Heartland Advisors Inc. Has $10.09 Million Stock Position in Columbus McKinnon Corporation $CMCO

Heartland Advisors Inc. increased its position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 16.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 694,050 shares of the industrial products company’s stock after buying an additional 98,950 shares during the quarter. Heartland Advisors Inc.’s holdings in Columbus McKinnon were worth $10,085,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CMCO. Marshall Wace LLP lifted its stake in Columbus McKinnon by 698.6% during the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock worth $10,422,000 after purchasing an additional 635,770 shares during the period. AQR Capital Management LLC grew its holdings in shares of Columbus McKinnon by 76.8% during the fourth quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after purchasing an additional 481,470 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its stake in shares of Columbus McKinnon by 100.2% in 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 buying an additional 415,275 shares in the last quarter. Millennium Management LLC lifted its position in Columbus McKinnon by 80.3% during the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock worth $12,203,000 after buying an additional 379,096 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Columbus McKinnon during the 4th quarter worth about $6,395,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $14.36 on Friday. The business’s 50-day simple moving average is $14.33 and its 200 day simple moving average is $16.53. The stock has a market cap of $414.00 million, a price-to-earnings ratio of -2.62 and a beta of 1.39. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40. The company has a quick ratio of 0.98, a current ratio of 2.02 and a debt-to-equity ratio of 3.38.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The firm had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.56 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.Columbus McKinnon’s revenue for the quarter was up 77.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. As a group, research analysts anticipate that Columbus McKinnon Corporation will post 1.73 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on CMCO. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Zacks Research lowered shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings cut shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, DA Davidson lowered their price target on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $22.00.

Columbus McKinnon 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.