Columbus McKinnon Corporation $CMCO Shares Bought by AlphaQuest LLC

AlphaQuest LLC raised its stake in Columbus McKinnon Corporation (NASDAQ:CMCO) by 23.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,136 shares of the industrial products company’s stock after acquiring an additional 5,838 shares during the quarter. AlphaQuest LLC’s holdings in Columbus McKinnon were worth $475,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Columbus McKinnon by 177.5% in the first quarter. Invesco Ltd. now owns 1,263,320 shares of the industrial products company’s stock worth $21,388,000 after acquiring an additional 808,110 shares during the last quarter. Segall Bryant & Hamill LLC increased its stake in Columbus McKinnon by 7.7% in the first quarter. Segall Bryant & Hamill LLC now owns 786,153 shares of the industrial products company’s stock valued at $13,310,000 after purchasing an additional 56,028 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Columbus McKinnon by 24.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 780,806 shares of the industrial products company’s stock valued at $13,219,000 after purchasing an additional 154,163 shares during the last quarter. Heartland Advisors Inc. increased its stake in Columbus McKinnon by 477.4% in the first quarter. Heartland Advisors Inc. now owns 577,375 shares of the industrial products company’s stock valued at $9,775,000 after purchasing an additional 477,375 shares during the last quarter. Finally, Stanley Capital Management LLC acquired a new position in Columbus McKinnon in the first quarter valued at $8,888,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

CMCO stock opened at $15.40 on Wednesday. The stock has a 50-day moving average price of $14.95 and a two-hundred day moving average price of $15.19. Columbus McKinnon Corporation has a 12-month low of $11.78 and a 12-month high of $41.05. The company has a current ratio of 1.85, a quick ratio of 1.01 and a debt-to-equity ratio of 0.46. The company has a market cap of $442.44 million, a PE ratio of -28.52 and a beta of 1.26.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. Columbus McKinnon had a positive return on equity of 7.62% and a negative net margin of 1.63%.The firm had revenue of $166.55 million during the quarter. As a group, research analysts predict that Columbus McKinnon Corporation will post 2.69 EPS for the current year.

Columbus McKinnon Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, November 7th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Friday, November 7th. Columbus McKinnon’s payout ratio is -51.85%.

Analyst Upgrades and Downgrades

CMCO has been the subject of several analyst reports. Wall Street Zen upgraded Columbus McKinnon from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce” and an average price target of $35.00.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.