Systematic Financial Management LP Lowers Stock Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Systematic Financial Management LP cut its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 4.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 698,664 shares of the industrial products company’s stock after selling 33,957 shares during the quarter. Systematic Financial Management LP owned about 2.42% of Columbus McKinnon worth $24,132,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new stake in shares of Columbus McKinnon during the 2nd quarter valued at $41,000. TFO Wealth Partners LLC increased its stake in Columbus McKinnon by 13,440.0% during the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,344 shares during the last quarter. CWM LLC raised its holdings in shares of Columbus McKinnon by 679.8% in the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock worth $63,000 after purchasing an additional 1,584 shares during the period. nVerses Capital LLC purchased a new stake in shares of Columbus McKinnon during the 2nd quarter worth about $73,000. Finally, Point72 DIFC Ltd acquired a new stake in Columbus McKinnon during the 2nd quarter worth approximately $106,000. 95.96% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. assumed coverage on shares of Columbus McKinnon in a report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 target price on the stock.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $35.57 on Friday. The firm has a market capitalization of $1.03 billion, a PE ratio of 21.96 and a beta of 1.18. Columbus McKinnon Co. has a one year low of $29.26 and a one year high of $45.84. The stock’s 50 day moving average price is $33.72 and its 200 day moving average price is $37.72. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07.

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

Columbus McKinnon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a yield of 0.79%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

About Columbus McKinnon

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.