Squarepoint Ops LLC Takes $1.23 Million Position in Columbus McKinnon Corporation $CMCO

Key Points

• Squarepoint Ops LLC acquired 80,983 Columbus McKinnon shares worth approximately $1.23 million, while institutional investors collectively owned 95.96% of the company.
• Columbus McKinnon reported quarterly EPS of $0.61, surpassing the $0.27 consensus estimate, with revenue rising 125.3% year over year to $531.46 million.
• Analyst sentiment remains mixed but leans positive: the stock has a “Moderate Buy” consensus rating and an average price target of $23, compared with a recent price of $16.10.

Squarepoint Ops LLC acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 80,983 shares of the industrial products company's stock, valued at approximately $1,225,000. Squarepoint Ops LLC owned about 0.28% of Columbus McKinnon at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Sei Investments Co. increased its position in Columbus McKinnon by 89.5% during the 1st quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company's stock valued at $2,717,000 after purchasing an additional 88,285 shares during the period. BlackRock Inc. acquired a new position in shares of Columbus McKinnon in the 2nd quarter worth approximately $37,183,000. Stanley Capital Management LLC bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $12,936,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Columbus McKinnon in the 2nd quarter valued at $1,158,000. Finally, Renaissance Technologies LLC increased its position in shares of Columbus McKinnon by 232.5% during the first quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company's stock worth $5,366,000 after buying an additional 258,238 shares during the period. 95.96% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $16.10 on Thursday. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. Columbus McKinnon Corporation has a twelve month low of $11.99 and a twelve month high of $24.40. The company has a fifty day moving average of $17.37 and a 200-day moving average of $15.85. The firm has a market capitalization of $464.65 million, a P/E ratio of -2.16 and a beta of 1.36.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS 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 business had revenue of $531.46 million during the quarter, compared to analysts' expectations of $501.27 million. During the same period last year, the company posted $0.50 earnings per share. The business's quarterly revenue 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, sell-side analysts anticipate that Columbus McKinnon Corporation will post 2.05 EPS for the current year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Stockholders of record on Friday, August 7th were paid a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. Columbus McKinnon's dividend payout ratio (DPR) is currently -3.75%.

Analysts Set New Price Targets

CMCO has been the subject of a number of analyst reports. DA Davidson lowered their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a "neutral" rating for the company in a research note on Monday, June 15th. Wall Street Zen cut shares of Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. increased their price target on Columbus McKinnon from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, July 31st. Weiss Ratings lowered Columbus McKinnon from a "sell (d)" rating to a "sell (d-)" rating in a research report on Friday, July 31st. Finally, Zacks Research raised Columbus McKinnon from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.00.

About Columbus McKinnon

Columbus McKinnon Corporation is an industrial technology company that designs, manufactures and distributes products and systems used to move, lift, position and control materials. Its solutions support material handling, automation and motion-control applications across a range of industrial and commercial markets.

The company's product portfolio includes electric and manual hoists, cranes and crane components, lifting equipment, actuators, gear reducers, conveyors, precision positioning systems and related controls.

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