K2 Principal Fund L.P. Takes $694,000 Position in Columbus McKinnon Corporation $CMCO

K2 Principal Fund L.P. acquired a new stake in Columbus McKinnon Corporation (NASDAQ:CMCO) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 40,225 shares of the industrial products company’s stock, valued at approximately $694,000.

A number of other institutional investors have also added to or reduced their stakes in the company. Barclays PLC increased its holdings in Columbus McKinnon by 15.6% during the fourth quarter. Barclays PLC now owns 67,425 shares of the industrial products company’s stock worth $1,163,000 after buying an additional 9,118 shares during the last quarter. Walleye Capital LLC increased its holdings in Columbus McKinnon by 16.7% during the fourth quarter. Walleye Capital LLC now owns 297,755 shares of the industrial products company’s stock worth $5,136,000 after buying an additional 42,645 shares during the last quarter. Stanley Capital Management LLC increased its holdings in Columbus McKinnon by 4.4% during the fourth quarter. Stanley Capital Management LLC now owns 705,000 shares of the industrial products company’s stock worth $12,161,000 after buying an additional 30,000 shares during the last quarter. Essex Investment Management Co. LLC acquired a new position in Columbus McKinnon during the fourth quarter worth $3,588,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Columbus McKinnon by 12.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 593,232 shares of the industrial products company’s stock worth $10,233,000 after buying an additional 66,837 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on CMCO. DA Davidson restated a “neutral” rating and set a $20.00 target price on shares of Columbus McKinnon in a report on Friday, June 5th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Finally, Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.50.

Columbus McKinnon Price Performance

NASDAQ:CMCO opened at $13.83 on Friday. Columbus McKinnon Corporation has a one year low of $11.99 and a one year high of $24.40. The company has a market cap of $398.72 million, a P/E ratio of -2.52 and a beta of 1.38. The firm’s fifty day moving average price is $14.98 and its two-hundred day moving average price is $17.06. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.99.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.12). Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The company had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.57 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Columbus McKinnon’s revenue for the quarter was up 77.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Equities analysts expect that Columbus McKinnon Corporation will post 1.73 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were issued a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, May 1st. Columbus McKinnon’s payout ratio is currently -5.11%.

About Columbus McKinnon

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.