Two Sigma Investments LP Sells 83,482 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Two Sigma Investments LP cut its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 71.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,172 shares of the industrial products company's stock after selling 83,482 shares during the quarter. Two Sigma Investments LP owned about 0.12% of Columbus McKinnon worth $1,273,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMCO. Vaughan Nelson Investment Management L.P. bought a new position in shares of Columbus McKinnon during the fourth quarter valued at $26,416,000. Victory Capital Management Inc. boosted its position in shares of Columbus McKinnon by 117.8% during the fourth quarter. Victory Capital Management Inc. now owns 737,250 shares of the industrial products company's stock valued at $27,455,000 after buying an additional 398,826 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Columbus McKinnon during the fourth quarter valued at $14,799,000. Segall Bryant & Hamill LLC boosted its position in shares of Columbus McKinnon by 95.3% during the fourth quarter. Segall Bryant & Hamill LLC now owns 730,125 shares of the industrial products company's stock valued at $27,190,000 after buying an additional 356,232 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Columbus McKinnon by 207.9% during the fourth quarter. Invesco Ltd. now owns 455,210 shares of the industrial products company's stock valued at $16,952,000 after buying an additional 307,355 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Stock Performance

NASDAQ:CMCO traded up $0.50 on Friday, hitting $15.35. The stock had a trading volume of 403,406 shares, compared to its average volume of 372,063. The stock has a market cap of $439.50 million, a price-to-earnings ratio of 46.52 and a beta of 1.28. The company has a quick ratio of 1.10, a current ratio of 2.03 and a debt-to-equity ratio of 0.50. The business's 50-day simple moving average is $15.17 and its two-hundred day simple moving average is $24.77. Columbus McKinnon Co. has a 52-week low of $11.78 and a 52-week high of $41.05.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last announced its earnings results on Wednesday, May 28th. The industrial products company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.02. The business had revenue of $248.00 million for the quarter, compared to analysts' expectations of $250.05 million. Columbus McKinnon had a return on equity of 8.64% and a net margin of 0.95%. The business's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period last year, the firm posted $0.75 earnings per share. As a group, research analysts predict that Columbus McKinnon Co. will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 12th. Shareholders of record on Friday, May 2nd were given a $0.07 dividend. The ex-dividend date was Friday, May 2nd. This represents a $0.28 annualized dividend and a yield of 1.82%. Columbus McKinnon's payout ratio is -164.71%.

Insiders Place Their Bets

In related news, Director Kathryn V. Bohl acquired 2,819 shares of the firm's stock in a transaction dated Wednesday, March 19th. The shares were purchased at an average price of $17.99 per share, with a total value of $50,713.81. Following the completion of the purchase, the director now directly owns 14,812 shares of the company's stock, valued at $266,467.88. This represents a 23.51% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have bought 4,819 shares of company stock valued at $79,634. Insiders own 1.98% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Wall Street Zen cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research report on Tuesday, February 11th. DA Davidson reaffirmed a "neutral" rating and set a $35.00 price objective on shares of Columbus McKinnon in a research report on Tuesday, February 18th.

Columbus McKinnon Company 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.