Ieq Capital LLC Makes New Investment in Columbus McKinnon Corporation $CMCO

Key Points

• Ieq Capital acquired 59,126 shares of Columbus McKinnon worth approximately $895,000, while institutional investors collectively own 95.96% of the company.
• Analyst sentiment is mixed but leans positive: Columbus McKinnon has an average “Moderate Buy” rating and a consensus price target of $23, compared with shares opening at $18.39.
• The company exceeded quarterly earnings and revenue expectations, reporting $0.61 EPS and $531.46 million in revenue, while also maintaining a $0.07 quarterly dividend.

Ieq Capital LLC acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 59,126 shares of the industrial products company's stock, valued at approximately $895,000. Ieq Capital LLC owned approximately 0.20% of Columbus McKinnon as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in CMCO. BlackRock Inc. acquired a new position in Columbus McKinnon during the second quarter worth $37,183,000. Vanguard Group Inc. grew its position in shares of Columbus McKinnon by 3.4% in the 3rd quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company's stock valued at $26,873,000 after acquiring an additional 62,267 shares during the period. Invesco Ltd. grew its position in shares of Columbus McKinnon by 0.4% in the 4th quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company's stock valued at $25,135,000 after acquiring an additional 5,210 shares during the period. AQR Capital Management LLC increased its stake in shares of Columbus McKinnon by 76.8% during the 4th quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company's stock worth $19,121,000 after purchasing an additional 481,470 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in shares of Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company's stock valued at $12,203,000 after purchasing an additional 379,096 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on CMCO shares. JPMorgan Chase & Co. lifted their price target on Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. DA Davidson dropped their price objective on Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating on the stock in a research note on Monday, June 15th. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Weiss Ratings lowered Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Finally, Zacks Research upgraded Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Columbus McKinnon presently has an average rating of "Moderate Buy" and an average target price of $23.00.

Columbus McKinnon Stock Up 2.3%

Shares of NASDAQ CMCO opened at $18.39 on Friday. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. Columbus McKinnon Corporation has a 52 week low of $11.99 and a 52 week high of $24.40. The stock has a market capitalization of $530.74 million, a P/E ratio of -2.47 and a beta of 1.37. The stock's fifty day moving average is $16.40 and its 200 day moving average is $16.12.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The business had revenue of $531.46 million during the quarter, compared to analysts' expectations of $501.27 million. During the same quarter in the prior year, the business posted $0.50 earnings per share. Columbus McKinnon's revenue was up 125.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Sell-side analysts forecast that Columbus McKinnon Corporation will post 2.05 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 17th. Investors of record on Friday, August 7th were given a dividend of $0.07 per share. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.5%. Columbus McKinnon's dividend payout ratio (DPR) is currently -3.75%.

Insider Buying and Selling

In other Columbus McKinnon news, EVP John R. Linker bought 7,500 shares of the business's stock in a transaction on Friday, July 31st. The stock was purchased at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the purchase, the executive vice president directly owned 7,500 shares of the company's stock, valued at approximately $147,525. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher J. Stephens bought 2,750 shares of Columbus McKinnon stock in a transaction on Thursday, August 20th. The stock was acquired at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the acquisition, the director owned 22,317 shares in the company, valued at approximately $382,513.38. This represents a 14.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.09% of the company's stock.

Columbus McKinnon Company Profile

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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