Empowered Funds LLC Raises Stake in Columbus McKinnon Corporation $CMCO

Key Points

• Empowered Funds LLC more than doubled its Columbus McKinnon stake by purchasing 144,351 additional shares, bringing its holdings to 262,129 shares valued at approximately $3.8 million. Institutional investors collectively own 95.96% of the company.
• Columbus McKinnon reported quarterly EPS of $0.61, significantly above the $0.27 analyst consensus, while revenue rose 125.3% year over year to $531.46 million. The stock opened at $20.12, up 5.0%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and a $23.00 target price. The company also declared a quarterly dividend of $0.07 per share, representing a 1.4% annualized yield.

Empowered Funds LLC lifted its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 122.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 262,129 shares of the industrial products company's stock after purchasing an additional 144,351 shares during the period. Empowered Funds LLC owned about 0.91% of Columbus McKinnon worth $3,809,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its stake in Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company's stock worth $30,000 after acquiring an additional 565 shares in the last quarter. Group One Trading LLC boosted its holdings in shares of Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB grew its stake 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 worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Columbus McKinnon by 267.8% in the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company's stock worth $40,000 after purchasing an additional 1,893 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company's stock worth $54,000 after purchasing an additional 918 shares during the period. Institutional investors own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on CMCO shares. JPMorgan Chase & Co. upped their target price on Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday. Zacks Research lowered shares of Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Wall Street Zen cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. DA Davidson cut their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a research report on Monday, June 15th. Finally, Weiss Ratings lowered shares of Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $23.00.

Columbus McKinnon Trading Up 5.0%

NASDAQ CMCO opened at $20.12 on Tuesday. Columbus McKinnon Corporation has a 52 week low of $11.99 and a 52 week high of $24.40. The company has a 50 day moving average price of $14.76 and a 200 day moving average price of $16.37. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. The firm has a market cap of $580.06 million, a PE ratio of -2.70 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.34. The business had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The business's quarterly revenue was up 125.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, sell-side analysts forecast that Columbus McKinnon Corporation will post 2 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 17th. Shareholders of record on Friday, August 7th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 7th. Columbus McKinnon's dividend payout ratio (DPR) is currently -3.75%.

Columbus McKinnon Company 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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