Maverick Capital Ltd. Invests $535,000 in Columbus McKinnon Corporation $CMCO

Maverick Capital Ltd. acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 36,786 shares of the industrial products company’s stock, valued at approximately $535,000. Maverick Capital Ltd. owned about 0.13% of Columbus McKinnon at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC raised its holdings in shares of Columbus McKinnon by 18.1% in the fourth quarter. Signaturefd LLC now owns 3,554 shares of the industrial products company’s stock worth $61,000 after acquiring an additional 545 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Columbus McKinnon by 48.0% in the fourth 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 in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in shares of Columbus McKinnon by 4.4% during the fourth 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 last quarter. The Manufacturers Life Insurance Company increased its position in 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 worth $166,000 after purchasing an additional 852 shares in the last quarter. Finally, Royal Bank of Canada increased its position in 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 purchasing 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 research firms have issued reports on CMCO. Zacks Research lowered shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Wall Street Zen lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, DA Davidson reduced their price objective on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Columbus McKinnon presently has a consensus rating of “Hold” and an average target price of $22.00.

Columbus McKinnon Stock Down 9.8%

CMCO opened at $14.62 on Thursday. Columbus McKinnon Corporation has a 12 month low of $11.99 and a 12 month high of $24.40. The business has a 50-day moving average of $14.45 and a two-hundred day moving average of $16.37. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.98. The stock has a market capitalization of $421.49 million, a price-to-earnings ratio of -2.67 and a beta of 1.39.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing the consensus estimate 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 company had revenue of $437.83 million for the quarter, compared to analysts’ expectations of $419.56 million. During the same quarter in the previous year, the company earned $0.60 earnings per share. The company’s revenue was up 77.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. On average, research analysts expect that Columbus McKinnon Corporation will post 1.73 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, August 17th. Stockholders of record on Friday, August 7th will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, August 7th. This represents a $0.28 annualized dividend and a dividend yield of 1.9%. Columbus McKinnon’s payout ratio is currently -5.11%.

Columbus McKinnon 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.