Columbus McKinnon Corporation $CMCO Shares Acquired by Invesco Ltd.

Key Points

• Invesco Ltd. increased its stake in Columbus McKinnon Corporation by 177.5%, acquiring an additional 808,110 shares, bringing its total holdings to 1,263,320 shares valued at $21.4 million.
• The company reported $0.50 earnings per share for the last quarter, surpassing analysts' expectations of $0.47, with revenue also exceeding predictions at $235.92 million.
• Columbus McKinnon announced a quarterly dividend of $0.07 per share, paid to shareholders on August 18th, representing an annualized yield of 2.0%.

Invesco Ltd. boosted its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 177.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,263,320 shares of the industrial products company's stock after acquiring an additional 808,110 shares during the period. Invesco Ltd. owned 4.42% of Columbus McKinnon worth $21,388,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in Columbus McKinnon by 9.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 449,938 shares of the industrial products company's stock valued at $7,617,000 after acquiring an additional 37,363 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Columbus McKinnon in the first quarter valued at $833,000. Heartland Advisors Inc. raised its holdings in Columbus McKinnon by 477.4% in the first quarter. Heartland Advisors Inc. now owns 577,375 shares of the industrial products company's stock valued at $9,775,000 after acquiring an additional 477,375 shares in the last quarter. Legato Capital Management LLC raised its holdings in Columbus McKinnon by 38.7% in the first quarter. Legato Capital Management LLC now owns 75,322 shares of the industrial products company's stock valued at $1,275,000 after acquiring an additional 21,028 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Columbus McKinnon in the first quarter valued at $813,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Trading Down 3.5%

CMCO opened at $14.14 on Thursday. The stock has a market capitalization of $406.24 million, a PE ratio of -26.19 and a beta of 1.29. The firm's fifty day moving average price is $15.16 and its 200 day moving average price is $16.79. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01. Columbus McKinnon Corporation has a 12-month low of $11.78 and a 12-month high of $41.05.

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

Columbus McKinnon Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 18th. Shareholders of record on Friday, August 8th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, August 8th. This represents a $0.28 annualized dividend and a yield of 2.0%. Columbus McKinnon's payout ratio is presently -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.

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