to a “b” rating in a research note on Tuesday, August 1st. Roth Capital initiated coverage on Columbus McKinnon Corporation in a research note on Friday, July 28th. They set a “buy” rating and a $33.00 price objective on the stock. ValuEngine upgraded Columbus McKinnon Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Zacks Investment Research cut Columbus McKinnon Corporation from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, BidaskClub upgraded Columbus McKinnon Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.50.

About Columbus McKinnon Corporation

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

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