Columbus McKinnon Corporation $CMCO Shares Sold by CastleKnight Management LP

CastleKnight Management LP lessened its holdings in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 8.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 511,200 shares of the industrial products company’s stock after selling 46,400 shares during the period. CastleKnight Management LP owned approximately 1.78% of Columbus McKinnon worth $8,818,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Columbus McKinnon by 48.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock worth $30,000 after acquiring an additional 565 shares during the period. Group One Trading LLC grew its holdings in 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 worth $32,000 after acquiring an additional 1,600 shares during the period. Wilmington Savings Fund Society FSB grew 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 grew 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 grew its holdings in Columbus McKinnon by 41.4% during the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock worth $54,000 after acquiring an additional 918 shares during the period. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Stock Up 0.4%

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

Columbus McKinnon (NASDAQ:CMCO) last posted its earnings results on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.12). The firm had revenue of $437.83 million during the quarter, compared to analyst estimates of $419.57 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The firm’s revenue for the quarter was up 77.3% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Analysts predict that Columbus McKinnon Corporation will post 1.73 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Wall Street Analysts Forecast Growth

CMCO has been the topic of a number of recent analyst reports. DA Davidson dropped their price objective on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday. JPMorgan Chase & Co. dropped their price objective on Columbus McKinnon from $29.00 to $27.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Zacks Research raised Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Wednesday, June 10th. Wall Street Zen lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Weiss Ratings lowered Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, May 29th. 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, Columbus McKinnon currently has an average rating of “Moderate Buy” and a consensus target price of $22.00.

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.