Columbus McKinnon Corporation $CMCO Position Increased by Synovus Financial Corp

Key Points

• Synovus Financial Corp increased its holdings in Columbus McKinnon Corporation by 104.8% in the first quarter, acquiring a total of 44,979 shares worth approximately $761,000.
• Columbus McKinnon recently reported quarterly earnings of $0.50 per share, surpassing analysts' expectations, with revenue reaching $235.92 million compared to expectations of $230.88 million.
• The company declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend of $0.28 and a yield of 1.8%.

Synovus Financial Corp lifted its holdings in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 104.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,979 shares of the industrial products company's stock after purchasing an additional 23,020 shares during the quarter. Synovus Financial Corp owned 0.16% of Columbus McKinnon worth $761,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wells Fargo & Company MN lifted its holdings in shares of Columbus McKinnon by 22.2% in the fourth quarter. Wells Fargo & Company MN now owns 25,467 shares of the industrial products company's stock valued at $948,000 after buying an additional 4,634 shares during the period. Mariner LLC lifted its holdings in shares of Columbus McKinnon by 17.6% in the fourth quarter. Mariner LLC now owns 13,806 shares of the industrial products company's stock valued at $514,000 after buying an additional 2,066 shares during the period. First Trust Advisors LP lifted its holdings in shares of Columbus McKinnon by 11.1% in the fourth quarter. First Trust Advisors LP now owns 93,106 shares of the industrial products company's stock valued at $3,467,000 after buying an additional 9,316 shares during the period. MetLife Investment Management LLC lifted its holdings in shares of Columbus McKinnon by 7.0% in the fourth quarter. MetLife Investment Management LLC now owns 17,247 shares of the industrial products company's stock valued at $642,000 after buying an additional 1,127 shares during the period. Finally, MGO One Seven LLC acquired a new stake in shares of Columbus McKinnon in the fourth quarter valued at $256,000. Institutional investors own 95.96% of the company's stock.

Columbus McKinnon Price Performance

Shares of Columbus McKinnon stock traded down $0.24 during trading on Friday, hitting $14.98. The stock had a trading volume of 809,817 shares, compared to its average volume of 290,478. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01. The firm has a market cap of $430.38 million, a P/E ratio of -27.74 and a beta of 1.29. The business has a fifty day moving average of $15.17 and a two-hundred day moving average of $15.93. Columbus McKinnon Corporation has a fifty-two week low of $11.78 and a fifty-two week high of $41.05.

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

Columbus McKinnon Dividend Announcement

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