Meros Investment Management LP Trims Stock Holdings in Columbus McKinnon Corporation $CMCO

Key Points

• Meros Investment Management LP reduced its stake in Columbus McKinnon Corporation by 55.5% in the first quarter, owning 123,373 shares after selling 154,095 shares.
• Columbus McKinnon reported a quarterly EPS of $0.50, exceeding analyst estimates of $0.47, with revenue of $235.92 million for the same period.
• The company announced a $0.07 quarterly dividend, representing an annualized yield of 2.0%, to be paid to shareholders on August 18th.

Meros Investment Management LP lowered its position in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 55.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 123,373 shares of the industrial products company's stock after selling 154,095 shares during the period. Meros Investment Management LP owned 0.43% of Columbus McKinnon worth $2,089,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Columbus McKinnon by 13.5% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company's stock valued at $57,646,000 after buying an additional 184,615 shares during the period. Invesco Ltd. grew its position in Columbus McKinnon by 177.5% in the 1st quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock valued at $21,388,000 after acquiring an additional 808,110 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its position in Columbus McKinnon by 37.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock valued at $16,513,000 after acquiring an additional 266,020 shares in the last quarter. Systematic Financial Management LP grew its position in Columbus McKinnon by 6.0% in the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company's stock valued at $30,875,000 after acquiring an additional 46,806 shares in the last quarter. Finally, Segall Bryant & Hamill LLC grew its position in Columbus McKinnon by 7.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 786,153 shares of the industrial products company's stock valued at $13,310,000 after acquiring an additional 56,028 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company's stock.

Columbus McKinnon Trading Up 0.7%

NASDAQ CMCO traded up $0.10 during trading on Tuesday, hitting $14.65. The stock had a trading volume of 239,215 shares, compared to its average volume of 416,330. The company has a market capitalization of $420.89 million, a PE ratio of -27.13 and a beta of 1.29. 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 firm has a 50 day moving average price of $15.20 and a 200 day moving average price of $16.81. Columbus McKinnon Corporation has a twelve month low of $11.78 and a twelve month 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 (EPS) 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 analysts' expectations of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. As a group, equities research analysts forecast that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Announces Dividend

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