Walleye Capital LLC Invests $3.17 Million in Columbus McKinnon Corporation $CMCO

Key Points

• Walleye Capital LLC acquired 187,092 shares of Columbus McKinnon Corporation, valued at approximately $3,167,000, representing about 0.65% ownership of the company.
• Columbus McKinnon recently reported a quarterly earnings per share of $0.50, exceeding analysts' expectations, and had revenue of $235.92 million for the quarter.
• The company declared a quarterly dividend of $0.07 per share, resulting in an annualized dividend yield of 1.8% for shareholders.

Walleye Capital LLC purchased a new stake in Columbus McKinnon Corporation (NASDAQ:CMCO - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 187,092 shares of the industrial products company's stock, valued at approximately $3,167,000. Walleye Capital LLC owned 0.65% of Columbus McKinnon at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CMCO. Invesco Ltd. increased its position in Columbus McKinnon by 177.5% during the 1st quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company's stock worth $21,388,000 after buying an additional 808,110 shares during the period. Heartland Advisors Inc. increased its position in Columbus McKinnon by 477.4% during the first quarter. Heartland Advisors Inc. now owns 577,375 shares of the industrial products company's stock worth $9,775,000 after acquiring an additional 477,375 shares during the period. Bernzott Capital Advisors increased its position in Columbus McKinnon by 315.0% during the first quarter. Bernzott Capital Advisors now owns 419,670 shares of the industrial products company's stock worth $7,105,000 after acquiring an additional 318,537 shares during the period. Hotchkis & Wiley Capital Management LLC bought a new position in Columbus McKinnon during the first quarter worth about $4,877,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Columbus McKinnon by 37.5% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 975,355 shares of the industrial products company's stock valued at $16,513,000 after purchasing an additional 266,020 shares during the period. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of CMCO traded down $0.24 during mid-day trading on Monday, hitting $14.98. 809,817 shares of the company's stock were exchanged, compared to its average volume of 309,239. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $41.05. The stock's 50-day simple moving average is $15.17 and its 200-day simple moving average is $15.87. The firm has a market cap of $430.38 million, a price-to-earnings ratio of -27.74 and a beta of 1.28. The company has a quick ratio of 1.01, a current ratio of 1.85 and a debt-to-equity ratio of 0.46.

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

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 18th. Investors of record on Friday, August 8th were given a $0.07 dividend. The ex-dividend date was Friday, August 8th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.9%. Columbus McKinnon's dividend payout ratio (DPR) is presently -51.85%.

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.