Legato Capital Management LLC Purchases Shares of 11,658 Columbus McKinnon Co. (NASDAQ:CMCO)

Legato Capital Management LLC bought a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 11,658 shares of the industrial products company's stock, valued at approximately $403,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its holdings in shares of Columbus McKinnon by 0.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company's stock valued at $33,305,000 after acquiring an additional 3,200 shares during the last quarter. Bank of New York Mellon Corp grew its position in Columbus McKinnon by 5.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 193,595 shares of the industrial products company's stock worth $6,687,000 after purchasing an additional 10,669 shares during the period. Wedge Capital Management L L P NC raised its stake in Columbus McKinnon by 10.7% during the 2nd quarter. Wedge Capital Management L L P NC now owns 36,674 shares of the industrial products company's stock valued at $1,267,000 after buying an additional 3,549 shares during the last quarter. Andina Capital Management LLC lifted its holdings in shares of Columbus McKinnon by 3.7% during the 2nd quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company's stock valued at $300,000 after buying an additional 311 shares during the period. Finally, CWM LLC boosted its stake in shares of Columbus McKinnon by 679.8% in the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock worth $63,000 after buying an additional 1,584 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. initiated coverage on shares of Columbus McKinnon in a research report on Tuesday, June 4th. They set an "overweight" rating and a $53.00 price target for the company.

Insiders Place Their Bets

In other news, Director Christopher J. Stephens acquired 1,500 shares of the firm's stock in a transaction dated Friday, May 31st. The shares were purchased at an average cost of $38.71 per share, for a total transaction of $58,065.00. Following the transaction, the director now directly owns 1,500 shares of the company's stock, valued at $58,065. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.98% of the company's stock.

Columbus McKinnon Stock Performance

Shares of CMCO stock traded down $0.47 during mid-day trading on Tuesday, reaching $33.47. 70,773 shares of the company's stock traded hands, compared to its average volume of 159,541. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.25 and a current ratio of 2.07. The firm has a market capitalization of $965.91 million, a PE ratio of 20.82 and a beta of 1.21. Columbus McKinnon Co. has a 12 month low of $30.29 and a 12 month high of $45.84. The firm has a 50 day moving average price of $34.77 and a two-hundred day moving average price of $39.34.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The business had revenue of $239.73 million during the quarter, compared to analyst estimates of $241.25 million. During the same quarter in the previous year, the company posted $0.62 earnings per share. Columbus McKinnon's revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts forecast that Columbus McKinnon Co. will post 3.18 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon's payout ratio is 17.28%.

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.