Access Investment Management LLC Makes New $1.26 Million Investment in Columbus McKinnon Corporation $CMCO

Access Investment Management LLC bought a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 82,215 shares of the industrial products company’s stock, valued at approximately $1,255,000. Access Investment Management LLC owned 0.29% of Columbus McKinnon as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in CMCO. Signaturefd LLC grew its holdings in shares of Columbus McKinnon by 743.4% during the first quarter. Signaturefd LLC now owns 2,429 shares of the industrial products company’s stock worth $41,000 after buying an additional 2,141 shares in the last quarter. High Note Wealth LLC acquired a new position in Columbus McKinnon during the first quarter worth $48,000. CWM LLC grew its position in Columbus McKinnon by 79.2% in the first quarter. CWM LLC now owns 3,422 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,512 shares in the last quarter. Public Employees Retirement System of Ohio increased its stake in Columbus McKinnon by 942.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 8,340 shares of the industrial products company’s stock valued at $127,000 after buying an additional 7,540 shares during the last quarter. Finally, State of Wyoming increased its position in shares of Columbus McKinnon by 131.7% in the first quarter. State of Wyoming now owns 7,874 shares of the industrial products company’s stock valued at $133,000 after acquiring an additional 4,476 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Columbus McKinnon Stock Performance

NASDAQ:CMCO opened at $16.23 on Monday. The stock’s 50-day moving average is $15.05 and its 200-day moving average is $15.26. Columbus McKinnon Corporation has a 1-year low of $11.78 and a 1-year 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 stock has a market cap of $466.21 million, a P/E ratio of -30.06 and a beta of 1.26.

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

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 17th. Shareholders of record on Friday, November 7th will be paid a dividend of $0.07 per share. The ex-dividend date is Friday, November 7th. This represents a $0.28 annualized dividend and a yield of 1.7%. Columbus McKinnon’s dividend payout ratio (DPR) is 200.00%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Wall Street Zen raised Columbus McKinnon from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Weiss Ratings restated a “sell (d)” rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Reduce” and an average price target of $35.00.

About Columbus McKinnon

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.