Hotchkis & Wiley Capital Management LLC Makes New $4.88 Million Investment in Columbus McKinnon Corporation $CMCO

Key Points

• Hotchkis & Wiley Capital Management LLC has acquired a new stake in Columbus McKinnon Corporation, purchasing 288,070 shares valued at approximately $4.88 million, which now represents 1.01% ownership of the company.
• Columbus McKinnon recently announced a quarterly dividend of $0.07, equivalent to an annualized amount of $0.28 and a dividend yield of 1.8%, despite a negative dividend payout ratio of -51.85%.
• The company's stock opened at $15.35 with a market capitalization of $441.01 million, showing a 52-week range between $11.78 and $41.05, alongside a recent earnings report that exceeded analysts' estimates.

Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 288,070 shares of the industrial products company's stock, valued at approximately $4,877,000. Hotchkis & Wiley Capital Management LLC owned 1.01% of Columbus McKinnon at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vaughan Nelson Investment Management L.P. raised its position in Columbus McKinnon by 37.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock valued at $16,513,000 after acquiring an additional 266,020 shares in the last quarter. Entropy Technologies LP purchased a new position in Columbus McKinnon during the first quarter valued at approximately $654,000. GAMMA Investing LLC raised its position in Columbus McKinnon by 3,033.1% during the first quarter. GAMMA Investing LLC now owns 3,979 shares of the industrial products company's stock valued at $67,000 after acquiring an additional 3,852 shares in the last quarter. Legato Capital Management LLC raised its position in Columbus McKinnon by 38.7% during the first quarter. Legato Capital Management LLC now owns 75,322 shares of the industrial products company's stock valued at $1,275,000 after acquiring an additional 21,028 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in Columbus McKinnon during the first quarter valued at approximately $833,000. Hedge funds and other institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Performance

CMCO stock traded down $0.24 during trading on Friday, hitting $14.98. 809,817 shares of the company traded hands, compared to its average volume of 495,865. The company has a market cap of $430.38 million, a PE ratio of -27.74 and a beta of 1.29. Columbus McKinnon Corporation has a 1 year low of $11.78 and a 1 year high of $41.05. The stock's 50-day simple moving average is $15.16 and its 200 day simple moving average is $15.97. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $235.92 million during the quarter, compared to analysts' expectations of $230.88 million. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%. On average, equities 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 declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Friday, August 8th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 8th. Columbus McKinnon's payout ratio is presently -51.85%.

Columbus McKinnon Company 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.