Allspring Global Investments Holdings LLC Has $33.16 Million Stake in Columbus McKinnon Co. (NASDAQ:CMCO)

Allspring Global Investments Holdings LLC cut its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 4.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 921,129 shares of the industrial products company’s stock after selling 43,105 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Columbus McKinnon were worth $33,161,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMCO. Raymond James & Associates increased its position in shares of Columbus McKinnon by 14.4% during the 3rd quarter. Raymond James & Associates now owns 73,087 shares of the industrial products company’s stock worth $2,631,000 after purchasing an additional 9,179 shares in the last quarter. Creative Planning bought a new stake in Columbus McKinnon during the third quarter worth about $369,000. Wedge Capital Management L L P NC increased its holdings in shares of 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 worth $1,509,000 after buying an additional 5,243 shares in the last quarter. Inspire Investing LLC increased its holdings in shares of Columbus McKinnon by 13.9% during the third quarter. Inspire Investing LLC now owns 11,561 shares of the industrial products company’s stock worth $416,000 after buying an additional 1,414 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Columbus McKinnon in the third quarter valued at approximately $244,000. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Columbus McKinnon Stock Down 0.9 %

Shares of NASDAQ:CMCO opened at $32.76 on Thursday. Columbus McKinnon Co. has a 12 month low of $29.26 and a 12 month high of $45.84. The firm has a market cap of $945.42 million, a P/E ratio of 20.23 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 company’s 50-day moving average price is $33.31 and its two-hundred day moving average price is $36.73.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The business had revenue of $239.73 million during the quarter, compared to analyst estimates of $241.25 million. During the same quarter last year, the business posted $0.62 earnings per share. Columbus McKinnon’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts forecast that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 18th. Investors of record on Friday, November 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.85%. The ex-dividend date of this dividend is Friday, November 8th. Columbus McKinnon’s dividend payout ratio is 17.28%.

Columbus McKinnon 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.