68,600 Shares in Columbus McKinnon Corporation $CMCO Acquired by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 68,600 shares of the industrial products company’s stock, valued at approximately $1,038,000.

A number of other institutional investors also recently bought and sold shares of CMCO. Stanley Capital Management LLC acquired a new stake in Columbus McKinnon during the 2nd quarter worth about $12,936,000. Hsbc Holdings PLC purchased a new position in Columbus McKinnon during the second quarter worth approximately $797,000. Legal & General Group Plc acquired a new position in Columbus McKinnon in the 2nd quarter valued at about $44,000. Front Street Capital Management Inc. purchased a new position in shares of Columbus McKinnon during the 2nd quarter worth $3,473,000. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Columbus McKinnon during the 2nd quarter worth approximately $1,158,000. 95.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In related news, Director Christopher J. Stephens purchased 2,750 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was purchased at an average price of $17.14 per share, with a total value of $47,135.00. Following the completion of the transaction, the director owned 22,317 shares of the company’s stock, valued at approximately $382,513.38. This trade represents a 14.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John R. Linker bought 7,500 shares of the business’s stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average cost of $19.67 per share, for a total transaction of $147,525.00. Following the completion of the transaction, the executive vice president directly owned 7,500 shares in the company, valued at approximately $147,525. This trade represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 2.09% of the stock is owned by insiders.

Columbus McKinnon Stock Performance

Shares of CMCO opened at $17.98 on Thursday. Columbus McKinnon Corporation has a 12-month low of $11.99 and a 12-month high of $24.40. The company has a current ratio of 2.00, a quick ratio of 1.00 and a debt-to-equity ratio of 3.95. The company has a 50-day moving average of $16.33 and a two-hundred day moving average of $16.15. The stock has a market cap of $518.90 million, a P/E ratio of -2.41 and a beta of 1.37.

Columbus McKinnon (NASDAQ:CMCO) last announced its earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.34. The firm had revenue of $531.46 million for the quarter, compared to analysts’ expectations of $501.27 million. Columbus McKinnon had a positive return on equity of 10.02% and a negative net margin of 21.25%.Columbus McKinnon’s quarterly revenue was up 125.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, research analysts predict that Columbus McKinnon Corporation will post 2.05 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Shareholders of record on Friday, August 7th were paid a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Columbus McKinnon’s payout ratio is presently -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.