Columbus McKinnon Co. (NASDAQ:CMCO) Holdings Lifted by Vaughan Nelson Investment Management L.P.

Vaughan Nelson Investment Management L.P. increased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 37.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 975,355 shares of the industrial products company’s stock after buying an additional 266,020 shares during the quarter. Vaughan Nelson Investment Management L.P. owned 3.41% of Columbus McKinnon worth $16,513,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Bridge City Capital LLC grew its stake in Columbus McKinnon by 0.9% in the first quarter. Bridge City Capital LLC now owns 97,082 shares of the industrial products company’s stock valued at $1,644,000 after purchasing an additional 864 shares in the last quarter. Parallel Advisors LLC purchased a new position in Columbus McKinnon in the first quarter valued at about $47,000. GAMMA Investing LLC grew its stake in Columbus McKinnon by 3,033.1% in the first quarter. GAMMA Investing LLC now owns 3,979 shares of the industrial products company’s stock valued at $67,000 after purchasing an additional 3,852 shares in the last quarter. Moody National Bank Trust Division grew its stake in Columbus McKinnon by 35.3% in the first quarter. Moody National Bank Trust Division now owns 23,182 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 6,044 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Columbus McKinnon by 3,784.1% in the first quarter. Versant Capital Management Inc now owns 2,447 shares of the industrial products company’s stock valued at $41,000 after purchasing an additional 2,384 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kathryn V. Bohl purchased 2,819 shares of Columbus McKinnon stock in a transaction on Wednesday, March 19th. The stock was bought at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the transaction, the director now directly owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. This represents a 23.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders purchased 4,819 shares of company stock valued at $79,634 over the last quarter. Insiders own 1.98% of the company’s stock.

Columbus McKinnon Stock Performance

Shares of NASDAQ CMCO opened at $15.04 on Monday. The business’s 50-day moving average price is $15.30 and its two-hundred day moving average price is $23.96. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. Columbus McKinnon Co. has a one year low of $11.78 and a one year high of $41.05. The company has a market capitalization of $430.63 million, a P/E ratio of 45.58 and a beta of 1.28.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.02. Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. The company had revenue of $248.00 million during the quarter, compared to analysts’ expectations of $250.05 million. During the same quarter in the previous year, the firm earned $0.75 earnings per share. The business’s quarterly revenue was down 7.0% compared to the same quarter last year. Analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Friday, May 2nd were given a $0.07 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.86%. Columbus McKinnon’s dividend payout ratio is currently -164.71%.

Wall Street Analysts Forecast Growth

Separately, DA Davidson restated a “neutral” rating and issued a $35.00 target price on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

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.