Palogic Value Management L.P. Takes Position in Columbus McKinnon Corporation $CMCO

Key Points

• Palogic Value Management purchased 75,102 shares of Columbus McKinnon worth approximately $1.14 million, acquiring a 0.26% stake. Institutional investors collectively own 95.96% of the company.
• Columbus McKinnon reported quarterly EPS of $0.61, exceeding analyst expectations of $0.27, while revenue reached $531.46 million and increased 125.3% year over year.
• CMCO shares opened at $17.98, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $23.00. The company also declared a quarterly dividend of $0.07 per share.

Palogic Value Management L.P. bought a new position in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 75,102 shares of the industrial products company's stock, valued at approximately $1,136,000. Palogic Value Management L.P. owned about 0.26% of Columbus McKinnon at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Sei Investments Co. lifted its holdings in Columbus McKinnon by 89.5% in the first quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company's stock worth $2,717,000 after buying an additional 88,285 shares during the period. First Eagle Investment Management LLC purchased a new position in shares of Columbus McKinnon during the 4th quarter worth approximately $2,465,000. Heartland Advisors Inc. raised its position in shares of Columbus McKinnon by 16.6% in the 1st quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company's stock worth $10,085,000 after acquiring an additional 98,950 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Columbus McKinnon by 232.5% in the 1st quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company's stock worth $5,366,000 after acquiring an additional 258,238 shares in the last quarter. Finally, Bernzott Capital Advisors lifted its stake in shares of Columbus McKinnon by 83.0% in the 4th quarter. Bernzott Capital Advisors now owns 540,807 shares of the industrial products company's stock valued at $9,329,000 after purchasing an additional 245,222 shares during the period. Hedge funds and other institutional investors own 95.96% of the company's stock.

Columbus McKinnon Trading Up 1.1%

Shares of NASDAQ CMCO opened at $17.98 on Thursday. The stock has a market capitalization of $518.90 million, a P/E ratio of -2.41 and a beta of 1.37. The company has a debt-to-equity ratio of 3.95, a current ratio of 2.00 and a quick ratio of 1.00. The business's 50 day moving average is $16.33 and its two-hundred day moving average is $16.15. Columbus McKinnon Corporation has a 1-year low of $11.99 and a 1-year high of $24.40.

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 analysts' consensus estimates 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 company had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. During the same period in the prior year, the company posted $0.50 EPS. The firm's revenue for the quarter was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, research analysts expect that Columbus McKinnon Corporation will post 2.05 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. Columbus McKinnon's payout ratio is presently -3.75%.

Insider Activity at Columbus McKinnon

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

Analyst Ratings Changes

CMCO has been the topic of several recent research reports. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Weiss Ratings cut shares of Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a report on Friday, July 31st. Zacks Research upgraded shares of Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. DA Davidson lowered their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, July 31st. 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 given a Sell rating to the company's stock. According to MarketBeat.com, Columbus McKinnon has a consensus rating of "Moderate Buy" and an average target price of $23.00.

About Columbus McKinnon

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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