GSA Capital Partners LLP cut its stake in shares of Columbus McKinnon Corp. (NASDAQ:CMCO) by 56.8% during the second quarter, Holdings Channel reports. The firm owned 16,503 shares of the company’s stock after selling 21,702 shares during the period. GSA Capital Partners LLP owned 0.08% of Columbus McKinnon Corp. worth $234,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. California Public Employees Retirement System boosted its stake in shares of Columbus McKinnon Corp. by 13.8% in the second quarter. California Public Employees Retirement System now owns 75,200 shares of the company’s stock valued at $1,064,000 after buying an additional 9,100 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of Columbus McKinnon Corp. during the second quarter valued at approximately $2,239,000. Bank of New York Mellon Corp boosted its stake in shares of Columbus McKinnon Corp. by 2.1% in the second quarter. Bank of New York Mellon Corp now owns 176,403 shares of the company’s stock valued at $2,496,000 after buying an additional 3,594 shares during the period. Bank of Montreal Can bought a new stake in shares of Columbus McKinnon Corp. during the second quarter valued at approximately $553,000. Finally, Eagle Boston Investment Management Inc. boosted its stake in shares of Columbus McKinnon Corp. by 2.9% in the second quarter. Eagle Boston Investment Management Inc. now owns 289,818 shares of the company’s stock valued at $4,100,000 after buying an additional 8,210 shares during the period. Hedge funds and other institutional investors own 82.47% of the company’s stock.
Shares of Columbus McKinnon Corp. (NASDAQ:CMCO) traded up 3.72% during trading on Friday, reaching $17.84. 56,193 shares of the company’s stock were exchanged. Columbus McKinnon Corp. has a 52 week low of $12.62 and a 52 week high of $21.63. The company’s 50-day moving average price is $17.44 and its 200 day moving average price is $16.02. The firm has a market capitalization of $360.28 million, a PE ratio of 18.98 and a beta of 2.16.
Columbus McKinnon Corp. (NASDAQ:CMCO) last released its earnings results on Thursday, July 28th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Columbus McKinnon Corp. had a net margin of 3.13% and a return on equity of 10.20%. The firm earned $149 million during the quarter, compared to analyst estimates of $148.52 million. During the same quarter in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Columbus McKinnon Corp. will post $1.42 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded shares of Columbus McKinnon Corp. from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Monday, September 26th.
In other Columbus McKinnon Corp. news, VP Alan S. Korman sold 2,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $17.91, for a total transaction of $35,820.00. Following the completion of the sale, the vice president now owns 16,142 shares in the company, valued at $289,103.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 3.78% of the company’s stock.
About Columbus McKinnon Corp.
Columbus McKinnon Corporation is a global designer, manufacturer and marketer of hoists, rigging tools, cranes, actuators and other material handling products serving a range of commercial and industrial end user markets. The Company’s products include a range of electric, air-powered, lever and hand hoists, hoist trolleys, winches, industrial crane systems, such as steel bridge, gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments, such as hooks, shackles, textile slings, clamps, logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters, and tire shredders.
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