Entropy Technologies LP Takes $654,000 Position in Columbus McKinnon Corporation (NASDAQ:CMCO)

Key Points

• Entropy Technologies LP acquired a new stake in Columbus McKinnon Corporation (NASDAQ:CMCO), purchasing 38,646 shares valued at approximately $654,000.
• Several institutional investors, including Barrow Hanley Mewhinney & Strauss and Invesco Ltd., significantly increased their stakes in Columbus McKinnon, highlighting growing institutional interest in the company.
• Columbus McKinnon announced a quarterly dividend of $0.07 per share, reflecting a yield of 1.9%, despite having a negative dividend payout ratio of -51.85%.

Entropy Technologies LP purchased a new stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 38,646 shares of the industrial products company's stock, valued at approximately $654,000. Entropy Technologies LP owned approximately 0.14% of Columbus McKinnon at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sterling Capital Management LLC raised its holdings in shares of Columbus McKinnon by 810.0% during the 4th 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. Signaturefd LLC raised its holdings in shares of Columbus McKinnon by 743.4% during the 1st 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. Versant Capital Management Inc raised its holdings in shares of Columbus McKinnon by 3,784.1% during the 1st 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. Parallel Advisors LLC bought a new position in shares of Columbus McKinnon during the 1st quarter valued at $47,000. Finally, High Note Wealth LLC bought a new position in shares of Columbus McKinnon during the 1st quarter valued at $48,000. Institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Down 2.6%

Shares of Columbus McKinnon stock traded down $0.38 during midday trading on Friday, reaching $14.30. 228,550 shares of the company's stock traded hands, compared to its average volume of 418,581. The company has a market cap of $410.84 million, a price-to-earnings ratio of -26.48 and a beta of 1.29. The company's 50 day simple moving average is $15.27 and its 200 day simple moving average is $17.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.01 and a current ratio of 1.85. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $41.05.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. Columbus McKinnon had a negative net margin of 1.63% and a positive return on equity of 7.62%. The business had revenue of $235.92 million for the quarter, compared to analyst estimates of $230.88 million. Equities analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Friday, August 8th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 8th. Columbus McKinnon's dividend payout ratio (DPR) 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.