Polar Asset Management Partners Inc. Invests $1.04 Million in Columbus McKinnon Corporation $CMCO

Polar Asset Management Partners Inc. acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 68,600 shares of the industrial products company’s stock, valued at approximately $1,038,000. Polar Asset Management Partners Inc. owned approximately 0.24% of Columbus McKinnon as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. BlackRock Inc. purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at approximately $37,183,000. Stanley Capital Management LLC purchased a new position in Columbus McKinnon during the 2nd quarter valued at $12,936,000. Marshall Wace LLP raised its position in shares of Columbus McKinnon by 698.6% in the 3rd quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock worth $10,422,000 after acquiring an additional 635,770 shares in the last quarter. Heartland Advisors Inc. bought a new stake in Columbus McKinnon during the second quarter worth about $8,242,000. Finally, AQR Capital Management LLC boosted its position in shares of Columbus McKinnon by 76.8% in the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after purchasing an additional 481,470 shares in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CMCO. DA Davidson lowered their price objective 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. 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 report on Friday, July 31st. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Columbus McKinnon presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insiders Place Their Bets

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

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $17.98 on Thursday. The firm has a market capitalization of $518.90 million, a PE ratio of -2.41 and a beta of 1.37. The stock’s fifty day moving average is $16.33 and its 200 day moving average is $16.15. Columbus McKinnon Corporation has a fifty-two week low of $11.99 and a fifty-two week high of $24.40. 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 posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping 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 company had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. During the same period in the previous year, the firm earned $0.50 earnings per share. Columbus McKinnon’s quarterly revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, sell-side analysts anticipate that Columbus McKinnon Corporation will post 2.05 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is currently -3.75%.

Columbus McKinnon Company 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.