Bank of Montreal Can Buys 6,326 Shares of Columbus McKinnon Corp. (CMCO)

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Bank of Montreal Can raised its stake in Columbus McKinnon Corp. (NASDAQ:CMCO) by 14.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 50,311 shares of the industrial products company’s stock after buying an additional 6,326 shares during the quarter. Bank of Montreal Can’s holdings in Columbus McKinnon were worth $1,516,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CMCO. Walthausen & Co. LLC bought a new stake in Columbus McKinnon in the third quarter valued at $8,991,000. FMR LLC lifted its stake in Columbus McKinnon by 83.5% in the third quarter. FMR LLC now owns 408,329 shares of the industrial products company’s stock valued at $16,145,000 after buying an additional 185,751 shares during the last quarter. Macquarie Group Ltd. lifted its stake in Columbus McKinnon by 14.1% in the third quarter. Macquarie Group Ltd. now owns 1,280,623 shares of the industrial products company’s stock valued at $50,635,000 after buying an additional 157,958 shares during the last quarter. Northpointe Capital LLC bought a new stake in Columbus McKinnon in the third quarter valued at $3,205,000. Finally, Marshall Wace LLP bought a new stake in Columbus McKinnon in the third quarter valued at $3,090,000. Institutional investors own 97.44% of the company’s stock.

Shares of NASDAQ CMCO opened at $36.87 on Thursday. Columbus McKinnon Corp. has a fifty-two week low of $27.66 and a fifty-two week high of $45.85. The company has a current ratio of 1.78, a quick ratio of 1.01 and a debt-to-equity ratio of 0.61. The stock has a market cap of $839.38 million, a P/E ratio of 18.34 and a beta of 1.76.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Thursday, January 31st. The industrial products company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. Columbus McKinnon had a net margin of 3.58% and a return on equity of 14.55%. The business had revenue of $217.42 million for the quarter, compared to analysts’ expectations of $215.05 million. As a group, analysts predict that Columbus McKinnon Corp. will post 2.63 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 11th. Investors of record on Friday, February 1st were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date was Thursday, January 31st. Columbus McKinnon’s dividend payout ratio is currently 9.95%.

A number of equities research analysts recently weighed in on the stock. BidaskClub upgraded shares of Columbus McKinnon from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. ValuEngine upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. Zacks Investment Research upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, October 30th. Roth Capital set a $44.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a research note on Saturday, February 2nd. Finally, Craig Hallum set a $54.00 price objective on shares of Columbus McKinnon and gave the company a “buy” rating in a research note on Tuesday, October 30th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Columbus McKinnon has a consensus rating of “Buy” and an average target price of $44.50.

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Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets hoists, actuators, cranes, rigging tools, digital power control systems, and other material handling products for commercial and industrial applications worldwide. It offers various electric chain hoists, electric wire rope hoists, hand-operated hoists, winches, lever tools, and air-powered hoists under the Budgit, Chester, CM, Coffing, Little Mule, Pfaff, Shaw-Box, Yale, STAHL, and other brands; below-the-hook tooling, clamps, and textile strappings; and explosion-protected hoists, as well as supplies hoist trolleys.

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Institutional Ownership by Quarter for Columbus McKinnon (NASDAQ:CMCO)

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