Assenagon Asset Management S.A. Raises Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Assenagon Asset Management S.A. boosted its holdings in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 81.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 173,245 shares of the industrial products company's stock after buying an additional 77,721 shares during the period. Assenagon Asset Management S.A. owned 0.60% of Columbus McKinnon worth $6,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP purchased a new position in shares of Columbus McKinnon in the second quarter worth $39,000. Innealta Capital LLC purchased a new stake in Columbus McKinnon in the 2nd quarter worth $41,000. CWM LLC boosted its holdings in shares of Columbus McKinnon by 679.8% during the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock valued at $63,000 after purchasing an additional 1,584 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $73,000. Finally, Point72 DIFC Ltd bought a new stake in shares of Columbus McKinnon in the second quarter worth about $106,000. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Price Performance

CMCO stock traded down $0.65 during trading on Tuesday, hitting $32.24. 203,664 shares of the company's stock traded hands, compared to its average volume of 172,923. The business has a fifty day simple moving average of $33.30 and a 200 day simple moving average of $36.46. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07. The stock has a market capitalization of $930.41 million, a price-to-earnings ratio of 19.90 and a beta of 1.17.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The business had revenue of $239.73 million for the quarter, compared to the consensus estimate of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The company's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. As a group, research analysts expect that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon's dividend payout ratio is currently 17.28%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Friday, August 2nd.

Columbus McKinnon 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.