Columbus McKinnon Corporation $CMCO is Palogic Value Management L.P.'s 3rd Largest Position

Key Points

• Palogic Value Management L.P. increased its holdings in Columbus McKinnon Corporation by 514.8%, acquiring an additional 420,000 shares, which now represents approximately 3.6% of their total portfolio.
• Columbus McKinnon reported a net earnings per share of $0.50 for the last quarter, exceeding estimates by $0.03, indicating positive financial performance.
• The company recently declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend yield of 1.9%.

Palogic Value Management L.P. grew its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 514.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 501,585 shares of the industrial products company's stock after purchasing an additional 420,000 shares during the period. Columbus McKinnon makes up approximately 3.6% of Palogic Value Management L.P.'s portfolio, making the stock its 3rd biggest holding. Palogic Value Management L.P. owned about 1.75% of Columbus McKinnon worth $8,492,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Versant Capital Management Inc increased its holdings in shares of Columbus McKinnon by 3,784.1% in the first quarter. Versant Capital Management Inc now owns 2,447 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 2,384 shares during the period. Signaturefd LLC lifted its position in Columbus McKinnon by 743.4% in the first quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company's stock valued at $41,000 after purchasing an additional 2,141 shares during the period. Parallel Advisors LLC acquired a new stake in Columbus McKinnon in the first quarter valued at about $47,000. High Note Wealth LLC acquired a new stake in Columbus McKinnon in the first quarter valued at about $48,000. Finally, CWM LLC lifted its position in Columbus McKinnon by 79.2% in the first quarter. CWM LLC now owns 3,422 shares of the industrial products company's stock valued at $58,000 after purchasing an additional 1,512 shares during the period. Institutional investors and hedge funds own 95.96% of the company's stock.

Columbus McKinnon Stock Performance

NASDAQ:CMCO traded up $0.19 during mid-day trading on Thursday, reaching $14.52. The stock had a trading volume of 71,816 shares, compared to its average volume of 493,014. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.01 and a current ratio of 1.85. The firm has a market capitalization of $417.16 million, a price-to-earnings ratio of -26.81 and a beta of 1.28. Columbus McKinnon Corporation has a twelve month low of $11.78 and a twelve month high of $41.05. The business has a 50 day simple moving average of $15.18 and a 200 day simple moving average of $15.81.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced 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 firm had revenue of $235.92 million during 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%. On average, analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

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