Empowered Funds LLC Invests $4.01 Million in Columbus McKinnon Corporation $CMCO

Empowered Funds LLC bought a new stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 265,105 shares of the industrial products company’s stock, valued at approximately $4,011,000. Empowered Funds LLC owned approximately 0.92% of Columbus McKinnon as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. boosted its holdings in Columbus McKinnon by 89.5% during the first quarter. Sei Investments Co. now owns 186,969 shares of the industrial products company’s stock valued at $2,717,000 after purchasing an additional 88,285 shares in the last quarter. First Eagle Investment Management LLC acquired a new position in shares of Columbus McKinnon in the 4th quarter worth approximately $2,465,000. Renaissance Technologies LLC lifted its position in shares of Columbus McKinnon by 232.5% during the 1st quarter. Renaissance Technologies LLC now owns 369,323 shares of the industrial products company’s stock worth $5,366,000 after buying an additional 258,238 shares during the period. Stanley Capital Management LLC bought a new position in shares of Columbus McKinnon during the 2nd quarter worth approximately $12,936,000. Finally, Heartland Advisors Inc. boosted its stake in Columbus McKinnon by 16.6% in the 1st quarter. Heartland Advisors Inc. now owns 694,050 shares of the industrial products company’s stock valued at $10,085,000 after buying an additional 98,950 shares in the last quarter. Institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CMCO. DA Davidson lowered their price target on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research report on Monday, June 15th. Wall Street Zen downgraded shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Columbus McKinnon has a consensus rating of “Moderate Buy” and a consensus price target of $23.00.

Insider Activity

In related news, EVP John R. Linker acquired 7,500 shares of the stock in a transaction on Friday, July 31st. The stock was purchased at an average price of $19.67 per share, for a total transaction of $147,525.00. Following the transaction, the executive vice president owned 7,500 shares of the company’s stock, valued at $147,525. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Christopher J. Stephens bought 2,750 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was bought at an average cost of $17.14 per share, with a total value of $47,135.00. Following the completion of the purchase, the director owned 22,317 shares of the company’s stock, valued at approximately $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.

Columbus McKinnon Trading Down 1.9%

Shares of CMCO opened at $17.66 on Tuesday. The company has a debt-to-equity ratio of 3.95, a quick ratio of 1.00 and a current ratio of 2.00. The company has a market cap of $509.74 million, a price-to-earnings ratio of -2.37 and a beta of 1.37. The stock has a fifty day moving average price of $16.53 and a two-hundred day moving average price of $16.05. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-week high of $24.40.

Columbus McKinnon (NASDAQ:CMCO) last announced 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. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.The company had revenue of $531.46 million for the quarter, compared to analysts’ expectations of $501.27 million. During the same quarter in the prior year, the business earned $0.50 earnings per share. The business’s revenue for the quarter was up 125.3% on a year-over-year basis. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. Analysts predict that Columbus McKinnon Corporation will post 2.05 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were issued a dividend of $0.07 per share. The ex-dividend date of this dividend 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%.

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.