76,510 Shares in Columbus McKinnon Corporation $CMCO Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management purchased 76,510 shares of Columbus McKinnon, worth approximately $1.16 million, giving it a 0.27% stake. Institutional investors collectively own 95.96% of the company.
• Analyst views remain mixed, but MarketBeat reports a consensus rating of “Moderate Buy” with an average price target of $23.00; recent actions ranged from a sell downgrade to a price-target increase and strong-buy upgrade.
• Columbus McKinnon beat quarterly expectations with EPS of $0.61 versus $0.27 expected and revenue of $531.46 million, up 125.3% year over year. Company insiders also recently bought shares, while the firm maintains a $0.07 quarterly dividend.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 76,510 shares of the industrial products company's stock, valued at approximately $1,158,000. Connor Clark & Lunn Investment Management Ltd. owned 0.27% of Columbus McKinnon as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CMCO. EverSource Wealth Advisors LLC grew 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 worth $30,000 after buying an additional 565 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in shares of Columbus McKinnon by 4.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company's stock valued at $346,000 after acquiring an additional 850 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Columbus McKinnon by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company's stock worth $166,000 after acquiring an additional 852 shares in the last quarter. Royal Bank of Canada boosted 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 acquiring an additional 918 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its holdings in shares of Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company's stock worth $36,000 after acquiring an additional 1,000 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CMCO. Wall Street Zen downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. DA Davidson lowered their target price on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, June 15th. Weiss Ratings cut Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. JPMorgan Chase & Co. lifted their price target on Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. Finally, Zacks Research raised Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Two investment analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $23.00.

Insiders Place Their Bets

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

Columbus McKinnon Price Performance

CMCO stock opened at $18.00 on Monday. 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 company's 50 day simple moving average is $16.47 and its 200-day simple moving average is $16.08. Columbus McKinnon Corporation has a 12 month low of $11.99 and a 12 month high of $24.40. The firm has a market capitalization of $519.48 million, a PE ratio of -2.41 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings data 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. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm had revenue of $531.46 million during the quarter, compared to the consensus estimate of $501.27 million. During the same period in the previous year, the firm posted $0.50 EPS. The company's quarterly revenue 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. Equities analysts expect that Columbus McKinnon Corporation will post 2.05 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Columbus McKinnon's 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.

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