265,105 Shares in Columbus McKinnon Corporation $CMCO Purchased by Empowered Funds LLC

Empowered Funds LLC acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 265,105 shares of the industrial products company’s stock, valued at approximately $4,011,000.

A number of other large investors also recently added to or reduced their stakes in CMCO. Sei Investments Co. boosted its stake in shares of Columbus McKinnon by 89.5% in the 1st quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company’s stock valued at $2,717,000 after purchasing an additional 88,285 shares during the last quarter. First Eagle Investment Management LLC bought a new stake in shares of Columbus McKinnon during the fourth quarter worth approximately $2,465,000. Heartland Advisors Inc. raised its stake in shares of Columbus McKinnon by 16.6% during the first quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company’s stock worth $10,085,000 after buying an additional 98,950 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Columbus McKinnon by 232.5% in the first quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock valued at $5,366,000 after buying an additional 258,238 shares during the period. Finally, Stanley Capital Management LLC acquired a new position in Columbus McKinnon in the second quarter valued at approximately $12,936,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Christopher J. Stephens bought 2,750 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the acquisition, the director owned 22,317 shares of the company’s stock, valued at approximately $382,513.38. This represents a 14.05% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP John R. Linker purchased 7,500 shares of the business’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the purchase, the executive vice president owned 7,500 shares of the company’s stock, valued at approximately $147,525. This represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.09% of the company’s stock.

Columbus McKinnon Price Performance

CMCO opened at $17.66 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. Columbus McKinnon Corporation has a 12 month low of $11.99 and a 12 month high of $24.40. The company has a fifty day simple moving average of $16.53 and a 200 day simple moving average of $16.05. The stock has a market cap of $509.74 million, a P/E ratio of -2.37 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. During the same period in the previous year, the company posted $0.50 earnings per share. The company’s revenue for the quarter was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, research analysts expect that Columbus McKinnon Corporation will post 2.05 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Friday, August 7th. Columbus McKinnon’s payout ratio is -3.75%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CMCO. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. JPMorgan Chase & Co. increased their price target on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings lowered Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Finally, DA Davidson lowered their price target 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. Two research 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 assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.00.

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.