Heartland Advisors Inc. Boosts Stake in Columbus McKinnon Corporation $CMCO

Key Points

• Heartland Advisors increased its Columbus McKinnon stake by 16.6% in Q1, buying nearly 99,000 additional shares and bringing its holding to 694,050 shares worth about $10.1 million.
• Columbus McKinnon’s latest quarterly results were mixed: revenue beat expectations at $437.8 million, but earnings per share missed estimates at $0.24 versus $0.36 expected.
• Analyst sentiment has softened, with several firms cutting ratings or price targets; the stock now carries a consensus Hold rating and an average target price of $22.00.

Heartland Advisors Inc. increased its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 16.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 694,050 shares of the industrial products company's stock after buying an additional 98,950 shares during the period. Heartland Advisors Inc. owned about 2.41% of Columbus McKinnon worth $10,085,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in CMCO. EverSource Wealth Advisors LLC grew its position in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company's stock worth $30,000 after acquiring an additional 565 shares in the last quarter. Group One Trading LLC grew its position in shares of Columbus McKinnon by 266.7% during the 3rd quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company's stock valued at $32,000 after buying an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB raised its stake in Columbus McKinnon by 66.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company's stock worth $36,000 after acquiring an additional 1,000 shares during the period. Tower Research Capital LLC TRC raised its stake in Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company's stock worth $40,000 after acquiring an additional 1,893 shares during the period. Finally, Royal Bank of Canada lifted its holdings in Columbus McKinnon by 41.4% in the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company's stock worth $54,000 after acquiring an additional 918 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of NASDAQ CMCO opened at $14.36 on Friday. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.98. Columbus McKinnon Corporation has a one year low of $11.99 and a one year high of $24.40. The business's 50-day moving average price is $14.33 and its two-hundred day moving average price is $16.53. The company has a market capitalization of $414.00 million, a P/E ratio of -2.62 and a beta of 1.39.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.12). The firm had revenue of $437.83 million for the quarter, compared to analysts' expectations of $419.56 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The firm's revenue for the quarter was up 77.3% on a year-over-year basis. During the same period last year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Analysts anticipate that Columbus McKinnon Corporation will post 1.73 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CMCO has been the topic of several analyst reports. Wall Street Zen lowered Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. DA Davidson decreased their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a report on Monday, June 15th. Zacks Research cut Columbus McKinnon from a "strong-buy" rating to a "hold" rating in a research note on Thursday, July 9th. Finally, Weiss Ratings cut shares of Columbus McKinnon from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, May 29th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $22.00.

About Columbus McKinnon

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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