200,000 Shares in Columbus McKinnon Corporation $CMCO Purchased by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management LLC acquired a new position in Columbus McKinnon Corporation, purchasing 200,000 shares valued at approximately $3.39 million during the 1st quarter.
• Columbus McKinnon reported earnings of $0.50 per share for the last quarter, exceeding expectations and generating a revenue of $235.92 million.
• The company declared a quarterly dividend of $0.07 per share with a yield of 1.9%, despite having a negative dividend payout ratio of -51.85%.

Nantahala Capital Management LLC purchased 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 institutional investor purchased 200,000 shares of the industrial products company's stock, valued at approximately $3,386,000. Nantahala Capital Management LLC owned 0.70% of Columbus McKinnon at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Barrow Hanley Mewhinney & Strauss LLC boosted its position in Columbus McKinnon by 13.5% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company's stock worth $57,646,000 after purchasing an additional 184,615 shares during the period. Invesco Ltd. lifted its holdings in Columbus McKinnon by 177.5% in the 1st quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock worth $21,388,000 after buying an additional 808,110 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Columbus McKinnon by 37.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock worth $16,513,000 after buying an additional 266,020 shares in the last quarter. Systematic Financial Management LP lifted its holdings in Columbus McKinnon by 6.0% in the 4th quarter. Systematic Financial Management LP now owns 829,080 shares of the industrial products company's stock worth $30,875,000 after buying an additional 46,806 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its holdings in Columbus McKinnon by 7.7% in the 1st quarter. Segall Bryant & Hamill LLC now owns 786,153 shares of the industrial products company's stock worth $13,310,000 after buying an additional 56,028 shares in the last quarter. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Performance

CMCO stock remained flat at $14.89 during trading on Friday. 602,255 shares of the company's stock were exchanged, compared to its average volume of 297,827. Columbus McKinnon Corporation has a 52-week low of $11.78 and a 52-week high of $41.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.85 and a quick ratio of 1.01. The firm has a market capitalization of $427.72 million, a P/E ratio of -27.57 and a beta of 1.28. The company has a fifty day moving average of $15.16 and a two-hundred day moving average of $15.73.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The business had revenue of $235.92 million for the quarter, compared to analyst estimates of $230.88 million. Columbus McKinnon had a negative net margin of 1.63% and a positive return on equity of 7.62%. Sell-side analysts predict that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

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

About Columbus McKinnon

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.