First Eagle Investment Management LLC Has $6.47 Million Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

First Eagle Investment Management LLC lessened its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 10.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 173,731 shares of the industrial products company’s stock after selling 20,700 shares during the quarter. First Eagle Investment Management LLC owned approximately 0.61% of Columbus McKinnon worth $6,470,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Millburn Ridgefield Corp bought a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $155,000. Park Avenue Securities LLC bought a new position in shares of Columbus McKinnon during the 4th quarter worth approximately $239,000. PNC Financial Services Group Inc. lifted its position in shares of Columbus McKinnon by 12.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,129 shares of the industrial products company’s stock worth $265,000 after buying an additional 806 shares during the period. Intech Investment Management LLC bought a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $264,000. Finally, Paloma Partners Management Co bought a new position in shares of Columbus McKinnon during the 3rd quarter worth approximately $323,000. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Trading Up 4.9 %

Shares of CMCO opened at $18.34 on Friday. The company has a market cap of $524.76 million, a price-to-earnings ratio of 55.58 and a beta of 1.31. Columbus McKinnon Co. has a 52-week low of $15.48 and a 52-week high of $45.84. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 2.03. The stock has a fifty day moving average price of $27.56 and a two-hundred day moving average price of $32.65.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Monday, February 10th. The industrial products company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.18). Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. Analysts predict that Columbus McKinnon Co. will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 18th. Stockholders of record on Friday, February 7th were given a dividend of $0.07 per share. The ex-dividend date was Friday, February 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.53%. Columbus McKinnon’s payout ratio is currently 84.85%.

Insider Transactions at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 5,000 shares of the firm’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 completion of the purchase, the director now directly owns 11,014 shares in the company, valued at approximately $223,253.78. This trade represents a 83.14 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Chad R. Abraham acquired 20,000 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were bought at an average cost of $16.05 per share, with a total value of $321,000.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at $321,000. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.98% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMCO has been the subject of several analyst reports. DA Davidson restated a “neutral” rating and set a $35.00 target price on shares of Columbus McKinnon in a research report on Tuesday, February 18th. StockNews.com downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Tuesday, February 11th.

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.