Columbus McKinnon Corporation $CMCO Shares Sold by Systematic Financial Management LP

Systematic Financial Management LP lessened its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 11.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 290,603 shares of the industrial products company’s stock after selling 37,273 shares during the quarter. Systematic Financial Management LP owned 1.01% of Columbus McKinnon worth $4,222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Signaturefd LLC boosted its holdings in Columbus McKinnon by 18.1% during the fourth quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock worth $61,000 after buying an additional 545 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 565 shares during the period. Pacific Ridge Capital Partners LLC lifted its position in shares of Columbus McKinnon by 4.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock valued at $346,000 after acquiring an additional 850 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Columbus McKinnon by 8.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock valued at $166,000 after acquiring an additional 852 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Columbus McKinnon by 41.4% during the 4th quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 918 shares in the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. DA Davidson lowered their price target on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. Wall Street Zen cut Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings downgraded Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, May 29th. Finally, Zacks Research lowered Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. One research 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 issued a Sell rating to the company. According to MarketBeat, Columbus McKinnon has a consensus rating of “Hold” and an average target price of $22.00.

Columbus McKinnon Stock Up 3.8%

CMCO stock opened at $16.12 on Friday. The company’s 50 day simple moving average is $14.35 and its 200-day simple moving average is $16.45. The firm has a market capitalization of $464.74 million, a PE ratio of -2.94 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 debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.98.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $437.83 million for the quarter, compared to analysts’ expectations of $419.56 million. During the same period last year, the business earned $0.60 earnings per share. The company’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 fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Friday, August 7th will be given a $0.07 dividend. This represents a $0.28 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, August 7th. Columbus McKinnon’s dividend 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.