Sei Investments Co. Increases Stock Position in Columbus McKinnon Corporation $CMCO

Sei Investments Co. lifted its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 89.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 186,969 shares of the industrial products company’s stock after acquiring an additional 88,285 shares during the quarter. Sei Investments Co.’s holdings in Columbus McKinnon were worth $2,717,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its holdings in Columbus McKinnon by 32.4% in the first quarter. AQR Capital Management LLC now owns 123,498 shares of the industrial products company’s stock worth $2,091,000 after purchasing an additional 30,255 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Columbus McKinnon by 5.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company’s stock valued at $3,739,000 after buying an additional 10,780 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Columbus McKinnon by 1,222.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 17,696 shares of the industrial products company’s stock valued at $270,000 after buying an additional 16,358 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Columbus McKinnon in the 2nd quarter worth $1,658,000. Finally, Marshall Wace LLP purchased a new position in shares of Columbus McKinnon in the 2nd quarter worth $1,390,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMCO has been the subject of several research analyst reports. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. DA Davidson dropped their target price on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $23.00.

Insider Transactions at Columbus McKinnon

In other Columbus McKinnon news, EVP John R. Linker purchased 7,500 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were acquired at an average cost of $19.67 per share, with a total value of $147,525.00. Following the completion of the acquisition, the executive vice president directly 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 legal filing with the SEC, which is available through the SEC website. Insiders own 2.09% of the company’s stock.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $20.22 on Friday. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. Columbus McKinnon Corporation has a 1-year low of $11.99 and a 1-year high of $24.40. The company has a market capitalization of $583.63 million, a P/E ratio of -2.71 and a beta of 1.37. The firm’s 50 day simple moving average is $15.16 and its two-hundred day simple moving average is $16.41.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The firm had revenue of $531.46 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 125.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Research analysts expect that Columbus McKinnon Corporation will post 2.05 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders 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 yield of 1.4%. The ex-dividend date is Friday, August 7th. Columbus McKinnon’s dividend payout ratio is presently -3.75%.

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.