Heartland Advisors Inc. Has $10.27 Million Holdings in Columbus McKinnon Corporation $CMCO

Heartland Advisors Inc. raised its holdings in Columbus McKinnon Corporation (NASDAQ:CMCO) by 26.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 595,100 shares of the industrial products company’s stock after acquiring an additional 123,025 shares during the quarter. Heartland Advisors Inc.’s holdings in Columbus McKinnon were worth $10,265,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMCO. Marshall Wace LLP increased its holdings in shares of Columbus McKinnon by 698.6% during the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after acquiring an additional 635,770 shares in the last quarter. Hotchkis & Wiley Capital Management LLC increased its holdings in shares of Columbus McKinnon by 100.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after acquiring an additional 415,275 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock valued at $12,203,000 after acquiring an additional 379,096 shares in the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Columbus McKinnon during the fourth quarter valued at approximately $6,395,000. Finally, AQR Capital Management LLC increased its holdings in shares of Columbus McKinnon by 286.0% during the second quarter. AQR Capital Management LLC now owns 476,656 shares of the industrial products company’s stock valued at $7,279,000 after acquiring an additional 353,158 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on CMCO. Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Sunday, March 22nd. JPMorgan Chase & Co. decreased their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. DA Davidson restated a “neutral” rating and set a $20.00 price objective on shares of Columbus McKinnon in a report on Friday, June 5th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Finally, Zacks Research downgraded Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Columbus McKinnon currently has an average rating of “Hold” and an average target price of $23.50.

Columbus McKinnon Trading Down 4.6%

Shares of Columbus McKinnon stock opened at $12.12 on Thursday. The stock has a fifty day simple moving average of $15.01 and a 200 day simple moving average of $17.10. Columbus McKinnon Corporation has a 12-month low of $12.10 and a 12-month high of $24.40. The company has a market capitalization of $349.42 million, a P/E ratio of -2.21 and a beta of 1.38. The company has a current ratio of 2.02, a quick ratio of 0.99 and a debt-to-equity ratio of 3.38.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.12). Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The company had revenue of $437.83 million for the quarter, compared to the consensus estimate of $419.57 million. During the same quarter last year, the company posted $0.60 EPS. The company’s quarterly revenue was up 77.3% compared to the same quarter last year. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, sell-side analysts anticipate that Columbus McKinnon Corporation will post 1.7 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 11th. Investors of record on Friday, May 1st were issued a dividend of $0.07 per share. The ex-dividend date was Friday, May 1st. This represents a $0.28 annualized dividend and a yield of 2.3%. Columbus McKinnon’s dividend payout ratio is -5.11%.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.