855,000 Shares in Columbus McKinnon Corporation $CMCO Acquired by Stanley Capital Management LLC

Stanley Capital Management LLC bought a new position in Columbus McKinnon Corporation (NASDAQ:CMCO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 855,000 shares of the industrial products company’s stock, valued at approximately $12,936,000. Columbus McKinnon comprises 1.7% of Stanley Capital Management LLC’s holdings, making the stock its 26th biggest position. Stanley Capital Management LLC owned approximately 2.96% of Columbus McKinnon as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Columbus McKinnon in the second quarter valued at approximately $37,183,000. Marshall Wace LLP raised its holdings in Columbus McKinnon by 698.6% during the 3rd 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 period. Heartland Advisors Inc. purchased a new stake in shares of Columbus McKinnon during the second quarter worth $8,242,000. AQR Capital Management LLC boosted its holdings in shares of Columbus McKinnon by 76.8% in the fourth quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after acquiring an additional 481,470 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC boosted 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 worth $11,900,000 after acquiring an additional 415,275 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CMCO shares. DA Davidson lowered their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 7th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. JPMorgan Chase & Co. lifted their price objective on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Finally, Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $23.00.

Insider Activity

In related news, Director Christopher J. Stephens purchased 2,750 shares of Columbus McKinnon stock in a transaction that occurred on Thursday, August 20th. The shares were acquired at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the transaction, the director directly owned 22,317 shares in the company, valued at $382,513.38. The trade was a 14.05% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John R. Linker purchased 7,500 shares of the firm’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the purchase, the executive vice president directly owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 2.09% of the company’s stock.

Columbus McKinnon Trading Down 0.9%

CMCO stock opened at $17.79 on Wednesday. The company has a market capitalization of $513.49 million, a PE ratio of -2.38 and a beta of 1.37. Columbus McKinnon Corporation has a one year low of $11.99 and a one year high of $24.40. The company’s 50 day moving average price is $16.25 and its two-hundred day moving average price is $16.17. 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 announced its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s 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 predict that Columbus McKinnon Corporation will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a dividend of $0.07 per share. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.6%. Columbus McKinnon’s dividend payout ratio is currently -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.