New York State Common Retirement Fund Grows Holdings in Columbus McKinnon Corp. (NASDAQ:CMCO)

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New York State Common Retirement Fund lifted its holdings in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 2.4% in the first quarter, Holdings Channel reports. The institutional investor owned 55,855 shares of the industrial products company’s stock after buying an additional 1,332 shares during the period. New York State Common Retirement Fund’s holdings in Columbus McKinnon were worth $1,919,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its stake in shares of Columbus McKinnon by 1.1% during the 4th quarter. Victory Capital Management Inc. now owns 44,045 shares of the industrial products company’s stock worth $1,328,000 after buying an additional 460 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Columbus McKinnon by 14.5% during the 4th quarter. Legal & General Group Plc now owns 4,279 shares of the industrial products company’s stock worth $129,000 after buying an additional 541 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Columbus McKinnon by 15.4% during the 4th quarter. Citigroup Inc. now owns 7,189 shares of the industrial products company’s stock worth $217,000 after buying an additional 957 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Columbus McKinnon by 219.6% during the 4th quarter. Acadian Asset Management LLC now owns 1,889 shares of the industrial products company’s stock worth $57,000 after buying an additional 1,298 shares during the last quarter. Finally, Lord Abbett & CO. LLC boosted its stake in shares of Columbus McKinnon by 0.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 587,814 shares of the industrial products company’s stock worth $17,717,000 after buying an additional 1,500 shares during the last quarter. Institutional investors own 99.62% of the company’s stock.

In related news, VP Peter M. Mccormick sold 7,500 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $38.75, for a total value of $290,625.00. Following the completion of the sale, the vice president now directly owns 67,050 shares in the company, valued at approximately $2,598,187.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Peter M. Mccormick sold 5,990 shares of the firm’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $36.63, for a total transaction of $219,413.70. Following the completion of the sale, the vice president now owns 75,040 shares of the company’s stock, valued at $2,748,715.20. The disclosure for this sale can be found here. Insiders sold a total of 36,847 shares of company stock valued at $1,417,153 over the last quarter. 2.27% of the stock is currently owned by company insiders.

A number of equities analysts have recently commented on CMCO shares. BidaskClub upgraded shares of Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Wednesday, February 20th. ValuEngine downgraded shares of Columbus McKinnon from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Finally, Zacks Investment Research upgraded shares of Columbus McKinnon from a “sell” rating to a “hold” rating in a research note on Wednesday, April 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $44.50.

Columbus McKinnon stock opened at $39.04 on Friday. Columbus McKinnon Corp. has a one year low of $27.66 and a one year high of $45.85. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.72 and a quick ratio of 1.02. The stock has a market cap of $912.75 million, a PE ratio of 14.23 and a beta of 1.75.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Tuesday, May 28th. The industrial products company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.11. Columbus McKinnon had a net margin of 4.86% and a return on equity of 15.41%. The company had revenue of $216.70 million during the quarter, compared to the consensus estimate of $210.59 million. During the same period in the prior year, the business posted $0.51 EPS. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts expect that Columbus McKinnon Corp. will post 3 earnings per share for the current fiscal year.

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About Columbus McKinnon

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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