PNC Financial Services Group Inc. Increases Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

PNC Financial Services Group Inc. raised its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 12.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,129 shares of the industrial products company’s stock after purchasing an additional 806 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Columbus McKinnon were worth $265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in Columbus McKinnon during the 4th quarter worth approximately $14,799,000. Victory Capital Management Inc. boosted its stake in Columbus McKinnon by 117.8% during the 4th quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company’s stock valued at $27,455,000 after acquiring an additional 398,826 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Columbus McKinnon by 5.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,575 shares of the industrial products company’s stock worth $15,364,000 after acquiring an additional 21,830 shares in the last quarter. Fisher Asset Management LLC increased its position in shares of Columbus McKinnon by 72.2% in the 4th quarter. Fisher Asset Management LLC now owns 406,968 shares of the industrial products company’s stock worth $15,155,000 after purchasing an additional 170,595 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in shares of Columbus McKinnon by 2.6% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 22,309 shares of the industrial products company’s stock valued at $831,000 after purchasing an additional 561 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $18.46 on Friday. The company has a market cap of $528.20 million, a P/E ratio of 55.94 and a beta of 1.31. The firm’s 50 day simple moving average is $25.85 and its 200-day simple moving average is $32.12. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.03 and a quick ratio of 1.10. Columbus McKinnon Co. has a fifty-two week low of $15.48 and a fifty-two week high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Monday, February 10th. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. As a group, equities research analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 18th. Investors of record on Friday, February 7th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, February 7th. Columbus McKinnon’s dividend payout ratio is currently 84.85%.

Analyst Ratings Changes

Several research firms have recently commented on CMCO. DA Davidson reaffirmed a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a report on Tuesday, February 18th. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Tuesday, February 11th.

Insider Activity at Columbus McKinnon

In other Columbus McKinnon news, Director Chad R. Abraham acquired 20,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were purchased at an average price of $16.05 per share, with a total value of $321,000.00. Following the completion of the transaction, the director now owns 20,000 shares in the company, valued at $321,000. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Christopher J. Stephens bought 5,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 11,014 shares of the company’s stock, valued at approximately $223,253.78. This represents a 83.14 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 27,819 shares of company stock valued at $473,064. Corporate insiders own 1.98% of the company’s stock.

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.