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

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sterling Capital Management LLC grew its holdings in shares of Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 810 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Columbus McKinnon by 3,784.1% in the first quarter. Versant Capital Management Inc now owns 2,447 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 2,384 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Columbus McKinnon by 743.4% in the first quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 2,141 shares in the last quarter. Parallel Advisors LLC purchased a new position in shares of Columbus McKinnon in the first quarter valued at $47,000. Finally, High Note Wealth LLC purchased a new position in shares of Columbus McKinnon in the first quarter valued at $48,000. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Price Performance

Shares of CMCO stock traded down $0.1850 on Thursday, reaching $13.9550. The company's stock had a trading volume of 154,648 shares, compared to its average volume of 501,086. 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 stock's fifty day simple moving average is $15.16 and its 200-day simple moving average is $16.79. The company has a market capitalization of $400.93 million, a price-to-earnings ratio of -25.80 and a beta of 1.29. Columbus McKinnon Corporation has a 1 year low of $11.78 and a 1 year high of $41.05.

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

Columbus McKinnon Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Friday, August 8th were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 8th. Columbus McKinnon's payout ratio is presently -51.85%.

About Columbus McKinnon

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.