Skylands Capital LLC Sells 44,009 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Skylands Capital LLC decreased its position in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,075 shares of the industrial products company's stock after selling 44,009 shares during the period. Columbus McKinnon accounts for 1.0% of Skylands Capital LLC's portfolio, making the stock its 27th largest position. Skylands Capital LLC owned 0.69% of Columbus McKinnon worth $7,339,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Creative Planning bought a new stake in Columbus McKinnon in the third quarter valued at approximately $369,000. Raymond James & Associates boosted its holdings in Columbus McKinnon by 14.4% during the third quarter. Raymond James & Associates now owns 73,087 shares of the industrial products company's stock worth $2,631,000 after purchasing an additional 9,179 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Columbus McKinnon by 81.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 173,245 shares of the industrial products company's stock worth $6,237,000 after buying an additional 77,721 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of Columbus McKinnon during the 3rd quarter worth about $823,000. Finally, US Bancorp DE grew its holdings in shares of Columbus McKinnon by 33.1% in the 3rd quarter. US Bancorp DE now owns 22,374 shares of the industrial products company's stock valued at $805,000 after acquiring an additional 5,568 shares in the last quarter. 95.96% of the stock is owned by institutional investors.

Remove Ads

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson reiterated a "neutral" rating and issued a $35.00 price target on shares of Columbus McKinnon in a research note on Tuesday, February 18th.

Insider Buying and Selling

In other news, Director Christopher J. Stephens purchased 5,000 shares of the business's stock in a transaction on Thursday, February 13th. The shares were acquired at an average price of $20.27 per share, with a total value of $101,350.00. Following the completion of the transaction, the director now owns 11,014 shares of the company's stock, valued at $223,253.78. The trade was a 83.14 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.98% of the stock is owned by corporate insiders.

Columbus McKinnon Stock Performance

Shares of Columbus McKinnon stock traded down $0.33 on Thursday, hitting $17.45. The stock had a trading volume of 663,235 shares, compared to its average volume of 575,806. The stock has a market cap of $499.30 million, a price-to-earnings ratio of 52.88 and a beta of 1.22. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. Columbus McKinnon Co. has a twelve month low of $17.41 and a twelve month high of $45.84. The business's 50 day moving average is $31.94 and its two-hundred day moving average is $33.85.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) 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%. Analysts forecast that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Shareholders of record on Friday, February 7th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon's payout ratio is 84.85%.

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.