Truist Financial Corp Has $2.25 Million Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Truist Financial Corp decreased its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 18.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 65,102 shares of the industrial products company’s stock after selling 14,285 shares during the quarter. Truist Financial Corp owned approximately 0.23% of Columbus McKinnon worth $2,249,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quarry LP acquired a new position in Columbus McKinnon in the second quarter valued at about $39,000. Innealta Capital LLC bought a new position in Columbus McKinnon in the second quarter valued at about $41,000. CWM LLC grew its position in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock valued at $63,000 after acquiring an additional 1,584 shares during the last quarter. nVerses Capital LLC bought a new position in Columbus McKinnon in the second quarter valued at about $73,000. Finally, Point72 DIFC Ltd bought a new position in Columbus McKinnon in the second quarter valued at about $106,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $34.23 on Friday. The stock’s 50 day moving average is $33.12 and its 200 day moving average is $37.31. 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 has a market cap of $987.84 million, a P/E ratio of 21.13 and a beta of 1.17. Columbus McKinnon Co. has a one year low of $29.26 and a one year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $239.73 million for the quarter, compared to analyst estimates of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 earnings per share. As a group, research analysts expect that Columbus McKinnon Co. will post 3.02 EPS for the current 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 paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.82%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 17.28%.

Analyst Upgrades and Downgrades

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.