Palouse Capital Management Inc. Purchases New Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Palouse Capital Management Inc. acquired a new position in Columbus McKinnon Co. (NASDAQ:CMCO) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 4,013 shares of the industrial products company’s stock, valued at approximately $144,000.

Other institutional investors have also recently bought and sold shares of the company. Raymond James & Associates boosted its holdings in shares of Columbus McKinnon by 14.4% in the 3rd quarter. Raymond James & Associates now owns 73,087 shares of the industrial products company’s stock worth $2,631,000 after buying an additional 9,179 shares during the last quarter. Creative Planning bought a new stake in shares of Columbus McKinnon in the 3rd quarter worth approximately $369,000. Wedge Capital Management L L P NC grew its holdings in Columbus McKinnon by 14.3% during the third quarter. Wedge Capital Management L L P NC now owns 41,917 shares of the industrial products company’s stock valued at $1,509,000 after purchasing an additional 5,243 shares during the period. Inspire Investing LLC raised its stake in shares of Columbus McKinnon by 13.9% in the third quarter. Inspire Investing LLC now owns 11,561 shares of the industrial products company’s stock valued at $416,000 after buying an additional 1,414 shares during the period. Finally, SG Americas Securities LLC bought a new position in Columbus McKinnon in the 3rd quarter worth approximately $244,000. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday, August 2nd.

Columbus McKinnon Price Performance

Shares of CMCO stock traded down $0.62 on Monday, reaching $33.75. The company’s stock had a trading volume of 58,683 shares, compared to its average volume of 172,541. The company has a market capitalization of $973.99 million, a P/E ratio of 21.14 and a beta of 1.17. The company has a quick ratio of 1.20, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $33.27 and its 200-day simple moving average is $36.89. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $239.73 million for the quarter, compared to analysts’ expectations of $241.25 million. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. Columbus McKinnon’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.62 earnings per share. As a group, equities analysts predict that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 18th. Stockholders of record on Friday, November 8th will be issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.83%. Columbus McKinnon’s payout ratio is currently 17.28%.

About Columbus McKinnon

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.