First Hawaiian Bank Takes Position in Columbus McKinnon Co. (NASDAQ:CMCO)

First Hawaiian Bank bought a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 10,467 shares of the industrial products company’s stock, valued at approximately $362,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. TFO Wealth Partners LLC grew its holdings in shares of Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,344 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Columbus McKinnon during the fourth quarter valued at approximately $215,000. ProShare Advisors LLC purchased a new stake in shares of Columbus McKinnon in the first quarter valued at approximately $226,000. Carmel Capital Partners LLC grew its stake in 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 purchasing an additional 5,326 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Columbus McKinnon in the 4th quarter worth $258,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Stock Down 0.6 %

Shares of NASDAQ CMCO traded down $0.20 during mid-day trading on Tuesday, reaching $33.53. 96,638 shares of the company were exchanged, compared to its average volume of 159,343. Columbus McKinnon Co. has a 1 year low of $30.29 and a 1 year high of $45.84. The firm has a 50-day moving average of $36.18 and a 200 day moving average of $39.99. The stock has a market cap of $968.35 million, a price-to-earnings ratio of 20.67 and a beta of 1.21. The company has a quick ratio of 1.25, a current ratio of 2.07 and a debt-to-equity ratio of 0.52.

Columbus McKinnon (NASDAQ:CMCO) last released 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. The business 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%. The company’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $0.62 EPS. On average, research analysts expect that Columbus McKinnon Co. will post 3.18 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Friday, August 9th will be given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, August 9th. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Insider Buying and Selling at Columbus McKinnon

In related news, Director Christopher J. Stephens acquired 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was purchased at an average cost of $38.71 per share, with a total value of $58,065.00. Following the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at approximately $58,065. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.98% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on CMCO. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. assumed coverage on shares of Columbus McKinnon in a report on Tuesday, June 4th. They issued an “overweight” rating and a $53.00 price target for the company.

About Columbus McKinnon

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.