Bernzott Capital Advisors Cuts Position in Columbus McKinnon Corporation $CMCO

Key Points

• Bernzott Capital Advisors reduced its Columbus McKinnon stake by 16.1% in the first quarter, selling 86,955 shares and ending with 453,852 shares valued at about $6.6 million.
• Columbus McKinnon reported mixed quarterly results: earnings of $0.24 per share missed estimates, but revenue of $437.83 million came in above expectations and rose 77.3% year over year.
• Analyst sentiment is mixed but constructive, with recent rating changes ranging from downgrades to upgrades; the stock currently carries a consensus Moderate Buy rating and a $22.00 average price target.

Bernzott Capital Advisors trimmed its position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 16.1% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 453,852 shares of the industrial products company's stock after selling 86,955 shares during the period. Columbus McKinnon makes up about 3.2% of Bernzott Capital Advisors' holdings, making the stock its 14th largest holding. Bernzott Capital Advisors owned about 1.58% of Columbus McKinnon worth $6,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. First Eagle Investment Management LLC acquired a new stake in shares of Columbus McKinnon during the fourth quarter worth about $2,465,000. Legato Capital Management LLC grew its holdings in shares of Columbus McKinnon by 214.8% in the fourth quarter. Legato Capital Management LLC now owns 67,336 shares of the industrial products company's stock valued at $1,162,000 after purchasing an additional 45,945 shares in the last quarter. LSV Asset Management increased its stake in Columbus McKinnon by 56.6% during the 4th quarter. LSV Asset Management now owns 107,746 shares of the industrial products company's stock worth $1,859,000 after buying an additional 38,946 shares during the period. K2 Principal Fund L.P. purchased a new stake in Columbus McKinnon during the 4th quarter worth approximately $694,000. Finally, Van Den Berg Management I Inc. lifted its holdings in Columbus McKinnon by 16.7% during the 4th quarter. Van Den Berg Management I Inc. now owns 379,019 shares of the industrial products company's stock worth $6,538,000 after buying an additional 54,216 shares in the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Up 1.9%

Shares of NASDAQ CMCO opened at $13.47 on Friday. Columbus McKinnon Corporation has a 1 year low of $11.99 and a 1 year high of $24.40. The company has a market capitalization of $388.34 million, a price-to-earnings ratio of -2.46 and a beta of 1.39. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.98. The business has a 50-day moving average of $14.54 and a two-hundred day moving average of $16.68.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). The business had revenue of $437.83 million for the quarter, compared to analyst estimates of $419.56 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.Columbus McKinnon's revenue was up 77.3% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, analysts forecast that Columbus McKinnon Corporation will post 1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

CMCO has been the subject of several research reports. Wall Street Zen downgraded shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Zacks Research upgraded Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 10th. Weiss Ratings lowered Columbus McKinnon from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 29th. Finally, DA Davidson cut their price target on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a report on Monday, June 15th. 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 given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

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.

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