Columbus McKinnon Corporation $CMCO Shares Sold by CastleKnight Management LP

CastleKnight Management LP lowered its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 511,200 shares of the industrial products company’s stock after selling 46,400 shares during the period. CastleKnight Management LP’s holdings in Columbus McKinnon were worth $8,818,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in CMCO. Marshall Wace LLP boosted its stake in shares of Columbus McKinnon by 698.6% during the third quarter. Marshall Wace LLP now owns 726,772 shares of the industrial products company’s stock valued at $10,422,000 after acquiring an additional 635,770 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Columbus McKinnon by 76.8% during the fourth quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock valued at $19,121,000 after acquiring an additional 481,470 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its stake in shares of Columbus McKinnon by 100.2% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after acquiring an additional 415,275 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Columbus McKinnon by 80.3% during the third quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock valued at $12,203,000 after acquiring an additional 379,096 shares during the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of Columbus McKinnon during the fourth quarter valued at $6,395,000. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Stock Up 0.4%

Shares of NASDAQ:CMCO opened at $13.98 on Thursday. The stock’s 50-day moving average price is $15.00 and its two-hundred day moving average price is $17.03. The company has a current ratio of 2.02, a quick ratio of 0.98 and a debt-to-equity ratio of 3.38. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40. The firm has a market cap of $403.04 million, a price-to-earnings ratio of -2.55 and a beta of 1.38.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.57 million. During the same period in the previous year, the business posted $0.60 earnings per share. The firm’s quarterly 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 forecast that Columbus McKinnon Corporation will post 1.73 EPS for the current year.

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 11th. Shareholders of record on Friday, May 1st were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date of this dividend was Friday, May 1st. Columbus McKinnon’s dividend payout ratio (DPR) is presently -5.11%.

Analyst Ratings Changes

CMCO has been the topic of a number of analyst reports. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. DA Davidson decreased their price objective on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a research note on Monday. JPMorgan Chase & Co. decreased their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Weiss Ratings lowered Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Columbus McKinnon currently has an average rating of “Moderate Buy” and an average price target of $22.00.

About Columbus McKinnon

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.