Skylands Capital LLC Decreases Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Skylands Capital LLC lessened its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 18.3% during the 4th quarter, Holdings Channel reports. The institutional investor owned 197,075 shares of the industrial products company’s stock after selling 44,009 shares during the period. Columbus McKinnon makes up approximately 1.0% of Skylands Capital LLC’s portfolio, making the stock its 27th largest position. Skylands Capital LLC’s holdings in Columbus McKinnon were worth $7,339,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of CMCO. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Columbus McKinnon in the 4th quarter valued at approximately $26,416,000. Victory Capital Management Inc. raised its position in Columbus McKinnon by 1,006.0% during the 3rd quarter. Victory Capital Management Inc. now owns 338,424 shares of the industrial products company’s stock worth $12,183,000 after buying an additional 307,824 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Columbus McKinnon by 152.8% in the third quarter. Harbor Capital Advisors Inc. now owns 234,124 shares of the industrial products company’s stock valued at $8,428,000 after purchasing an additional 141,502 shares during the period. Bernzott Capital Advisors purchased a new position in Columbus McKinnon during the 4th quarter valued at about $3,766,000. Finally, Systematic Financial Management LP increased its holdings in Columbus McKinnon by 12.0% during the 3rd quarter. Systematic Financial Management LP now owns 782,274 shares of the industrial products company’s stock valued at $28,162,000 after acquiring an additional 83,610 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on CMCO. StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, February 11th. DA Davidson reaffirmed a “neutral” rating and issued a $35.00 price target on shares of Columbus McKinnon in a report on Tuesday, February 18th.

Insider Buying and Selling at Columbus McKinnon

In other news, Director Christopher J. Stephens acquired 5,000 shares of Columbus McKinnon stock in a transaction on Thursday, February 13th. The stock was bought at an average cost of $20.27 per share, with a total value of $101,350.00. Following the completion of the purchase, the director now owns 11,014 shares of the company’s stock, valued at $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Stock Down 5.9 %

Columbus McKinnon stock opened at $18.90 on Monday. The company has a 50-day simple moving average of $33.51 and a 200-day simple moving average of $34.28. The firm has a market capitalization of $540.79 million, a P/E ratio of 57.27 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. Columbus McKinnon Co. has a one year low of $18.86 and a one year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. As a group, equities analysts expect that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s payout ratio is 84.85%.

About Columbus McKinnon

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.