Sei Investments Co. Has $4.33 Million Stock Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Sei Investments Co. grew its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 9.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 125,492 shares of the industrial products company’s stock after purchasing an additional 11,292 shares during the quarter. Sei Investments Co.’s holdings in Columbus McKinnon were worth $4,334,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Inspire Investing LLC lifted its stake in shares of Columbus McKinnon by 26.3% in the 2nd quarter. Inspire Investing LLC now owns 10,147 shares of the industrial products company’s stock valued at $350,000 after purchasing an additional 2,116 shares during the period. XTX Topco Ltd acquired a new stake in Columbus McKinnon during the 2nd quarter worth $223,000. First Eagle Investment Management LLC raised its stake in Columbus McKinnon by 3.1% during the 2nd quarter. First Eagle Investment Management LLC now owns 189,981 shares of the industrial products company’s stock worth $6,562,000 after buying an additional 5,700 shares during the period. Renaissance Technologies LLC raised its stake in Columbus McKinnon by 250.3% during the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock worth $3,726,000 after buying an additional 77,085 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Columbus McKinnon by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock worth $65,315,000 after buying an additional 7,465 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on Columbus McKinnon in a research note on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price objective on the stock.

Columbus McKinnon Price Performance

CMCO stock opened at $35.12 on Wednesday. The stock has a 50-day moving average price of $33.63 and a two-hundred day moving average price of $37.61. The stock has a market cap of $1.01 billion, a PE ratio of 21.68 and a beta of 1.18. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. Columbus McKinnon Co. has a 1 year low of $29.26 and a 1 year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The firm had revenue of $239.73 million during the quarter, compared to analysts’ expectations of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.62 EPS. Equities analysts forecast that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Friday, August 9th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.80%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s payout ratio is 17.28%.

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.