SummerHaven Investment Management LLC Takes $735,000 Position in Columbus McKinnon Corporation $CMCO

SummerHaven Investment Management LLC acquired a new position in Columbus McKinnon Corporation (NASDAQ:CMCO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 51,250 shares of the industrial products company’s stock, valued at approximately $735,000. SummerHaven Investment Management LLC owned approximately 0.18% of Columbus McKinnon at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CMCO. Simplex Trading LLC grew its holdings in shares of Columbus McKinnon by 782.2% during the 2nd quarter. Simplex Trading LLC now owns 1,685 shares of the industrial products company’s stock worth $25,000 after acquiring an additional 1,932 shares during the period. Wilmington Savings Fund Society FSB raised its holdings in Columbus McKinnon by 66.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock worth $36,000 after purchasing an additional 1,000 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Columbus McKinnon by 267.8% in the 2nd 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 in the last quarter. Canada Pension Plan Investment Board purchased a new stake in Columbus McKinnon in the second quarter worth about $58,000. Finally, Signaturefd LLC lifted its holdings in shares of Columbus McKinnon by 58.4% during the second quarter. Signaturefd LLC now owns 3,847 shares of the industrial products company’s stock valued at $59,000 after purchasing an additional 1,418 shares during the last quarter. 95.96% of the stock is currently owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $20.75 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.81 and a debt-to-equity ratio of 0.45. The company has a 50 day moving average price of $18.17 and a 200-day moving average price of $16.13. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $37.50. The firm has a market capitalization of $596.15 million, a PE ratio of 148.22 and a beta of 1.29.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Thursday, October 30th. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.54 by $0.08. The company had revenue of $261.05 million for the quarter, compared to analysts’ expectations of $240.63 million. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. During the same quarter last year, the company posted $0.70 earnings per share. As a group, equities research analysts expect that Columbus McKinnon Corporation will post 2.69 earnings per share for the current year.

Columbus McKinnon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be issued a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.28 annualized dividend and a dividend yield of 1.3%. Columbus McKinnon’s payout ratio is presently 200.00%.

Analyst Ratings Changes

A number of research firms recently weighed in on CMCO. DA Davidson set a $15.00 price objective on Columbus McKinnon in a research report on Thursday, January 15th. Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. CJS Securities upgraded shares of Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $15.00.

Columbus McKinnon Company 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.