Columbus McKinnon Corporation $CMCO Holdings Raised by Front Street Capital Management Inc.

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. lifted its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 249.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 191,361 shares of the industrial products company's stock after acquiring an additional 136,573 shares during the period. Front Street Capital Management Inc. owned 0.67% of Columbus McKinnon worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Versant Capital Management Inc lifted its position in 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 worth $41,000 after purchasing an additional 2,384 shares during the period. Signaturefd LLC increased its position 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 during the period. Parallel Advisors LLC bought a new stake in shares of Columbus McKinnon in the 1st quarter worth $47,000. High Note Wealth LLC acquired a new stake in shares of Columbus McKinnon in the first quarter valued at $48,000. Finally, CWM LLC boosted its stake in Columbus McKinnon by 79.2% during the first quarter. CWM LLC now owns 3,422 shares of the industrial products company's stock valued at $58,000 after buying an additional 1,512 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company's stock.

Columbus McKinnon Price Performance

NASDAQ:CMCO traded up $0.38 during mid-day trading on Thursday, reaching $14.89. 213,192 shares of the stock were exchanged, compared to its average volume of 488,506. 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 business has a fifty day moving average price of $15.09 and a 200 day moving average price of $15.63. Columbus McKinnon Corporation has a 1-year low of $11.78 and a 1-year high of $41.05. The firm has a market capitalization of $427.79 million, a PE ratio of -27.57 and a beta of 1.28.

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 negative net margin of 1.63% and a positive return on equity of 7.62%. The company had revenue of $235.92 million during the quarter, compared to analyst estimates of $230.88 million. Research analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 18th. Stockholders of record on Friday, August 8th were given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 8th. Columbus McKinnon's dividend payout ratio (DPR) is -51.85%.

Columbus McKinnon 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.