First Eagle Investment Management LLC Purchases Shares of 142,918 Columbus McKinnon Corporation $CMCO

Key Points

• First Eagle Investment Management disclosed a new stake in Columbus McKinnon, buying 142,918 shares valued at about $2.47 million in the fourth quarter. The position represented roughly 0.50% of the company.
• Columbus McKinnon shares were down 2.9% and recently traded around $15.02, well below the stock’s 52-week high of $24.40. The company has a market value of about $431.66 million.
• The company recently beat earnings expectations, reporting $0.62 EPS on revenue of $258.66 million, while analysts currently have a Moderate Buy consensus with a target price of $23.50.

First Eagle Investment Management LLC purchased a new stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 142,918 shares of the industrial products company's stock, valued at approximately $2,465,000. First Eagle Investment Management LLC owned approximately 0.50% of Columbus McKinnon at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Signaturefd LLC boosted its stake in Columbus McKinnon by 18.1% during the fourth quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company's stock valued at $61,000 after buying an additional 545 shares during the period. Access Investment Management LLC increased its stake in Columbus McKinnon by 0.9% in the 3rd quarter. Access Investment Management LLC now owns 82,950 shares of the industrial products company's stock worth $1,190,000 after acquiring an additional 735 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Columbus McKinnon by 8.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company's stock worth $166,000 after acquiring an additional 852 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in shares of Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company's stock valued at $36,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in shares of Columbus McKinnon by 34.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 4,610 shares of the industrial products company's stock valued at $80,000 after acquiring an additional 1,181 shares during the last quarter. Institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Down 2.9%

Shares of NASDAQ CMCO opened at $15.02 on Thursday. The stock has a market capitalization of $431.66 million, a P/E ratio of 71.52 and a beta of 1.39. Columbus McKinnon Corporation has a one year low of $13.31 and a one year high of $24.40. The firm's 50 day simple moving average is $15.40 and its two-hundred day simple moving average is $17.22. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.83 and a quick ratio of 0.99.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings data on Monday, February 9th. The industrial products company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.01. Columbus McKinnon had a net margin of 0.60% and a return on equity of 7.41%. The firm had revenue of $258.66 million during the quarter, compared to analyst estimates of $241.60 million. During the same period in the previous year, the business posted $0.56 EPS. The business's quarterly revenue was up 10.5% on a year-over-year basis. As a group, analysts expect that Columbus McKinnon Corporation will post 1.89 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, May 1st. Columbus McKinnon's dividend payout ratio is presently 133.33%.

Analyst Upgrades and Downgrades

CMCO has been the topic of several research analyst reports. Zacks Research upgraded shares of Columbus McKinnon from a "strong sell" rating to a "strong-buy" rating in a research report on Monday, April 13th. Wall Street Zen lowered shares of Columbus McKinnon from a "strong-buy" rating to a "buy" rating in a report on Sunday, March 22nd. Weiss Ratings restated a "sell (d+)" rating on shares of Columbus McKinnon in a research report on Tuesday, April 14th. JPMorgan Chase & Co. cut their target price on shares of Columbus McKinnon from $29.00 to $27.00 and set an "overweight" rating for the company in a research report on Wednesday, February 18th. Finally, DA Davidson set a $20.00 target price on Columbus McKinnon in a research note on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Columbus McKinnon presently has a consensus rating of "Moderate Buy" and a consensus target price of $23.50.

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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