Hsbc Holdings PLC Purchases 51,332 Shares of Columbus McKinnon Corporation $CMCO

Key Points

• Hsbc Holdings PLC significantly increased its stake in Columbus McKinnon Corporation by 946.0% during the first quarter, owning approximately 0.20% of the company after acquiring over 51,000 shares.
• Columbus McKinnon reported $0.50 earnings per share for the latest quarter, exceeding analysts' expectations, with revenue of $235.92 million.
• The company also announced a quarterly dividend of $0.07 per share, reflecting a 1.9% dividend yield with a negative payout ratio of -51.85%.

Hsbc Holdings PLC boosted its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 946.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,758 shares of the industrial products company's stock after purchasing an additional 51,332 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of Columbus McKinnon worth $942,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quantbot Technologies LP grew its position in Columbus McKinnon by 2,466.5% in the first quarter. Quantbot Technologies LP now owns 69,707 shares of the industrial products company's stock valued at $1,180,000 after acquiring an additional 66,991 shares during the last quarter. American Century Companies Inc. bought a new position in Columbus McKinnon in the first quarter valued at about $391,000. Nuveen LLC bought a new position in Columbus McKinnon in the first quarter valued at about $1,797,000. Aigen Investment Management LP bought a new position in Columbus McKinnon in the first quarter valued at about $188,000. Finally, Entropy Technologies LP bought a new position in Columbus McKinnon in the first quarter valued at about $654,000. Institutional investors and hedge funds own 95.96% of the company's stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock traded up $0.47 during midday trading on Thursday, reaching $14.80. The company's stock had a trading volume of 116,112 shares, compared to its average volume of 493,208. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $41.05. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. The business has a 50-day moving average price of $15.18 and a 200-day moving average price of $15.81. The stock has a market cap of $425.20 million, a PE ratio of -27.42 and a beta of 1.28.

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

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 8th. Columbus McKinnon's payout ratio is -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.