Y Intercept Hong Kong Ltd Decreases Stake in Columbus McKinnon Corporation $CMCO

Y Intercept Hong Kong Ltd lowered its position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 77.4% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 27,154 shares of the industrial products company’s stock after selling 93,223 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Columbus McKinnon were worth $395,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. EverSource Wealth Advisors LLC boosted its stake in shares of Columbus McKinnon by 48.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after buying an additional 565 shares during the last quarter. Group One Trading LLC increased its position in shares of Columbus McKinnon by 266.7% during the third quarter. Group One Trading LLC now owns 2,200 shares of the industrial products company’s stock valued at $32,000 after acquiring an additional 1,600 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in Columbus McKinnon by 66.7% during the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after acquiring an additional 1,000 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Columbus McKinnon by 267.8% during the second quarter. Tower Research Capital LLC TRC now owns 2,600 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 1,893 shares during the period. Finally, Royal Bank of Canada boosted its position in Columbus McKinnon by 41.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMCO shares. DA Davidson reduced their price objective on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a research note on Monday, June 15th. Wall Street Zen cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. Finally, Zacks Research lowered shares of Columbus McKinnon from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $22.00.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $13.18 on Wednesday. The business’s 50 day simple moving average is $14.42 and its 200 day simple moving average is $16.59. Columbus McKinnon Corporation has a 12 month low of $11.99 and a 12 month high of $24.40. The company has a market cap of $379.98 million, a price-to-earnings ratio of -2.41 and a beta of 1.39. 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 (NASDAQ:CMCO) last released its 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). The firm had revenue of $437.83 million during the quarter, compared to analysts’ expectations of $419.56 million. Columbus McKinnon had a positive return on equity of 7.09% and a negative net margin of 19.23%.The business’s quarterly revenue was up 77.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Sell-side analysts forecast that Columbus McKinnon Corporation will post 1.73 EPS for the current year.

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.