Columbus McKinnon Corporation $CMCO Shares Acquired by Van Den Berg Management I Inc.

Van Den Berg Management I Inc. raised its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 16.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 379,019 shares of the industrial products company’s stock after acquiring an additional 54,216 shares during the period. Columbus McKinnon makes up 1.5% of Van Den Berg Management I Inc.’s holdings, making the stock its 29th biggest holding. Van Den Berg Management I Inc. owned approximately 1.32% of Columbus McKinnon worth $6,538,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in CMCO. Marshall Wace LLP increased its position in shares of Columbus McKinnon by 698.6% during 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 holdings in shares of 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 purchasing an additional 415,275 shares in the last quarter. Millennium Management LLC grew its holdings in shares of 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 purchasing an additional 379,096 shares in the last quarter. Hillsdale Investment Management Inc. acquired a new position in shares of Columbus McKinnon in the fourth quarter valued at approximately $6,395,000. Finally, AQR Capital Management LLC grew its holdings in shares of 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 purchasing an additional 353,158 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Down 7.4%

Shares of Columbus McKinnon stock opened at $13.92 on Wednesday. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-week high of $24.40. The company has a 50 day moving average of $15.00 and a 200 day moving average of $17.05. The company has a quick ratio of 0.98, a current ratio of 2.02 and a debt-to-equity ratio of 3.38. The company has a market capitalization of $401.31 million, a P/E ratio of -2.54 and a beta of 1.38.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results 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 positive return on equity of 7.09% and a negative net margin of 19.23%.The firm had revenue of $437.83 million during the quarter, compared to analysts’ expectations of $419.57 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The firm’s revenue was up 77.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, research analysts forecast that Columbus McKinnon Corporation will post 1.73 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CMCO shares. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. DA Davidson dropped their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Monday. JPMorgan Chase & Co. dropped their price objective on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Finally, Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Two investment analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.