According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “
Several other equities research analysts also recently issued reports on CMCO. ValuEngine upgraded Yelp from a sell rating to a hold rating in a report on Wednesday, April 3rd. BidaskClub downgraded Xencor from a sell rating to a strong sell rating in a report on Tuesday, June 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Columbus McKinnon has an average rating of Hold and a consensus price target of $44.50.
Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.11. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The company had revenue of $216.70 million for the quarter, compared to the consensus estimate of $210.59 million. During the same period in the previous year, the business earned $0.51 EPS. Columbus McKinnon’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities research analysts anticipate that Columbus McKinnon will post 3 EPS for the current fiscal year.
In other news, VP Peter M. Mccormick sold 11,415 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $38.75, for a total value of $442,331.25. Following the completion of the sale, the vice president now directly owns 67,050 shares in the company, valued at approximately $2,598,187.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Gregory P. Rustowicz sold 11,942 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $38.92, for a total value of $464,782.64. Following the completion of the sale, the chief financial officer now owns 63,100 shares of the company’s stock, valued at $2,455,852. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $1,417,153 over the last quarter. Company insiders own 2.39% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantamental Technologies LLC bought a new stake in shares of Columbus McKinnon in the 1st quarter valued at approximately $56,000. Acadian Asset Management LLC increased its holdings in shares of Columbus McKinnon by 219.6% in the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock valued at $57,000 after acquiring an additional 1,298 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Columbus McKinnon by 14.5% in the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock valued at $129,000 after acquiring an additional 541 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Columbus McKinnon in the 1st quarter valued at approximately $156,000. Finally, BNP Paribas Arbitrage SA boosted its position in Columbus McKinnon by 1,596.7% during the 1st quarter. BNP Paribas Arbitrage SA now owns 4,649 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 4,375 shares during the period. Institutional investors and hedge funds own 99.49% of the company’s stock.
Columbus McKinnon Company Profile
Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.
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