Palogic Value Management L.P. Has $2.06 Million Position in Columbus McKinnon Corporation $CMCO

Key Points

• Palogic Value Management L.P. has increased its stake in Columbus McKinnon Corporation by 49%, holding approximately 121,585 shares valued at over $2 million.
• Columbus McKinnon reported Q2 earnings of $0.50 EPS, surpassing estimates of $0.47, with revenue reaching $235.92 million compared to expectations of $230.88 million.
• The company's recent quarterly dividend was $0.07 per share, with an annualized dividend yield of 1.9%, and a current payout ratio of -51.85%.

Palogic Value Management L.P. increased its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 49.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 121,585 shares of the industrial products company's stock after purchasing an additional 40,000 shares during the quarter. Palogic Value Management L.P. owned approximately 0.42% of Columbus McKinnon worth $2,058,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its holdings in shares of Columbus McKinnon by 3,784.1% during the first quarter. Versant Capital Management Inc now owns 2,447 shares of the industrial products company's stock worth $41,000 after buying an additional 2,384 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Columbus McKinnon by 743.4% during the first quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company's stock worth $41,000 after buying an additional 2,141 shares during the last quarter. Parallel Advisors LLC acquired a new position in shares of Columbus McKinnon during the first quarter worth approximately $47,000. High Note Wealth LLC acquired a new position in shares of Columbus McKinnon during the first quarter worth approximately $48,000. Finally, CWM LLC lifted its holdings in shares of Columbus McKinnon by 79.2% during the first quarter. CWM LLC now owns 3,422 shares of the industrial products company's stock worth $58,000 after buying an additional 1,512 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Up 0.1%

Shares of CMCO stock opened at $14.91 on Tuesday. Columbus McKinnon Corporation has a 12 month low of $11.78 and a 12 month high of $41.05. The firm has a market cap of $428.36 million, a PE ratio of -27.61 and a beta of 1.28. The stock has a 50 day moving average of $15.15 and a 200-day moving average of $15.64. The company has a quick ratio of 1.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.46.

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

Columbus McKinnon Dividend Announcement

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

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