Skylands Capital LLC Raises Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Skylands Capital LLC boosted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 3.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 243,596 shares of the industrial products company’s stock after buying an additional 8,107 shares during the quarter. Columbus McKinnon makes up approximately 1.4% of Skylands Capital LLC’s portfolio, making the stock its 17th largest holding. Skylands Capital LLC owned about 0.85% of Columbus McKinnon worth $9,505,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in CMCO. Truist Financial Corp grew its stake in shares of Columbus McKinnon by 2.2% during the 4th quarter. Truist Financial Corp now owns 66,726 shares of the industrial products company’s stock worth $2,604,000 after acquiring an additional 1,424 shares during the period. State of New Jersey Common Pension Fund D grew its stake in Columbus McKinnon by 13.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 72,202 shares of the industrial products company’s stock valued at $2,817,000 after buying an additional 8,302 shares in the last quarter. Bailard Inc. bought a new stake in Columbus McKinnon during the 4th quarter valued at $258,000. Wedge Capital Management L L P NC lifted its position in shares of Columbus McKinnon by 8.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 27,530 shares of the industrial products company’s stock worth $1,074,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Carmel Capital Partners LLC boosted its holdings in shares of Columbus McKinnon by 692.6% in the fourth quarter. Carmel Capital Partners LLC now owns 6,095 shares of the industrial products company’s stock worth $238,000 after acquiring an additional 5,326 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insiders Place Their Bets

In other Columbus McKinnon news, SVP Lara Mario Y. Ramos sold 9,071 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $38.50, for a total value of $349,233.50. Following the sale, the senior vice president now owns 12,266 shares of the company’s stock, valued at approximately $472,241. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, SVP Lara Mario Y. Ramos sold 9,071 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $38.50, for a total value of $349,233.50. Following the completion of the sale, the senior vice president now owns 12,266 shares of the company’s stock, valued at $472,241. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Gregory P. Rustowicz sold 9,461 shares of Columbus McKinnon stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $41.44, for a total transaction of $392,063.84. Following the sale, the chief financial officer now directly owns 79,012 shares in the company, valued at approximately $3,274,257.28. The disclosure for this sale can be found here. Insiders own 1.47% of the company’s stock.

Columbus McKinnon Price Performance

Shares of NASDAQ CMCO traded up $0.37 during mid-day trading on Monday, reaching $42.30. 27,645 shares of the company were exchanged, compared to its average volume of 138,202. The company’s 50 day moving average price is $42.09 and its 200 day moving average price is $38.53. Columbus McKinnon Co. has a 52 week low of $30.29 and a 52 week high of $44.97. The company has a quick ratio of 1.16, a current ratio of 1.92 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $1.21 billion, a PE ratio of 24.81 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Wednesday, January 31st. The industrial products company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.05. The company had revenue of $254.14 million during the quarter, compared to the consensus estimate of $254.00 million. Columbus McKinnon had a return on equity of 9.88% and a net margin of 4.86%. During the same quarter in the previous year, the company posted $0.72 EPS. Sell-side analysts forecast that Columbus McKinnon Co. will post 2.95 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 13th. Investors of record on Friday, May 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, May 2nd. This represents a $0.28 annualized dividend and a yield of 0.66%. Columbus McKinnon’s payout ratio is 16.57%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. DA Davidson lifted their target price on Columbus McKinnon from $48.00 to $50.00 and gave the company a “buy” rating in a report on Monday, February 5th. TheStreet upgraded shares of Columbus McKinnon from a “c+” rating to a “b-” rating in a research report on Tuesday, January 2nd. Finally, StockNews.com lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, February 27th.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets intelligent motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual hoists, electric and air hoists, winches, hydraulic jacks, trolleys and its clamps, and lifting tables; crane systems, such as mobile and jib cranes, material handling solutions, enclosed track rail systems, and crane components and kits; and rigging equipment comprising below-the-hook lifting devices, lifting slings and lashing systems, tie-downs and load binders, forestry and hand tools, and shackles.