75,102 Shares in Columbus McKinnon Corporation $CMCO Acquired by Palogic Value Management L.P.

Palogic Value Management L.P. bought a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the second quarter, HoldingsChannel.com reports. The firm bought 75,102 shares of the industrial products company’s stock, valued at approximately $1,136,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. EverSource Wealth Advisors LLC increased its holdings in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 565 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of Columbus McKinnon by 4.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock worth $346,000 after purchasing an additional 850 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Columbus McKinnon by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 852 shares in the last quarter. Royal Bank of Canada grew its stake in 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 valued at $54,000 after purchasing an additional 918 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in Columbus McKinnon by 66.7% in 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 purchasing an additional 1,000 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Insider Buying and Selling

In other Columbus McKinnon news, Director Christopher J. Stephens purchased 2,750 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The shares were bought at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the acquisition, the director owned 22,317 shares in the company, valued at $382,513.38. This represents a 14.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP John R. Linker purchased 7,500 shares of Columbus McKinnon 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 transaction, the executive vice president directly owned 7,500 shares in the company, valued at $147,525. The trade was a ? increase in their position. The SEC filing for this purchase provides additional information. 2.09% of the stock is owned by corporate insiders.

Columbus McKinnon Price Performance

Shares of CMCO opened at $17.98 on Thursday. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The company’s fifty day moving average price is $16.33 and its 200-day moving average price is $16.15. Columbus McKinnon Corporation has a 1-year low of $11.99 and a 1-year high of $24.40. The firm has a market capitalization of $518.90 million, a PE ratio of -2.41 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.34. The company had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm’s revenue was up 125.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts predict that Columbus McKinnon Corporation will post 2.05 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company 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 of this dividend was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Columbus McKinnon’s payout ratio is -3.75%.

Analysts Set New Price Targets

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