Renaissance Technologies LLC Acquires 258,238 Shares of Columbus McKinnon Corporation $CMCO

Renaissance Technologies LLC grew its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 232.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 369,323 shares of the industrial products company’s stock after purchasing an additional 258,238 shares during the period. Renaissance Technologies LLC owned approximately 1.29% of Columbus McKinnon worth $5,366,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its holdings in shares of Columbus McKinnon by 48.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after purchasing an additional 565 shares during the last quarter. Group One Trading LLC increased its position in Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after buying an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB raised its stake in Columbus McKinnon by 66.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after buying an additional 1,000 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Columbus McKinnon by 267.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Columbus McKinnon by 41.4% in the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 918 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Insider Activity at Columbus McKinnon

In other news, EVP John R. Linker acquired 7,500 shares of Columbus McKinnon stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president owned 7,500 shares in the company, valued at $147,525. The trade was a ? increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.09% of the stock is owned by insiders.

Columbus McKinnon Stock Performance

Shares of NASDAQ CMCO opened at $21.50 on Thursday. The firm’s 50-day moving average price is $14.98 and its 200-day moving average price is $16.38. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-week high of $24.40. The company has a market cap of $620.49 million, a PE ratio of -2.88 and a beta of 1.37. 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 (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The firm had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. During the same period in the previous year, the company earned $0.50 earnings per share. The firm’s quarterly revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, analysts anticipate that Columbus McKinnon Corporation will post 2 EPS for the current year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is -3.75%.

Analyst Ratings Changes

Several research analysts have issued reports on CMCO shares. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research cut shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. DA Davidson reduced 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 shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $23.00.

About Columbus McKinnon

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.