Stanley Capital Management LLC Purchases Shares of 855,000 Columbus McKinnon Corporation $CMCO

Stanley Capital Management LLC acquired a new position in Columbus McKinnon Corporation (NASDAQ:CMCO) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 855,000 shares of the industrial products company’s stock, valued at approximately $12,936,000. Columbus McKinnon accounts for 1.7% of Stanley Capital Management LLC’s holdings, making the stock its 26th biggest position.

A number of other large investors have also recently made changes to their positions in CMCO. EverSource Wealth Advisors LLC raised its holdings in shares of 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. Group One Trading LLC increased its position in Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB increased its position in 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 during the period. Tower Research Capital LLC TRC raised its holdings in Columbus McKinnon by 267.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Legal & General Group Plc purchased a new stake in shares of Columbus McKinnon in the 2nd quarter worth about $44,000. 95.96% of the stock is currently owned by institutional investors.

Insider Activity at Columbus McKinnon

In related news, Director Christopher J. Stephens purchased 2,750 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $17.14 per share, with a total value of $47,135.00. Following the acquisition, the director directly owned 22,317 shares in the company, valued at $382,513.38. The trade was a 14.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP John R. Linker bought 7,500 shares of the business’s stock in a transaction on Friday, July 31st. The stock was bought at an average cost of $19.67 per share, with a total value of $147,525.00. Following the transaction, the executive vice president owned 7,500 shares in the company, valued at $147,525. This trade represents a ∞ increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. DA Davidson lowered their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a 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. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Finally, Weiss Ratings lowered Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Two equities research 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Columbus McKinnon Price Performance

CMCO opened at $17.79 on Wednesday. The stock has a 50-day moving average price of $16.25 and a 200-day moving average price of $16.17. 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 firm has a market cap of $513.49 million, a PE ratio of -2.38 and a beta of 1.37. Columbus McKinnon Corporation has a 1 year low of $11.99 and a 1 year high of $24.40.

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

Columbus McKinnon Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were given 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 1.6%. Columbus McKinnon’s dividend payout ratio is -3.75%.

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.