Columbus McKinnon Corporation $CMCO Shares Sold by Isthmus Partners LLC

Isthmus Partners LLC trimmed its holdings in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 48.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,881 shares of the industrial products company’s stock after selling 65,816 shares during the period. Isthmus Partners LLC owned about 0.24% of Columbus McKinnon worth $1,097,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CMCO. Integrated Wealth Concepts LLC bought a new stake in Columbus McKinnon in the second quarter worth about $29,000. Squarepoint Ops LLC bought a new position in shares of Columbus McKinnon during the 2nd quarter valued at approximately $1,225,000. Readystate Asset Management LP bought a new position in shares of Columbus McKinnon during the 2nd quarter valued at approximately $675,000. Van Den Berg Management I Inc. grew its position in shares of Columbus McKinnon by 11.8% during the 2nd quarter. Van Den Berg Management I Inc. now owns 534,610 shares of the industrial products company’s stock valued at $8,089,000 after acquiring an additional 56,282 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Columbus McKinnon by 18.2% during the 2nd quarter. Hsbc Holdings PLC now owns 53,933 shares of the industrial products company’s stock worth $797,000 after purchasing an additional 8,292 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Insider Activity

In other Columbus McKinnon news, Director Christopher Stephens purchased 2,750 shares of the stock in a transaction dated Thursday, August 20th. The shares were bought at an average price of $17.14 per share, with a total value of $47,135.00. Following the completion of the transaction, the director directly owned 22,317 shares in the company, valued at approximately $382,513.38. This trade represents a 14.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP John Linker purchased 7,500 shares of the stock in a transaction dated Friday, July 31st. The stock was acquired at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the transaction, the executive vice president owned 7,500 shares of the company’s stock, valued at approximately $147,525. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.09% of the stock is owned by company insiders.

Columbus McKinnon Trading Down 5.8%

Shares of CMCO opened at $13.76 on Friday. Columbus McKinnon Corporation has a fifty-two week low of $11.99 and a fifty-two week high of $24.40. The business has a 50-day moving average of $16.75 and a 200 day moving average of $15.88. The firm has a market cap of $397.11 million, a P/E ratio of -1.84 and a beta of 1.43. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.27 by $0.34. The business had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The company’s revenue was up 125.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, research analysts forecast that Columbus McKinnon Corporation will post 2.00 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Finally, JPMorgan Chase & Co. increased their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $23.00.

About Columbus McKinnon

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.