According to Zacks, “Columbus McKinnon, is a broad-line designer, manufacturer and supplier of sophisticated material handling products and integrated material handling solutions that are widely distributed to industrial and consumer markets worldwide. The Company’s material handling products are sold, omestically and internationally, principally to third party distributors and, to a lesser extent, directly to manufacturers and other end-users. The Company’s integrated material handling solutions businesses deal directly with end-users. “
Other analysts have also recently issued research reports about the company. BidaskClub cut Xencor from a sell rating to a strong sell rating in a research report on Tuesday, June 11th. ValuEngine raised Yelp from a sell rating to a hold rating in a research note on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus price target of $44.50.
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 analysts’ consensus estimates of $0.58 by $0.11. The firm had revenue of $216.70 million during the quarter, compared to analysts’ expectations of $210.59 million. Columbus McKinnon had a return on equity of 15.41% and a net margin of 4.86%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. Equities research analysts predict that Columbus McKinnon will post 3 EPS for the current fiscal year.
In other Columbus McKinnon news, VP Peter M. Mccormick sold 11,415 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $38.75, for a total value of $442,331.25. Following the sale, the vice president now directly owns 67,050 shares of the company’s stock, valued at approximately $2,598,187.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Gregory P. Rustowicz sold 11,942 shares of the firm’s stock in a transaction dated Tuesday, June 11th. The stock was sold at an average price of $38.92, for a total value of $464,782.64. Following the completion of the sale, the chief financial officer now directly owns 63,100 shares in the company, valued at $2,455,852. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,847 shares of company stock worth $1,417,153. 2.39% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of CMCO. Macquarie Group Ltd. boosted its stake in Columbus McKinnon by 17.4% in the 4th quarter. Macquarie Group Ltd. now owns 1,503,022 shares of the industrial products company’s stock worth $45,301,000 after buying an additional 222,399 shares during the last quarter. FMR LLC boosted its stake in Columbus McKinnon by 35.8% in the 1st quarter. FMR LLC now owns 636,200 shares of the industrial products company’s stock worth $21,853,000 after buying an additional 167,700 shares during the last quarter. Divisar Capital Management LLC acquired a new stake in Columbus McKinnon in the 4th quarter worth about $3,014,000. Westwood Holdings Group Inc. boosted its stake in Columbus McKinnon by 19.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 515,271 shares of the industrial products company’s stock worth $17,700,000 after buying an additional 85,272 shares during the last quarter. Finally, Sagard Capital Partners Management Corp acquired a new stake in Columbus McKinnon in the 4th quarter worth about $2,501,000. 99.49% of the stock is currently owned by hedge funds and other institutional investors.
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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