XTX Topco Ltd Makes New Investment in Columbus McKinnon Co. (NASDAQ:CMCO)

XTX Topco Ltd bought a new position in Columbus McKinnon Co. (NASDAQ:CMCO) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 6,468 shares of the industrial products company’s stock, valued at approximately $223,000.

A number of other institutional investors have also recently made changes to their positions in the business. Innealta Capital LLC purchased a new stake in Columbus McKinnon during the second quarter valued at approximately $41,000. TFO Wealth Partners LLC raised its holdings in Columbus McKinnon by 13,440.0% during the 4th quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,344 shares during the period. CWM LLC lifted its position in Columbus McKinnon by 679.8% in the second quarter. CWM LLC now owns 1,817 shares of the industrial products company’s stock worth $63,000 after buying an additional 1,584 shares during the last quarter. nVerses Capital LLC purchased a new position in Columbus McKinnon during the second quarter worth $73,000. Finally, ProShare Advisors LLC bought a new position in Columbus McKinnon during the first quarter valued at $226,000. Institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

CMCO has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of Columbus McKinnon in a research note on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price target for the company. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Columbus McKinnon Stock Up 0.9 %

Shares of CMCO opened at $35.57 on Monday. The firm has a fifty day moving average price of $33.72 and a 200-day moving average price of $37.69. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $1.03 billion, a P/E ratio of 21.96 and a beta of 1.18. Columbus McKinnon Co. has a 12-month low of $29.26 and a 12-month high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its 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. The business had revenue of $239.73 million for the quarter, compared to the consensus estimate of $241.25 million. Columbus McKinnon had a net margin of 4.52% and a return on equity of 9.50%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.62 EPS. Equities research analysts expect that Columbus McKinnon Co. will post 3.02 earnings per share for the current year.

Columbus McKinnon Announces Dividend

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

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.