59,126 Shares in Columbus McKinnon Corporation $CMCO Acquired by Ieq Capital LLC

Ieq Capital LLC acquired a new stake in Columbus McKinnon Corporation (NASDAQ:CMCO) in the 2nd quarter, HoldingsChannel.com reports. The fund acquired 59,126 shares of the industrial products company’s stock, valued at approximately $895,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in shares of Columbus McKinnon by 89.5% during the 1st quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company’s stock valued at $2,717,000 after acquiring an additional 88,285 shares in the last quarter. First Eagle Investment Management LLC bought a new position in Columbus McKinnon in the fourth quarter valued at about $2,465,000. Renaissance Technologies LLC boosted its stake in shares of Columbus McKinnon by 232.5% during the first quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock valued at $5,366,000 after purchasing an additional 258,238 shares in the last quarter. Heartland Advisors Inc. grew its holdings in shares of Columbus McKinnon by 16.6% during the first quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company’s stock worth $10,085,000 after purchasing an additional 98,950 shares during the last quarter. Finally, Bernzott Capital Advisors increased its stake in shares of Columbus McKinnon by 83.0% in the fourth quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company’s stock valued at $9,329,000 after buying an additional 245,222 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Insider Buying and Selling

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

Columbus McKinnon Stock Performance

CMCO stock opened at $18.39 on Friday. The stock has a 50-day moving average price of $16.40 and a 200-day moving average price of $16.12. Columbus McKinnon Corporation has a 1-year low of $11.99 and a 1-year high of $24.40. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The firm has a market cap of $530.74 million, a PE ratio of -2.47 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The company had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. During the same quarter in the prior year, the company earned $0.50 EPS. The firm’s revenue for the quarter 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. As a group, equities research analysts expect 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. Shareholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $0.28 annualized dividend and a yield of 1.5%. Columbus McKinnon’s payout ratio is -3.75%.

Wall Street Analyst Weigh In

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