Heartland Advisors Inc. Buys 123,025 Shares of Columbus McKinnon Corporation $CMCO

Heartland Advisors Inc. increased its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 26.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 595,100 shares of the industrial products company’s stock after purchasing an additional 123,025 shares during the period. Heartland Advisors Inc. owned approximately 2.07% of Columbus McKinnon worth $10,265,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMCO. Marshall Wace LLP grew its position in Columbus McKinnon by 698.6% in the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after acquiring an additional 635,770 shares during the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in Columbus McKinnon by 100.2% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after acquiring an additional 415,275 shares during the last quarter. Millennium Management LLC grew its position in Columbus McKinnon by 80.3% in the third 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. Hillsdale Investment Management Inc. bought a new position in Columbus McKinnon in the fourth quarter valued at about $6,395,000. Finally, AQR Capital Management LLC grew its position in Columbus McKinnon by 286.0% in the second quarter. AQR Capital Management LLC now owns 476,656 shares of the industrial products company’s stock valued at $7,279,000 after acquiring an additional 353,158 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $12.12 on Thursday. The stock’s 50 day moving average is $15.01 and its 200 day moving average is $17.10. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.99. The firm has a market cap of $349.42 million, a P/E ratio of -2.21 and a beta of 1.38. Columbus McKinnon Corporation has a one year low of $12.10 and a one year high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The company had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.57 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.Columbus McKinnon’s revenue was up 77.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, research analysts expect that Columbus McKinnon Corporation will post 1.7 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 2.3%. Columbus McKinnon’s payout ratio is -5.11%.

Analysts Set New Price Targets

A number of research firms have issued reports on CMCO. JPMorgan Chase & Co. decreased their target price on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. DA Davidson reiterated a “neutral” rating and issued a $20.00 target price on shares of Columbus McKinnon in a research report on Friday, June 5th. Weiss Ratings lowered Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Zacks Research lowered Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen lowered Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a research note on Sunday, March 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $23.50.

Columbus McKinnon Company Profile

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.