Columbus McKinnon Corporation $CMCO Stock Sold by Isthmus Partners LLC

Isthmus Partners LLC lowered its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 48.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 68,881 shares of the industrial products company’s stock after selling 65,816 shares during the quarter. Isthmus Partners LLC’s holdings in Columbus McKinnon were worth $1,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Columbus McKinnon during the second quarter valued at about $37,183,000. Stanley Capital Management LLC purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $12,936,000. Heartland Advisors Inc. purchased a new stake in shares of Columbus McKinnon in the second quarter worth about $8,242,000. Empowered Funds LLC bought a new position in shares of Columbus McKinnon in the second quarter valued at approximately $4,011,000. Finally, Renaissance Technologies LLC boosted its position in shares of Columbus McKinnon by 232.5% in the first quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock valued at $5,366,000 after acquiring an additional 258,238 shares during the period. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Insider Activity

In other Columbus McKinnon news, EVP John R. Linker acquired 7,500 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $19.67 per share, with a total value of $147,525.00. Following the completion of the acquisition, the executive vice president owned 7,500 shares of the company’s stock, valued at $147,525. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Christopher J. Stephens acquired 2,750 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was bought at an average price of $17.14 per share, for a total transaction of $47,135.00. Following the completion of the transaction, 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 position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 2.09% of the company’s stock.

Wall Street Analyst Weigh In

CMCO has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Zacks Research lowered shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Finally, Weiss Ratings cut shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Columbus McKinnon currently has an average rating of “Hold” and a consensus target price of $23.00.

Columbus McKinnon Price Performance

NASDAQ:CMCO opened at $13.76 on Friday. The firm has a market capitalization of $397.11 million, a price-to-earnings ratio of -1.84 and a beta of 1.43. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-week high of $24.40. The stock has a fifty day moving average of $16.75 and a 200 day moving average of $15.88. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00.

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.27 by $0.34. The business had revenue of $531.46 million during the quarter, compared to analysts’ expectations of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%. The firm’s revenue was up 125.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. On average, research analysts expect that Columbus McKinnon Corporation will post 2.00 EPS for the current fiscal year.

Columbus McKinnon Profile

Columbus McKinnon Corporation is a global manufacturer of intelligent motion solutions and lifting equipment. The company designs and supplies products used to move, lift, position and secure materials in industrial, commercial and infrastructure applications.

Its product portfolio includes electric and manual hoists, overhead cranes, winches, actuators, rigging equipment, load-positioning systems, crane controls and safety systems. Columbus McKinnon also offers automation technologies and software intended to improve the efficiency, safety and control of material-handling operations.