Cubist Systematic Strategies LLC Acquires 27,455 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Cubist Systematic Strategies LLC lifted its holdings in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 62.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). 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 owned approximately 0.25% of Columbus McKinnon worth $2,463,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Andina Capital Management LLC boosted its holdings in Columbus McKinnon by 3.7% during the 2nd quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company’s stock worth $300,000 after acquiring an additional 311 shares during the last quarter. GoalVest Advisory LLC grew its position in Columbus McKinnon by 3.1% in the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock worth $682,000 after purchasing an additional 600 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Columbus McKinnon by 4.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock valued at $505,000 after buying an additional 646 shares during the last quarter. Park Avenue Securities LLC lifted its position in shares of Columbus McKinnon by 12.2% during the 1st quarter. Park Avenue Securities LLC now owns 6,650 shares of the industrial products company’s stock worth $297,000 after buying an additional 725 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in shares of Columbus McKinnon by 2.0% in the 2nd quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock worth $1,629,000 after buying an additional 911 shares during the last quarter. 95.96% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Columbus McKinnon Stock Performance

Shares of CMCO stock opened at $34.77 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.20 and a current ratio of 2.07. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 21.73 and a beta of 1.17. Columbus McKinnon Co. has a 52 week low of $29.26 and a 52 week high of $45.84. The firm’s 50-day simple moving average is $33.10 and its two-hundred day simple moving average is $37.25.

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

Columbus McKinnon Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 0.81%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon’s dividend payout ratio (DPR) is currently 17.50%.

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.