Spitfire Capital buys $8,311,700 stake in Columbus McKinnon Corp. (CMCO)

Columbus McKinnon Corp. (CMCO) : Spitfire Capital scooped up 1,100 additional shares in Columbus McKinnon Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 12, 2016. The investment management firm now holds a total of 506,811 shares of Columbus McKinnon Corp. which is valued at $8,311,700.Columbus McKinnon Corp. makes up approximately 3.48% of Spitfire Capital’s portfolio.

Other Hedge Funds, Including , D.c. Capital Advisors Ltd added CMCO to its portfolio by purchasing 50,000 company shares during the most recent quarter which is valued at $820,000. Columbus McKinnon Corp. makes up approx 0.46% of D.c. Capital Advisors Ltd’s portfolio.Fmr reduced its stake in CMCO by selling 610,813 shares or 88.42% in the most recent quarter. The Hedge Fund company now holds 80,000 shares of CMCO which is valued at $1,312,000.Blackrock Advisors reduced its stake in CMCO by selling 618 shares or 6.54% in the most recent quarter. The Hedge Fund company now holds 8,832 shares of CMCO which is valued at $144,845.Blackrock Fund Advisors reduced its stake in CMCO by selling 7,576 shares or 1.49% in the most recent quarter. The Hedge Fund company now holds 501,658 shares of CMCO which is valued at $8,227,191.

Columbus McKinnon Corp. opened for trading at $17.45 and hit $17.65 on the upside on Monday, eventually ending the session at $17.52, with a gain of 0.40% or 0.07 points. The heightened volatility saw the trading volume jump to 28,324 shares. Company has a market cap of $354 M.

On the company’s financial health, Columbus McKinnon Corp. reported $0.32 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.31. The company had revenue of $149.00 million for the quarter, compared to analysts expectations of $147.50 million. The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 EPS.

Columbus McKinnon Corporation is a global designer manufacturer and marketer of hoists rigging tools cranes actuators and other material handling products serving a range of commercial and industrial end user markets. The Company’s products include a range of electric air-powered lever and hand hoists hoist trolleys winches industrial crane systems such as steel bridge gantry and jib cranes and aluminum work station cranes; alloy and carbon steel chain; forged attachments such as hooks shackles textile slings clamps logging tools and load binders; mechanical and electromechanical actuators and rotary unions; below-the-hook special purpose lifters and tire shredders. The Company’s products are used in a range of industries including manufacturing power generation and distribution utilities wind power warehouses commercial construction oil and gas exploration and refining ship building transportation and heavy duty trucking agriculture logging and mining.

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