40,225 Shares in Columbus McKinnon Corporation $CMCO Acquired by K2 Principal Fund L.P.

K2 Principal Fund L.P. acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 40,225 shares of the industrial products company’s stock, valued at approximately $694,000. K2 Principal Fund L.P. owned about 0.14% of Columbus McKinnon at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC boosted its stake in Columbus McKinnon by 18.1% during the 4th quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 545 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 565 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Columbus McKinnon by 4.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 850 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Columbus McKinnon by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock worth $166,000 after acquiring an additional 852 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Columbus McKinnon by 66.7% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

NASDAQ CMCO opened at $13.83 on Friday. The company has a quick ratio of 0.99, a current ratio of 2.02 and a debt-to-equity ratio of 3.38. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40. The company has a market capitalization of $398.72 million, a PE ratio of -2.52 and a beta of 1.38. The firm’s 50 day moving average is $14.98 and its 200-day moving average is $17.06.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data 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). Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.57 million. During the same quarter last year, the business earned $0.60 earnings per share. Columbus McKinnon’s revenue for the quarter was up 77.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Equities research analysts anticipate that Columbus McKinnon Corporation will post 1.73 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Stockholders of record on Friday, May 1st were issued a $0.07 dividend. The ex-dividend date was Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 2.0%. Columbus McKinnon’s dividend payout ratio (DPR) is -5.11%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Research raised shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. DA Davidson reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Columbus McKinnon in a research note on Friday, June 5th. Weiss Ratings lowered shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Columbus McKinnon 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.