Readystate Asset Management LP Invests $675,000 in Columbus McKinnon Corporation $CMCO

Readystate Asset Management LP purchased a new stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 44,632 shares of the industrial products company’s stock, valued at approximately $675,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in CMCO. EverSource Wealth Advisors LLC raised its position in Columbus McKinnon by 48.0% during the fourth 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 in the last quarter. Pacific Ridge Capital Partners LLC boosted its position in Columbus McKinnon by 4.4% in 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 in the last quarter. The Manufacturers Life Insurance Company boosted its position in Columbus McKinnon by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock worth $166,000 after purchasing an additional 852 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after purchasing an additional 918 shares during the period. Finally, Wilmington Savings Fund Society FSB increased its holdings in shares of Columbus McKinnon by 66.7% during the 3rd 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 in the last quarter. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $18.84 on Tuesday. The business’s 50 day moving average price is $16.91 and its 200-day moving average price is $15.94. 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 $543.72 million, a price-to-earnings ratio of -2.53 and a beta of 1.36. 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 (NASDAQ:CMCO) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping 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 period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts forecast that Columbus McKinnon Corporation will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors 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 dividend on an annualized basis and a yield of 1.5%. Columbus McKinnon’s dividend payout ratio (DPR) is currently -3.75%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on CMCO shares. JPMorgan Chase & Co. boosted their target price 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. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. DA Davidson lowered their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Finally, Weiss Ratings lowered 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 issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Columbus McKinnon presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Transactions at Columbus McKinnon

In other news, 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, with a total value of $47,135.00. Following the completion of the acquisition, the director directly owned 22,317 shares of the company’s stock, valued at $382,513.38. The trade was a 14.05% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John R. Linker bought 7,500 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the transaction, 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 SEC filing for this purchase provides additional information. Company insiders own 2.09% of the company’s stock.

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.