Maverick Capital Ltd. Takes Position in Columbus McKinnon Corporation $CMCO

Maverick Capital Ltd. bought a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the first quarter, Holdings Channel reports. The firm bought 36,786 shares of the industrial products company’s stock, valued at approximately $535,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMCO. EverSource Wealth Advisors LLC raised its holdings in Columbus McKinnon by 48.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after buying an additional 565 shares during the period. Group One Trading LLC grew its stake in Columbus McKinnon by 266.7% during the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB increased its position in shares of Columbus McKinnon by 66.7% in the third 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 1,893 shares during the period. Finally, Royal Bank of Canada raised its stake in shares of Columbus McKinnon by 41.4% in the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock valued at $54,000 after acquiring an additional 918 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Trading Down 9.8%

NASDAQ CMCO opened at $14.62 on Thursday. The stock has a market cap of $421.49 million, a P/E ratio of -2.67 and a beta of 1.39. The company’s fifty day simple moving average is $14.45 and its 200-day simple moving average is $16.37. The company has a current ratio of 2.02, a quick ratio of 0.98 and a debt-to-equity ratio of 3.38. Columbus McKinnon Corporation has a 52 week low of $11.99 and a 52 week high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share 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 firm had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.56 million. During the same period in the previous year, the business posted $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 predict that Columbus McKinnon Corporation will post 1.73 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 7th. Columbus McKinnon’s dividend payout ratio is presently -5.11%.

Wall Street Analysts Forecast Growth

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

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.