10,467 Shares in Columbus McKinnon Co. (NASDAQ:CMCO) Acquired by First Hawaiian Bank

First Hawaiian Bank purchased a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) in the second quarter, HoldingsChannel reports. The institutional investor purchased 10,467 shares of the industrial products company’s stock, valued at approximately $362,000.

Other hedge funds also recently modified their holdings of the company. Boston Partners bought a new position in Columbus McKinnon during the first quarter valued at about $847,000. Comerica Bank boosted its position in shares of Columbus McKinnon by 214.3% during the 1st quarter. Comerica Bank now owns 12,262 shares of the industrial products company’s stock valued at $547,000 after purchasing an additional 8,361 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Columbus McKinnon in the 1st quarter worth approximately $259,000. Aristides Capital LLC bought a new stake in shares of Columbus McKinnon in the 1st quarter worth approximately $261,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in Columbus McKinnon by 6.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 17,384 shares of the industrial products company’s stock valued at $776,000 after purchasing an additional 995 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 1,500 shares of Columbus McKinnon stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $38.71 per share, with a total value of $58,065.00. Following the completion of the transaction, the director now directly owns 1,500 shares of the company’s stock, valued at $58,065. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.98% of the company’s stock.

Columbus McKinnon Trading Down 0.6 %

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

Columbus McKinnon (NASDAQ:CMCO) last released its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The company had revenue of $239.73 million during the quarter, compared to analyst estimates of $241.25 million. During the same quarter in the prior year, the company earned $0.62 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Columbus McKinnon Co. will post 3.18 EPS for the current year.

Columbus McKinnon Announces Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on CMCO. JPMorgan Chase & Co. initiated coverage on shares of Columbus McKinnon in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $53.00 price target on the stock. StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Friday.

Columbus McKinnon Company 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.