Columbus McKinnon Corporation $CMCO Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its position in Columbus McKinnon Corporation (NASDAQ:CMCOFree Report) by 11.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 290,603 shares of the industrial products company’s stock after selling 37,273 shares during the period. Systematic Financial Management LP’s holdings in Columbus McKinnon were worth $4,222,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CMCO. Vanguard Group Inc. boosted its position in Columbus McKinnon by 3.4% during the third quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock worth $26,873,000 after acquiring an additional 62,267 shares during the last quarter. Invesco Ltd. grew its stake in Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock worth $25,135,000 after acquiring an additional 5,210 shares during the period. AQR Capital Management LLC raised its holdings in Columbus McKinnon by 76.8% in the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock valued at $19,121,000 after acquiring an additional 481,470 shares during the last quarter. Millennium Management LLC raised its holdings in Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock valued at $12,203,000 after acquiring an additional 379,096 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its stake in shares of Columbus McKinnon by 100.2% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock worth $11,900,000 after purchasing an additional 415,275 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on CMCO shares. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. DA Davidson dropped their target price on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, June 15th. Wall Street Zen downgraded Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, Weiss Ratings lowered Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $22.00.

Check Out Our Latest Report on Columbus McKinnon

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $16.12 on Friday. The company has a debt-to-equity ratio of 3.38, a quick ratio of 0.98 and a current ratio of 2.02. The firm has a market capitalization of $464.74 million, a price-to-earnings ratio of -2.94 and a beta of 1.39. Columbus McKinnon Corporation has a one year low of $11.99 and a one year high of $24.40. The company has a 50 day moving average price of $14.35 and a 200 day moving average price of $16.45.

Columbus McKinnon (NASDAQ:CMCOGet Free Report) last posted its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The firm had revenue of $437.83 million for the quarter, compared to analysts’ expectations of $419.56 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. Columbus McKinnon’s revenue was up 77.3% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Sell-side analysts anticipate that Columbus McKinnon Corporation will post 1.73 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be given a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Columbus McKinnon’s dividend payout ratio is presently -5.11%.

Columbus McKinnon Profile

(Free Report)

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.

Further Reading

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Institutional Ownership by Quarter for Columbus McKinnon (NASDAQ:CMCO)

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