Columbus McKinnon Corp. (NASDAQ:CMCO) VP Peter M. Mccormick sold 7,500 shares of Columbus McKinnon stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $38.75, for a total value of $290,625.00. Following the completion of the transaction, the vice president now owns 67,050 shares of the company’s stock, valued at $2,598,187.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
NASDAQ CMCO traded down $0.01 during trading hours on Tuesday, reaching $38.90. The company’s stock had a trading volume of 123,167 shares, compared to its average volume of 100,433. The company has a quick ratio of 1.02, a current ratio of 1.72 and a debt-to-equity ratio of 0.55. Columbus McKinnon Corp. has a 52 week low of $27.66 and a 52 week high of $45.85. The stock has a market capitalization of $901.51 million, a P/E ratio of 14.20 and a beta of 1.75.
Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Tuesday, May 28th. The industrial products company reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.11. The company had revenue of $216.70 million for the quarter, compared to analysts’ expectations of $210.59 million. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 earnings per share. As a group, equities research analysts expect that Columbus McKinnon Corp. will post 3 earnings per share for the current year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marshall Wace North America L.P. purchased a new position in shares of Columbus McKinnon during the 1st quarter valued at $156,000. FMR LLC grew its holdings in shares of Columbus McKinnon by 35.8% during the 1st quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock valued at $21,853,000 after acquiring an additional 167,700 shares in the last quarter. Macquarie Group Ltd. grew its holdings in shares of Columbus McKinnon by 9.1% during the 1st quarter. Macquarie Group Ltd. now owns 1,639,639 shares of the industrial products company’s stock valued at $56,321,000 after acquiring an additional 136,617 shares in the last quarter. SEI Investments Co grew its holdings in shares of Columbus McKinnon by 15.3% during the 1st quarter. SEI Investments Co now owns 119,349 shares of the industrial products company’s stock valued at $4,100,000 after acquiring an additional 15,829 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Columbus McKinnon by 190.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 72,054 shares of the industrial products company’s stock valued at $2,475,000 after acquiring an additional 47,228 shares in the last quarter. 99.62% of the stock is currently owned by institutional investors.
A number of equities analysts recently commented on CMCO shares. BidaskClub upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. ValuEngine downgraded Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Zacks Investment Research raised shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a report on Wednesday, April 3rd. 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 stock. The stock currently has an average rating of “Hold” and a consensus target price of $44.50.
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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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