Renaissance Technologies LLC Increases Stake in Columbus McKinnon Corporation $CMCO

Renaissance Technologies LLC grew its holdings in Columbus McKinnon Corporation (NASDAQ:CMCO) by 232.5% during the 1st quarter, Holdings Channel reports. The fund owned 369,323 shares of the industrial products company’s stock after buying an additional 258,238 shares during the period. Renaissance Technologies LLC’s holdings in Columbus McKinnon were worth $5,366,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Sei Investments Co. grew its position 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 during the period. Heartland Advisors Inc. increased its stake in shares of Columbus McKinnon by 16.6% in the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Columbus McKinnon by 66.3% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 29,618 shares of the industrial products company’s stock worth $424,000 after purchasing an additional 11,807 shares during the period. Isthmus Partners LLC lifted its position in Columbus McKinnon by 3.4% during the first quarter. Isthmus Partners LLC now owns 124,049 shares of the industrial products company’s stock valued at $1,802,000 after purchasing an additional 4,063 shares in the last quarter. Finally, Strs Ohio lifted its position in Columbus McKinnon by 88.9% during the first quarter. Strs Ohio now owns 17,000 shares of the industrial products company’s stock valued at $247,000 after purchasing an additional 8,000 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on CMCO shares. Wall Street Zen cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. 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. Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. raised their target price on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Columbus McKinnon currently has an average rating of “Hold” and an average target price of $23.00.

Columbus McKinnon Trading Down 0.4%

Shares of CMCO stock opened at $21.50 on Thursday. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-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. The firm has a market capitalization of $620.49 million, a PE ratio of -2.88 and a beta of 1.37. The stock has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $16.38.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $531.46 million for the quarter, compared to analysts’ expectations of $501.27 million. During the same period last year, the firm earned $0.50 earnings per share. The business’s quarterly 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. On average, analysts predict that Columbus McKinnon Corporation will post 2 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 7th. Columbus McKinnon’s dividend payout ratio (DPR) is -3.75%.

Insider Buying and Selling

In other Columbus McKinnon news, EVP John R. Linker purchased 7,500 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were bought at an average cost of $19.67 per share, with a total value of $147,525.00. Following the acquisition, the executive vice president owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.09% of the company’s stock.

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.