Palogic Value Management L.P. Grows Stock Holdings 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 holdings in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 49.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,585 shares of the industrial products company's stock after acquiring an additional 40,000 shares during the period. 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 hedge funds have also bought and sold shares of the business. Dean Capital Management boosted its stake in Columbus McKinnon by 65.0% during the first quarter. Dean Capital Management now owns 85,617 shares of the industrial products company's stock worth $1,449,000 after acquiring an additional 33,741 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Columbus McKinnon by 5.1% during the first quarter. Goldman Sachs Group Inc. now owns 220,847 shares of the industrial products company's stock worth $3,739,000 after acquiring an additional 10,780 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Columbus McKinnon during the first quarter worth about $495,000. Front Street Capital Management Inc. lifted its stake in shares of Columbus McKinnon by 249.3% in the first quarter. Front Street Capital Management Inc. now owns 191,361 shares of the industrial products company's stock worth $3,240,000 after buying an additional 136,573 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Columbus McKinnon by 24.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 780,806 shares of the industrial products company's stock worth $13,219,000 after buying an additional 154,163 shares in the last quarter. Institutional investors own 95.96% of the company's stock.

Columbus McKinnon Stock Down 3.0%

Shares of NASDAQ CMCO traded down $0.45 during midday trading on Friday, hitting $14.44. The stock had a trading volume of 196,209 shares, compared to its average volume of 297,076. The business's 50 day moving average is $15.02 and its 200-day moving average is $15.56. The company has a market cap of $414.86 million, a P/E ratio of -26.74 and a beta of 1.28. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $41.05. 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 earnings results on Wednesday, July 30th. The industrial products company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.03. The firm had revenue of $235.92 million for the quarter, compared to the consensus estimate of $230.88 million. Columbus McKinnon had a negative net margin of 1.63% and a positive return on equity of 7.62%. As a group, analysts predict that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company 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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Friday, August 8th. Columbus McKinnon's dividend payout ratio is currently -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.