Oppenheimer Asset Management Inc. Acquires 3,426 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Oppenheimer Asset Management Inc. lifted its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 18.4% in the second quarter, Holdings Channel reports. The fund owned 22,051 shares of the industrial products company’s stock after purchasing an additional 3,426 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Columbus McKinnon were worth $762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Columbus McKinnon by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,833 shares of the industrial products company’s stock valued at $13,963,000 after purchasing an additional 5,125 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Columbus McKinnon by 6.2% in the fourth quarter. Teacher Retirement System of Texas now owns 24,251 shares of the industrial products company’s stock worth $946,000 after buying an additional 1,417 shares during the last quarter. BNP Paribas Financial Markets boosted its stake in Columbus McKinnon by 26.5% during the fourth quarter. BNP Paribas Financial Markets now owns 15,940 shares of the industrial products company’s stock worth $622,000 after buying an additional 3,342 shares during the period. Dimensional Fund Advisors LP increased its position in Columbus McKinnon by 0.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,842,229 shares of the industrial products company’s stock valued at $71,885,000 after acquiring an additional 13,630 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Columbus McKinnon in the fourth quarter valued at $416,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. StockNews.com cut shares of 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 report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 target price for the company.

Columbus McKinnon Stock Up 6.6 %

NASDAQ:CMCO opened at $33.33 on Friday. The company has a market cap of $961.87 million, a price-to-earnings ratio of 20.21 and a beta of 1.18. Columbus McKinnon Co. has a twelve month low of $29.26 and a twelve month high of $45.84. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. The stock has a fifty day simple moving average of $34.03 and a 200-day simple moving average of $38.12.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data 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. The company had revenue of $239.73 million during the quarter, compared to analysts’ expectations of $241.25 million. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 EPS. Analysts anticipate that Columbus McKinnon Co. will post 3.02 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were paid a $0.07 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.28 annualized dividend and a yield of 0.84%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 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.