Graham Capital Management L.P. Purchases 34,206 Shares of Columbus McKinnon Corporation $CMCO

Key Points

• Graham Capital Management L.P. significantly increased its stake in Columbus McKinnon Corporation by 309.6% during the first quarter, holding 45,254 shares valued at approximately $766,000.
• Columbus McKinnon reported earnings of $0.50 per share for the last quarter, exceeding analyst estimates of $0.47, with revenues reaching $235.92 million.
• The company announced a quarterly dividend of $0.07 per share, translating to an annual yield of 1.9%, which reflects a negative dividend payout ratio of -51.85%.

Graham Capital Management L.P. boosted its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 309.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 45,254 shares of the industrial products company's stock after acquiring an additional 34,206 shares during the period. Graham Capital Management L.P. owned 0.16% of Columbus McKinnon worth $766,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Palogic Value Management L.P. raised its holdings in shares of Columbus McKinnon by 514.8% in the 1st quarter. Palogic Value Management L.P. now owns 501,585 shares of the industrial products company's stock worth $8,492,000 after purchasing an additional 420,000 shares during the period. State of Wyoming lifted its position in shares of Columbus McKinnon by 131.7% during the 1st quarter. State of Wyoming now owns 7,874 shares of the industrial products company's stock valued at $133,000 after buying an additional 4,476 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Columbus McKinnon during the 1st quarter worth $1,457,000. Synovus Financial Corp grew its stake in shares of Columbus McKinnon by 104.8% during the 1st quarter. Synovus Financial Corp now owns 44,979 shares of the industrial products company's stock worth $761,000 after acquiring an additional 23,020 shares during the period. Finally, Walleye Capital LLC purchased a new stake in Columbus McKinnon in the 1st quarter worth about $3,167,000. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Stock Performance

NASDAQ CMCO remained flat at $14.89 during trading on Friday. 602,255 shares of the company's stock traded hands, compared to its average volume of 297,827. The company has a quick ratio of 1.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $427.79 million, a PE ratio of -27.57 and a beta of 1.28. Columbus McKinnon Corporation has a 1-year low of $11.78 and a 1-year high of $41.05. The business's 50-day simple moving average is $15.16 and its 200 day simple moving average is $15.70.

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

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 8th. Columbus McKinnon's dividend payout ratio (DPR) is presently -51.85%.

Columbus McKinnon Company 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.