Sei Investments Co. Has $1.53 Million Holdings in Columbus McKinnon Corporation (CMCO)
Sei Investments Co. reduced its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 9.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,341 shares of the industrial products company’s stock after selling 3,983 shares during the quarter. Sei Investments Co. owned approximately 0.18% of Columbus McKinnon worth $1,528,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of CMCO. Laurion Capital Management LP purchased a new stake in Columbus McKinnon in the 2nd quarter valued at $202,000. WealthTrust Axiom LLC purchased a new stake in Columbus McKinnon in the 3rd quarter valued at $227,000. Voya Investment Management LLC grew its holdings in Columbus McKinnon by 10.8% in the 2nd quarter. Voya Investment Management LLC now owns 12,389 shares of the industrial products company’s stock valued at $315,000 after buying an additional 1,208 shares in the last quarter. Alliancebernstein L.P. grew its holdings in Columbus McKinnon by 48.3% in the 2nd quarter. Alliancebernstein L.P. now owns 12,900 shares of the industrial products company’s stock valued at $328,000 after buying an additional 4,200 shares in the last quarter. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Columbus McKinnon during the 2nd quarter worth $375,000. Institutional investors own 85.17% of the company’s stock.
Several research firms recently issued reports on CMCO. Zacks Investment Research raised Columbus McKinnon from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a research note on Thursday, November 2nd. Roth Capital increased their price objective on Columbus McKinnon from $36.00 to $41.00 and gave the company a “buy” rating in a report on Thursday, November 2nd. Finally, ValuEngine downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $37.00.
In other news, VP Mark R. Paradowski sold 3,906 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $39.96, for a total value of $156,083.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Alan S. Korman sold 2,500 shares of the firm’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $32.93, for a total value of $82,325.00. Following the completion of the sale, the vice president now directly owns 13,121 shares of the company’s stock, valued at $432,074.53. The disclosure for this sale can be found here. Insiders sold a total of 38,754 shares of company stock valued at $1,471,455 over the last three months. Insiders own 3.91% of the company’s stock.
Columbus McKinnon Corporation (NASDAQ CMCO) opened at $39.16 on Wednesday. The stock has a market capitalization of $910.51, a P/E ratio of 23.57 and a beta of 1.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.18 and a current ratio of 1.96. Columbus McKinnon Corporation has a 12 month low of $22.88 and a 12 month high of $41.49.
Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Tuesday, October 31st. The industrial products company reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.06. Columbus McKinnon had a return on equity of 10.95% and a net margin of 2.65%. The company had revenue of $212.80 million for the quarter, compared to the consensus estimate of $203.27 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was up 40.0% on a year-over-year basis. analysts expect that Columbus McKinnon Corporation will post 1.95 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, November 20th. Stockholders of record on Friday, November 10th were issued a $0.04 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $0.16 annualized dividend and a dividend yield of 0.41%. Columbus McKinnon’s dividend payout ratio is currently 18.82%.
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Columbus McKinnon Company Profile
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