Cubist Systematic Strategies LLC Takes $961,000 Position in Columbus McKinnon Corporation $CMCO

Key Points

• Cubist Systematic Strategies LLC has acquired 56,766 shares of Columbus McKinnon Corporation, valued at approximately $961,000, representing a 0.20% ownership stake in the company.
• Several large investors, including Signaturefd LLC and Versant Capital Management Inc, have significantly increased their holdings in Columbus McKinnon during the first quarter, indicating strong institutional interest in the stock.
• Columbus McKinnon recently reported a quarterly earnings per share (EPS) of $0.50, surpassing expectations, and announced a $0.07 quarterly dividend with a 1.9% yield.

Cubist Systematic Strategies LLC bought a new position in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 56,766 shares of the industrial products company's stock, valued at approximately $961,000. Cubist Systematic Strategies LLC owned approximately 0.20% of Columbus McKinnon as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CMCO. Bridge City Capital LLC raised its holdings in shares of Columbus McKinnon by 0.9% during the first quarter. Bridge City Capital LLC now owns 97,082 shares of the industrial products company's stock worth $1,644,000 after acquiring an additional 864 shares in the last quarter. Meros Investment Management LP increased its position in Columbus McKinnon by 0.3% in the 4th quarter. Meros Investment Management LP now owns 277,468 shares of the industrial products company's stock worth $10,333,000 after purchasing an additional 962 shares during the last quarter. CWM LLC raised its stake in shares of Columbus McKinnon by 79.2% during the 1st quarter. CWM LLC now owns 3,422 shares of the industrial products company's stock worth $58,000 after purchasing an additional 1,512 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Columbus McKinnon by 8.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,433 shares of the industrial products company's stock valued at $836,000 after buying an additional 1,737 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Columbus McKinnon by 743.4% during the 1st quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company's stock valued at $41,000 after buying an additional 2,141 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Down 3.0%

CMCO traded down $0.45 during midday trading on Friday, hitting $14.44. 196,209 shares of the company's stock traded hands, compared to its average volume of 297,076. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01. The company has a market cap of $414.86 million, a PE ratio of -26.74 and a beta of 1.28. The stock's fifty day simple moving average is $15.02 and its 200-day simple moving average is $15.56. Columbus McKinnon Corporation has a one year low of $11.78 and a one year high of $41.05.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share for the quarter, topping analysts' consensus estimates of $0.47 by $0.03. The company had revenue of $235.92 million during the quarter, compared to analysts' expectations of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. As a group, equities analysts anticipate that Columbus McKinnon Corporation will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 8th. Columbus McKinnon's payout ratio is currently -51.85%.

Columbus McKinnon Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.