Arrowstreet Capital Limited Partnership Sells 54,149 Shares of Columbus McKinnon Corporation $CMCO

Key Points

• Arrowstreet Capital cut its Columbus McKinnon stake by 56.1%, selling 54,149 shares and retaining 42,344 shares valued at approximately $615,000. Institutional investors collectively own 95.96% of the company.
• Columbus McKinnon reported quarterly EPS of $0.61, beating the $0.27 consensus estimate, while revenue rose 125.3% year over year to $531.46 million. The company also issued fiscal 2027 EPS guidance of $1.90–$2.10.
• The stock has a consensus “Hold” rating with an average analyst price target of $23.00; JPMorgan raised its target to $29, while other analysts maintained neutral or bearish views. The company declared a quarterly dividend of $0.07 per share, yielding 1.4% annually.

Arrowstreet Capital Limited Partnership lowered its position in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 56.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 42,344 shares of the industrial products company's stock after selling 54,149 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.15% of Columbus McKinnon worth $615,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of CMCO. Marshall Wace LLP boosted its stake in shares of Columbus McKinnon by 698.6% in the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company's stock worth $10,422,000 after acquiring an additional 635,770 shares during the period. AQR Capital Management LLC lifted its holdings in Columbus McKinnon by 76.8% in the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company's stock worth $19,121,000 after purchasing an additional 481,470 shares in the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in Columbus McKinnon by 100.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company's stock worth $11,900,000 after purchasing an additional 415,275 shares during the period. Millennium Management LLC boosted its stake in Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company's stock worth $12,203,000 after purchasing an additional 379,096 shares during the period. Finally, Hillsdale Investment Management Inc. purchased a new stake in Columbus McKinnon during the 4th quarter valued at approximately $6,395,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Down 2.6%

Shares of NASDAQ CMCO opened at $20.22 on Friday. The firm's 50-day moving average price is $15.16 and its 200-day moving average price is $16.41. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The stock has a market capitalization of $583.63 million, a price-to-earnings ratio of -2.71 and a beta of 1.37. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.27 by $0.34. The company had revenue of $531.46 million during the quarter, compared to analyst estimates of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The firm's revenue was up 125.3% on a year-over-year basis. During the same quarter last year, the business posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, equities research analysts anticipate that Columbus McKinnon Corporation will post 2.05 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Investors of record on Friday, August 7th will be issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 7th. Columbus McKinnon's dividend payout ratio is presently -3.75%.

Insider Transactions at Columbus McKinnon

In related news, EVP John R. Linker purchased 7,500 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president directly owned 7,500 shares in the company, valued at $147,525. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.09% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CMCO shares. Zacks Research downgraded shares of Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. raised 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 report on Saturday, June 13th. Weiss Ratings cut shares of Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research note on Friday, July 31st. Finally, DA Davidson dropped 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. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $23.00.

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.

Want to see what other hedge funds are holding CMCO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source