Hsbc Holdings PLC Sells 37,686 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Hsbc Holdings PLC reduced its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 71.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,087 shares of the industrial products company’s stock after selling 37,686 shares during the quarter. Hsbc Holdings PLC owned about 0.05% of Columbus McKinnon worth $523,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. TFO Wealth Partners LLC boosted its position in shares of Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,344 shares during the period. Campbell & CO Investment Adviser LLC purchased a new position in shares of Columbus McKinnon in the fourth quarter worth $524,000. Keeley Teton Advisors LLC raised its stake in shares of Columbus McKinnon by 24.2% during the fourth quarter. Keeley Teton Advisors LLC now owns 52,785 shares of the industrial products company’s stock valued at $2,060,000 after acquiring an additional 10,277 shares during the last quarter. Quadrature Capital Ltd bought a new position in Columbus McKinnon during the 4th quarter valued at approximately $987,000. Finally, Nebula Research & Development LLC bought a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $730,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

CMCO stock opened at $36.00 on Tuesday. Columbus McKinnon Co. has a 1 year low of $29.26 and a 1 year high of $45.84. The company has a market cap of $1.04 billion, a P/E ratio of 22.22 and a beta of 1.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20. The stock’s fifty day moving average price is $33.69 and its 200-day moving average price is $37.66.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The firm had revenue of $239.73 million for the quarter, compared to the consensus estimate of $241.25 million. During the same period last year, the firm earned $0.62 EPS. The company’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Columbus McKinnon Co. will post 3.02 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.78%. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. JPMorgan Chase & Co. started coverage on shares of Columbus McKinnon in a report on Tuesday, June 4th. They issued an “overweight” rating and a $53.00 price objective for the company. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

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.