BlackRock Fund Advisors recently announced the acquisition of new stake in Columbus McKinnon Corporation (NASDAQ:CMCO). The institutional investor has increased its shareholding in the Industrials company by 0.47% to 1.73 million shares with purchase of 8127.0 shares. This fresh investment now brings its stake to 6.05% valued currently at $56.19 million. In addition, Dimensional Fund Advisors LP raised its holdings by 62842.0 to 1.65 million shares. And Macquarie Investment Management B has lifted its position by 1.82% or 26221.0 shares – to 1.46 million shares.
With over 0.11 million Columbus McKinnon Corporation (CMCO) shares trading Tuesday and a closing price of $34.80 on the day, the dollar volume was approximately $3.8 million. The shares have shown a positive half year performance of 12.04% and its price on 01/24/23 lost nearly -0.60%. Currently, there are 28.62M common shares owned by the public and among those 27.94M shares have been available to trade.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 5 analysts who have offered their price forecasts for CMCO have a consensus price objective of $37.40. The analysts have set the share’s price value over the next 12 months at a high of $40.00 and a low of $35.00. The average price target is 6.95% above its recent price level and an upside to the estimated low will see the stock gain 0.57% over that period. But an upside of 13.0% will see the stock hit the forecast high price target while median target price for the stock is $37.00.
Insiders at the company have transacted a total of 123 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 76 of these insider trades were purchases, accounting for 116,939 shares. Insider sales of the common stock occurred on 47 occasions, with total insider shares sold totaling 84,331 shares.
The top 3 mutual fund holders in Columbus McKinnon Corporation are Delaware Small Cap Core Fund, Allspring Special Small Cap Value, and Victory Sycamore Small Company Op. Delaware Small Cap Core Fund owns 1.18 million shares of the company’s stock, all valued at over $38.35 million. The company bought an additional 9330.0 shares recently to bring their total holdings to about 4.13% of the shares outstanding. Victory Sycamore Small Company Op now owns shares totaling to 3.28% of the shares outstanding.
Shares of Columbus McKinnon Corporation (NASDAQ: CMCO) opened at $34.80, down -$0.21 from a prior closing price of $35.01. However, the script later moved the day high at 34.93, down -0.60%. The company’s stock has a 5-day price change of -2.44% and 37.06% over the past three months. CMCO shares are trading 7.18% year to date (YTD), with the 12-month market performance down to -25.48% lower. It has a 12-month low price of $23.54 and touched a high of $48.78 over the same period. CMCO has an average intraday trading volume of 142.46K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 2.71%, 7.08%, and 10.44% respectively.
Institutional ownership of Columbus McKinnon Corporation (NASDAQ: CMCO) shares accounts for 99.86% of the company’s 28.62M shares outstanding. Mutual fund holders own 42.42%, while other institutional holders and individual stakeholders account for 54.32% and 12.58% respectively.
It has a market capitalization of $985.19M and a beta (3y monthly) value of 1.26. The stock’s trailing 12-month PE ratio is 22.66, while the earnings-per-share (ttm) stands at $1.54. The company has a PEG of 0.99 and a Quick Ratio of 1.20 with the debt-to-equity ratio at 0.63. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.10% over the week and 2.93% over the month.
Analysts forecast that Columbus McKinnon Corporation (CMCO) will achieve an EPS of $0.63 for the current quarter, $0.87 for the next quarter and $3.28 for 2024. The lowest estimate earnings-per-share for the quarter is $0.56 while analysts give the company a high EPS estimate of $0.66. Comparatively, EPS for the current quarter was $0.6 a year ago. Earnings per share for the fiscal year are expected to increase by 177.20%, and 0.07% over the next financial year. EPS should grow at an annualized rate of 23.00% over the next five years, compared to 19.40% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 5 brokerage firm advisors rate Columbus McKinnon Corporation (CMCO) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 4 Wall Street analysts polled rate the stock as a buy, while 1 of the 5 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the CMCO, a number of firms have released research notes about the stock. JP Morgan stated their Neutral rating for the stock in a research note on May 26, 2022, with the firm’s price target at $37. Craig Hallum coverage for the Columbus McKinnon Corporation (CMCO) stock in a research note released on May 25, 2022 offered a Hold rating with a price target of $35. JP Morgan was of a view on December 07, 2021 that the stock is Overweight, while Wells Fargo gave the stock Overweight rating on May 03, 2021, issuing a price target of $70. DA Davidson on their part issued Buy rating on February 26, 2021.
