Columbus McKinnon Corporation $CMCO Stake Lifted by Bernzott Capital Advisors

Key Points

• Bernzott Capital Advisors raised its stake in Columbus McKinnon by 83% in Q4 to 540,807 shares (about 1.88% of the company, ~$9.33M), making CMCO its second-largest holding.
• Columbus McKinnon beat quarterly estimates with EPS of $0.62 (vs. $0.61) and revenue of $258.66M (+10.5% YoY); the stock trades near $15.80 with a market cap of ~$454M and a P/E around 75.
• The company declared a quarterly dividend of $0.07 (annualized $0.28, ~1.8% yield), but the dividend payout ratio is high at 133.3%, which may raise sustainability concerns.

Bernzott Capital Advisors lifted its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 83.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 540,807 shares of the industrial products company's stock after acquiring an additional 245,222 shares during the period. Columbus McKinnon accounts for about 4.4% of Bernzott Capital Advisors' investment portfolio, making the stock its 2nd largest position. Bernzott Capital Advisors owned 1.88% of Columbus McKinnon worth $9,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of CMCO. SummerHaven Investment Management LLC purchased a new position in Columbus McKinnon in the third quarter valued at approximately $735,000. AlphaQuest LLC raised its holdings in Columbus McKinnon by 118.8% in the third quarter. AlphaQuest LLC now owns 68,122 shares of the industrial products company's stock valued at $977,000 after buying an additional 36,986 shares during the period. SG Americas Securities LLC raised its holdings in Columbus McKinnon by 282.1% in the third quarter. SG Americas Securities LLC now owns 34,531 shares of the industrial products company's stock valued at $495,000 after buying an additional 25,494 shares during the period. CM Management LLC purchased a new position in Columbus McKinnon in the fourth quarter valued at approximately $949,000. Finally, Wilmington Savings Fund Society FSB raised its holdings in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company's stock valued at $36,000 after buying an additional 1,000 shares during the period. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Columbus McKinnon

In other news, insider Jon Adams sold 5,185 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $23.28, for a total transaction of $120,706.80. Following the completion of the sale, the insider owned 9,366 shares of the company's stock, valued at approximately $218,040.48. This trade represents a 35.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.26% of the company's stock.

Columbus McKinnon Stock Down 2.4%

CMCO stock opened at $15.80 on Friday. Columbus McKinnon Corporation has a twelve month low of $13.31 and a twelve month high of $24.40. The company has a current ratio of 1.83, a quick ratio of 0.99 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $454.08 million, a P/E ratio of 75.24 and a beta of 1.39. The firm has a 50 day simple moving average of $15.69 and a 200-day simple moving average of $17.21.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last released its quarterly earnings results on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The business had revenue of $258.66 million during the quarter, compared to the consensus estimate of $241.60 million. During the same quarter last year, the company earned $0.56 earnings per share. The business's quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities research analysts predict that Columbus McKinnon Corporation will post 1.89 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 11th. Stockholders of record on Friday, May 1st will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, May 1st. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.8%. Columbus McKinnon's dividend payout ratio (DPR) is presently 133.33%.

Analyst Upgrades and Downgrades

CMCO has been the topic of several research reports. JPMorgan Chase & Co. cut their price target on shares of Columbus McKinnon from $29.00 to $27.00 and set an "overweight" rating on the stock in a report on Wednesday, February 18th. Weiss Ratings restated a "sell (d+)" rating on shares of Columbus McKinnon in a report on Tuesday, April 14th. DA Davidson set a $20.00 price target on shares of Columbus McKinnon in a report on Thursday, February 12th. Zacks Research upgraded shares of Columbus McKinnon from a "strong sell" rating to a "strong-buy" rating in a report on Monday, April 13th. Finally, Wall Street Zen lowered shares of Columbus McKinnon from a "strong-buy" rating to a "buy" rating in a research note on Sunday, March 22nd. Two research analysts have rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $23.50.

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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