GSA Capital Partners LLP Takes $833,000 Position in Columbus McKinnon Corporation (NASDAQ:CMCO)

Key Points

• GSA Capital Partners LLP made a new investment of $833,000 in Columbus McKinnon Corporation, acquiring 49,188 shares during the first quarter.
• Other institutional investors also increased their stakes, with Heartland Advisors Inc. growing its position by 477.4%, now holding shares worth $9.77 million.
• Columbus McKinnon Corporation recently announced a quarterly dividend of $0.07 per share, resulting in an annualized yield of 2.0%.

GSA Capital Partners LLP acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 49,188 shares of the industrial products company's stock, valued at approximately $833,000. GSA Capital Partners LLP owned about 0.17% of Columbus McKinnon as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. Sterling Capital Management LLC lifted its stake in Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock worth $34,000 after purchasing an additional 810 shares during the last quarter. Versant Capital Management Inc lifted its stake 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 last quarter. Signaturefd LLC lifted its stake in Columbus McKinnon by 743.4% in the first quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company's stock worth $41,000 after purchasing an additional 2,141 shares during the last quarter. Parallel Advisors LLC bought a new stake in Columbus McKinnon in the first quarter worth $47,000. Finally, High Note Wealth LLC bought a new stake in Columbus McKinnon in the first quarter worth $48,000. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Trading Up 3.1%

Shares of CMCO stock traded up $0.42 during mid-day trading on Tuesday, reaching $14.17. The stock had a trading volume of 121,389 shares, compared to its average volume of 519,588. The stock's 50-day moving average price is $15.44 and its two-hundred day moving average price is $18.40. Columbus McKinnon Corporation has a 52-week low of $11.78 and a 52-week high of $41.05. The firm has a market capitalization of $407.10 million, a PE ratio of -26.25 and a beta of 1.29. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations 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 firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 18th. Investors of record on Friday, August 8th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.28 annualized dividend and a yield of 2.0%. Columbus McKinnon's payout ratio is presently -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.