Cubist Systematic Strategies LLC Increases Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Cubist Systematic Strategies LLC lifted its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 62.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 71,298 shares of the industrial products company’s stock after acquiring an additional 27,455 shares during the period. Cubist Systematic Strategies LLC’s holdings in Columbus McKinnon were worth $2,463,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. K2 Principal Fund L.P. purchased a new stake in shares of Columbus McKinnon during the second quarter valued at approximately $886,000. Point72 DIFC Ltd acquired a new stake in Columbus McKinnon during the 2nd quarter valued at $106,000. Providence Capital Advisors LLC increased its stake in Columbus McKinnon by 0.8% during the 2nd quarter. Providence Capital Advisors LLC now owns 112,595 shares of the industrial products company’s stock worth $3,889,000 after buying an additional 941 shares during the period. Magnetar Financial LLC acquired a new position in Columbus McKinnon in the 2nd quarter worth $631,000. Finally, Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Columbus McKinnon in the 2nd quarter valued at about $35,540,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Columbus McKinnon Price Performance

Shares of CMCO stock opened at $35.57 on Monday. The firm has a fifty day moving average of $33.72 and a two-hundred day moving average of $37.69. The firm has a market cap of $1.03 billion, a P/E ratio of 21.96 and a beta of 1.18. Columbus McKinnon Co. has a 1-year low of $29.26 and a 1-year high of $45.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20.

Columbus McKinnon (NASDAQ:CMCO) last announced its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The firm had revenue of $239.73 million for the quarter, compared to analysts’ expectations of $241.25 million. During the same quarter in the prior year, the firm posted $0.62 earnings per share. Columbus McKinnon’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.07 per share. The ex-dividend date was Friday, August 9th. This represents a $0.28 annualized dividend and a yield of 0.79%. Columbus McKinnon’s payout ratio is 17.28%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on CMCO. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on Columbus McKinnon in a report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price objective on the stock.

Columbus McKinnon Company Profile

Columbus McKinnon Corporation designs, manufactures, and markets motion solutions for moving, lifting, positioning, and securing materials worldwide. It offers manual, battery, electric, and air hoists; steel, rack, and pinion jacks; winches, hydraulic jacks and tools, trolleys and its clamps, and lifting tables; skates and heavy load moving systems; material handling equipment; mobile, workplace, and jib cranes; crane components and kits; and below-the-hook lifting devices, lifting slings, and lashing systems.