Victory Capital Management Inc. Has $777,000 Stock Position in Columbus McKinnon Corporation (NASDAQ:CMCO)

Key Points

• Victory Capital Management Inc. significantly reduced its position in Columbus McKinnon Corporation by 93.8% during the first quarter, selling over 691,000 shares.
• Columbus McKinnon announced a quarterly dividend of $0.07, equating to an annualized yield of 2.0%, despite having a high negative dividend payout ratio of -164.71%.
• The company reported better-than-expected earnings per share of $0.50 for the last quarter, exceeding analyst estimates by $0.03.

Victory Capital Management Inc. trimmed its position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) by 93.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,912 shares of the industrial products company's stock after selling 691,338 shares during the period. Victory Capital Management Inc. owned approximately 0.16% of Columbus McKinnon worth $777,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of CMCO. Sterling Capital Management LLC raised its position in Columbus McKinnon by 810.0% in the fourth quarter. Sterling Capital Management LLC now owns 910 shares of the industrial products company's stock worth $34,000 after purchasing an additional 810 shares in the last quarter. Bridge City Capital LLC grew its stake in shares of Columbus McKinnon by 0.9% during the first quarter. Bridge City Capital LLC now owns 97,082 shares of the industrial products company's stock valued at $1,644,000 after purchasing an additional 864 shares during the last quarter. Meros Investment Management LP grew its stake in shares of Columbus McKinnon by 0.3% during the fourth quarter. Meros Investment Management LP now owns 277,468 shares of the industrial products company's stock valued at $10,333,000 after purchasing an additional 962 shares during the last quarter. MetLife Investment Management LLC grew its stake in shares of Columbus McKinnon by 7.0% during the fourth quarter. MetLife Investment Management LLC now owns 17,247 shares of the industrial products company's stock valued at $642,000 after purchasing an additional 1,127 shares during the last quarter. Finally, CWM LLC boosted its stake 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 acquiring an additional 1,512 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Trading Up 3.1%

CMCO stock traded up $0.42 during midday trading on Tuesday, reaching $14.17. The company's stock had a trading volume of 121,389 shares, compared to its average volume of 519,588. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $41.05. The stock has a market cap of $407.10 million, a PE ratio of -26.25 and a beta of 1.29. The company has a quick ratio of 1.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.46. The business's 50-day simple moving average is $15.44 and its 200-day simple moving average is $18.40.

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

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 18th. Shareholders of record on Friday, August 8th will be paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 8th. Columbus McKinnon's payout ratio 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.