Heartland Advisors Inc. Invests $8.24 Million in Columbus McKinnon Corporation $CMCO

Heartland Advisors Inc. purchased a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 544,750 shares of the industrial products company’s stock, valued at approximately $8,242,000. Heartland Advisors Inc. owned approximately 1.89% of Columbus McKinnon as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its holdings in shares of Columbus McKinnon by 48.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after buying an additional 565 shares in the last quarter. Group One Trading LLC lifted its stake in shares of Columbus McKinnon by 266.7% in the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock worth $32,000 after buying an additional 1,600 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its stake in shares of Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after buying an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,893 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in Columbus McKinnon by 41.4% during the fourth 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 during the last quarter. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $17.62 on Friday. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The company has a 50-day moving average price of $16.11 and a 200 day moving average price of $16.25. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40. The stock has a market cap of $508.51 million, a P/E ratio of -2.36 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.34. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The company had revenue of $531.46 million for the quarter, compared to analyst estimates of $501.27 million. During the same period in the previous year, the business posted $0.50 EPS. Columbus McKinnon’s revenue was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Sell-side analysts anticipate that Columbus McKinnon Corporation will post 2.05 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a yield of 1.6%. Columbus McKinnon’s dividend payout ratio is currently -3.75%.

Analysts Set New Price Targets

A number of analysts have commented on CMCO shares. DA Davidson cut their price objective 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. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. JPMorgan Chase & Co. increased their price target on Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Finally, Weiss Ratings downgraded Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research report on Friday, July 31st. Two equities research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

Insider Buying and Selling

In other Columbus McKinnon news, EVP John R. Linker acquired 7,500 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was bought at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president owned 7,500 shares of the company’s stock, valued at approximately $147,525. The trade was a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Christopher J. Stephens bought 2,750 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were acquired at an average cost of $17.14 per share, with a total value of $47,135.00. Following the purchase, the director owned 22,317 shares of the company’s stock, valued at $382,513.38. The trade was a 14.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 2.09% of the company’s stock.

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.