Front Street Capital Management Inc. Has $3.24 Million Position in Columbus McKinnon Corporation $CMCO

Key Points

• Front Street Capital Management Inc. increased its stake in Columbus McKinnon Corporation by 249.3%, now holding 191,361 shares valued at approximately $3.24 million.
• The company reported $0.50 EPS for the last quarter, exceeding analysts' expectations of $0.47 and generating $235.92 million in revenue.
• Columbus McKinnon declared a quarterly dividend of $0.07 per share, with an annualized yield of 1.9%.

Front Street Capital Management Inc. boosted its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 249.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 191,361 shares of the industrial products company's stock after purchasing an additional 136,573 shares during the quarter. Front Street Capital Management Inc. owned about 0.67% of Columbus McKinnon worth $3,240,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CMCO. Versant Capital Management Inc boosted its position 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 acquiring an additional 2,384 shares during the period. Signaturefd LLC boosted its position 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 acquiring an additional 2,141 shares during the period. Parallel Advisors LLC bought a new stake in shares of Columbus McKinnon in the first quarter valued at approximately $47,000. High Note Wealth LLC bought a new stake in shares of Columbus McKinnon in the first quarter valued at approximately $48,000. Finally, CWM LLC boosted its position in shares of Columbus McKinnon by 79.2% in the first quarter. CWM LLC now owns 3,422 shares of the industrial products company's stock valued at $58,000 after acquiring an additional 1,512 shares during the period. Institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Performance

Shares of CMCO traded down $0.45 during mid-day trading on Friday, hitting $14.44. The company's stock had a trading volume of 78,168 shares, compared to its average volume of 486,136. Columbus McKinnon Corporation has a one year low of $11.78 and a one year high of $41.05. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.01 and a current ratio of 1.85. The firm has a market capitalization of $414.79 million, a PE ratio of -26.74 and a beta of 1.28. The stock's 50-day moving average is $15.06 and its two-hundred day moving average is $15.60.

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

Columbus McKinnon Dividend Announcement

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