Hsbc Holdings PLC Has $203,000 Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Hsbc Holdings PLC reduced its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 73.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,426 shares of the industrial products company’s stock after selling 15,397 shares during the period. Hsbc Holdings PLC’s holdings in Columbus McKinnon were worth $203,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its position in shares of Columbus McKinnon by 810.0% during the 4th quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 810 shares in the last quarter. Park Avenue Securities LLC acquired a new position in shares of Columbus McKinnon during the 4th quarter valued at $239,000. KLP Kapitalforvaltning AS bought a new position in Columbus McKinnon during the fourth quarter worth $250,000. PNC Financial Services Group Inc. grew its holdings in Columbus McKinnon by 12.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after purchasing an additional 806 shares during the period. Finally, LSV Asset Management acquired a new position in shares of Columbus McKinnon during the fourth quarter valued at about $276,000. 95.96% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO opened at $16.52 on Friday. The stock has a market cap of $472.69 million, a price-to-earnings ratio of 50.06 and a beta of 1.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. Columbus McKinnon Co. has a fifty-two week low of $11.78 and a fifty-two week high of $45.84. The firm’s 50-day simple moving average is $15.73 and its 200 day simple moving average is $27.41.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results 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, research analysts anticipate that Columbus McKinnon Co. will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Friday, May 2nd will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Friday, May 2nd. Columbus McKinnon’s payout ratio is currently 84.85%.

Insider Buying and Selling

In other Columbus McKinnon news, Director Kathryn V. Bohl bought 2,819 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $17.99 per share, for a total transaction of $50,713.81. Following the purchase, the director now directly owns 14,812 shares of the company’s stock, valued at approximately $266,467.88. This represents a 23.51 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Chad R. Abraham purchased 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were acquired at an average cost of $16.05 per share, with a total value of $321,000.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at $321,000. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 27,819 shares of company stock worth $473,064. 1.98% of the stock is owned by insiders.

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.