Systematic Financial Management LP Reduces Holdings in Columbus McKinnon Corporation $CMCO

Key Points

• Systematic Financial Management LP reduced its stake in Columbus McKinnon Corporation by 58.2% during the first quarter, now owning 346,702 shares valued at approximately $5.87 million.
• Columbus McKinnon reported a quarterly earnings per share of $0.50, exceeding analyst expectations of $0.47, with total revenue of $235.92 million.
• The company recently declared a quarterly dividend of $0.07 per share, yielding approximately 1.8% annually.

Systematic Financial Management LP reduced its stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 58.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 346,702 shares of the industrial products company's stock after selling 482,378 shares during the period. Systematic Financial Management LP owned approximately 1.21% of Columbus McKinnon worth $5,870,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Columbus McKinnon by 13.5% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,547,958 shares of the industrial products company's stock valued at $57,646,000 after buying an additional 184,615 shares during the last quarter. Invesco Ltd. increased its holdings in Columbus McKinnon by 177.5% in the first quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock valued at $21,388,000 after buying an additional 808,110 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Columbus McKinnon by 37.5% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock worth $16,513,000 after purchasing an additional 266,020 shares during the last quarter. Segall Bryant & Hamill LLC grew its holdings in shares of Columbus McKinnon by 7.7% during the first quarter. Segall Bryant & Hamill LLC now owns 786,153 shares of the industrial products company's stock worth $13,310,000 after purchasing an additional 56,028 shares during the last quarter. Finally, Aristotle Capital Boston LLC boosted its stake in shares of Columbus McKinnon by 19.3% during the fourth quarter. Aristotle Capital Boston LLC now owns 701,614 shares of the industrial products company's stock worth $26,128,000 after buying an additional 113,685 shares during the period. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

Shares of CMCO traded down $0.24 during mid-day trading on Friday, hitting $14.98. 43,481 shares of the company's stock were exchanged, compared to its average volume of 492,165. Columbus McKinnon Corporation has a fifty-two week low of $11.78 and a fifty-two week high of $41.05. The firm has a market capitalization of $430.40 million, a P/E ratio of -27.81 and a beta of 1.29. The business's 50 day moving average is $15.16 and its two-hundred day moving average is $15.97. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46.

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

Columbus McKinnon Announces Dividend

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