Allspring Global Investments Holdings LLC Sells 16,742 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Allspring Global Investments Holdings LLC reduced its holdings in Columbus McKinnon Co. (NASDAQ:CMCO) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 904,387 shares of the industrial products company’s stock after selling 16,742 shares during the quarter. Allspring Global Investments Holdings LLC owned 3.15% of Columbus McKinnon worth $33,408,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Mascoma Wealth Management LLC bought a new position in shares of Columbus McKinnon during the third quarter worth about $25,000. Palouse Capital Management Inc. bought a new position in shares of Columbus McKinnon during the third quarter worth about $144,000. Millburn Ridgefield Corp bought a new position in shares of Columbus McKinnon during the third quarter worth about $155,000. Park Avenue Securities LLC bought a new position in shares of Columbus McKinnon during the fourth quarter worth about $239,000. Finally, SG Americas Securities LLC bought a new position in shares of Columbus McKinnon during the third quarter worth about $244,000. 95.96% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CMCO shares. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday. DA Davidson downgraded Columbus McKinnon from a “buy” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Tuesday.

Columbus McKinnon Stock Down 0.1 %

CMCO stock opened at $20.48 on Friday. The company has a quick ratio of 1.16, a current ratio of 2.04 and a debt-to-equity ratio of 0.50. The business has a 50 day moving average price of $35.48 and a two-hundred day moving average price of $34.84. The company has a market cap of $585.99 million, a price-to-earnings ratio of 38.64 and a beta of 1.22. Columbus McKinnon Co. has a twelve month low of $19.55 and a twelve month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a net margin of 1.51% and a return on equity of 9.20%. Analysts anticipate that Columbus McKinnon Co. will post 2.98 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.37%. Columbus McKinnon’s payout ratio is 84.85%.

Insider Activity

In other news, Director Christopher J. Stephens purchased 5,000 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was acquired at an average cost of $20.27 per share, with a total value of $101,350.00. Following the acquisition, the director now owns 11,014 shares in the company, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.98% of the company’s stock.

Columbus McKinnon Company 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.