Teton Advisors Inc. Decreases Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Teton Advisors Inc. lowered its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 5.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,000 shares of the industrial products company’s stock after selling 4,000 shares during the period. Teton Advisors Inc. owned about 0.22% of Columbus McKinnon worth $2,497,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the company. Barclays PLC raised its stake in Columbus McKinnon by 4.9% in the third quarter. Barclays PLC now owns 15,669 shares of the industrial products company’s stock valued at $548,000 after buying an additional 736 shares in the last quarter. Carmel Capital Partners LLC acquired a new position in Columbus McKinnon in the third quarter valued at approximately $27,000. Teacher Retirement System of Texas increased its stake in Columbus McKinnon by 4.0% in the third quarter. Teacher Retirement System of Texas now owns 22,834 shares of the industrial products company’s stock valued at $797,000 after purchasing an additional 881 shares during the last quarter. Swiss National Bank raised its holdings in Columbus McKinnon by 1.4% during the third quarter. Swiss National Bank now owns 63,211 shares of the industrial products company’s stock worth $2,207,000 after purchasing an additional 900 shares in the last quarter. Finally, Ziegler Capital Management LLC lifted its position in shares of Columbus McKinnon by 7.5% during the 4th quarter. Ziegler Capital Management LLC now owns 18,370 shares of the industrial products company’s stock worth $717,000 after buying an additional 1,288 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Columbus McKinnon news, CFO Gregory P. Rustowicz sold 9,461 shares of the business’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $41.44, for a total value of $392,063.84. Following the transaction, the chief financial officer now directly owns 79,012 shares of the company’s stock, valued at approximately $3,274,257.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Gregory P. Rustowicz sold 9,461 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $41.44, for a total value of $392,063.84. Following the completion of the sale, the chief financial officer now owns 79,012 shares in the company, valued at $3,274,257.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Lara Mario Y. Ramos sold 9,071 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now directly owns 12,266 shares in the company, valued at approximately $472,241. The disclosure for this sale can be found here. Corporate insiders own 1.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CMCO. StockNews.com downgraded shares of Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 27th. TheStreet upgraded Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, January 2nd. Finally, DA Davidson upped their target price on Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a research report on Monday, February 5th.

Columbus McKinnon Stock Performance

CMCO stock traded up $0.25 on Monday, hitting $42.18. The company’s stock had a trading volume of 62,184 shares, compared to its average volume of 138,651. The stock has a market cap of $1.21 billion, a price-to-earnings ratio of 24.96 and a beta of 1.29. The firm has a 50 day moving average of $42.07 and a two-hundred day moving average of $38.58. The company has a current ratio of 1.92, a quick ratio of 1.16 and a debt-to-equity ratio of 0.57. Columbus McKinnon Co. has a 1 year low of $30.29 and a 1 year high of $44.97.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Wednesday, January 31st. The industrial products company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.05. Columbus McKinnon had a net margin of 4.86% and a return on equity of 9.88%. The business had revenue of $254.14 million during the quarter, compared to analysts’ expectations of $254.00 million. During the same period in the prior year, the company earned $0.72 earnings per share. Equities analysts predict that Columbus McKinnon Co. will post 2.95 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 13th. Stockholders of record on Friday, May 3rd will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.66%. The ex-dividend date is Thursday, May 2nd. Columbus McKinnon’s payout ratio is currently 16.57%.

About Columbus McKinnon

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.