Central Pacific Bank Trust Division Raises Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Central Pacific Bank Trust Division grew its position in Columbus McKinnon Co. (NASDAQ:CMCO) by 32.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,867 shares of the industrial products company’s stock after acquiring an additional 2,148 shares during the period. Central Pacific Bank Trust Division’s holdings in Columbus McKinnon were worth $319,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its holdings in shares of Columbus McKinnon by 0.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after acquiring an additional 7,465 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Columbus McKinnon by 1.0% during the first quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company’s stock worth $69,505,000 after buying an additional 16,174 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Columbus McKinnon during the second quarter worth about $35,540,000. Allspring Global Investments Holdings LLC boosted its holdings in Columbus McKinnon by 0.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company’s stock worth $33,305,000 after buying an additional 3,200 shares in the last quarter. Finally, Meros Investment Management LP boosted its holdings in Columbus McKinnon by 1.6% during the second quarter. Meros Investment Management LP now owns 212,592 shares of the industrial products company’s stock worth $7,343,000 after buying an additional 3,389 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Columbus McKinnon Stock Down 2.5 %

Shares of NASDAQ CMCO opened at $34.42 on Friday. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84. The company has a market capitalization of $993.33 million, a PE ratio of 21.25 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 firm’s 50-day moving average is $33.59 and its two-hundred day moving average is $37.59.

Columbus McKinnon (NASDAQ:CMCO) last announced 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 net margin of 4.52% and a return on equity of 9.50%. The company had revenue of $239.73 million for the quarter, compared to the consensus estimate of $241.25 million. During the same quarter in the prior year, the firm earned $0.62 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. Equities analysts anticipate that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 0.81%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 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.