Cubist Systematic Strategies LLC decreased its position in Columbus McKinnon Co. (NASDAQ:CMCO – Get Rating) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,368 shares of the industrial products company's stock after selling 2,537 shares during the quarter. Cubist Systematic Strategies LLC owned 0.09% of Columbus McKinnon worth $637,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Millennium Management LLC bought a new stake in Columbus McKinnon during the second quarter worth about $4,663,000. Renaissance Technologies LLC increased its holdings in Columbus McKinnon by 734.1% during the 2nd quarter. Renaissance Technologies LLC now owns 114,985 shares of the industrial products company's stock valued at $3,262,000 after purchasing an additional 101,200 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Columbus McKinnon by 3.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,654,253 shares of the industrial products company's stock valued at $43,274,000 after purchasing an additional 62,842 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Columbus McKinnon by 5.7% in the second quarter. Lazard Asset Management LLC now owns 1,065,802 shares of the industrial products company's stock worth $30,236,000 after purchasing an additional 57,370 shares in the last quarter. Finally, Citadel Advisors LLC grew its holdings in shares of Columbus McKinnon by 70.1% during the second quarter. Citadel Advisors LLC now owns 133,588 shares of the industrial products company's stock worth $3,790,000 after purchasing an additional 55,045 shares during the last quarter. Institutional investors and hedge funds own 96.01% of the company's stock.

Columbus McKinnon Trading Down 3.4 %

CMCO stock opened at $36.76 on Friday. The company has a quick ratio of 1.22, a current ratio of 2.15 and a debt-to-equity ratio of 0.54. Columbus McKinnon Co. has a twelve month low of $23.54 and a twelve month high of $46.54. The company has a market cap of $1.05 billion, a P/E ratio of 22.83 and a beta of 1.23. The business has a fifty day moving average of $36.33 and a 200-day moving average of $31.92.

Columbus McKinnon (NASDAQ:CMCO – Get Rating) last announced its quarterly earnings data on Wednesday, February 1st. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.12. Columbus McKinnon had a return on equity of 10.72% and a net margin of 4.95%. The firm had revenue of $230.40 million during the quarter, compared to analysts' expectations of $228.49 million. During the same period in the previous year, the business posted $0.60 EPS. The company's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, equities research analysts expect that Columbus McKinnon Co. will post 2.87 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 21st. Shareholders of record on Friday, February 10th were issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date was Thursday, February 9th. Columbus McKinnon's dividend payout ratio is presently 17.39%.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of Columbus McKinnon from a "hold" rating to a "buy" rating in a research report on Monday, November 14th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.00.

About Columbus McKinnon

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Columbus McKinnon Corp. engages in the design, manufacture, and marketing of material handling products and systems. Its products include hoists, chain and rigging tools, digital power control and delivery systems, actuators and rotary unions, industrial cranes, and elevator application drive systems which are distributed through STAHL, Herc-Alloy, Magnetek, Duff-Norton, Pfaff, and other brands.

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