Point72 Asset Management L.P. Buys 3,400 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Point72 Asset Management L.P. boosted its stake in Columbus McKinnon Co. (NASDAQ:CMCO) by 65.4% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,600 shares of the industrial products company’s stock after acquiring an additional 3,400 shares during the period. Point72 Asset Management L.P.’s holdings in Columbus McKinnon were worth $297,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new stake in Columbus McKinnon in the fourth quarter worth about $987,000. Foundry Partners LLC raised its position in shares of Columbus McKinnon by 23.9% in the first quarter. Foundry Partners LLC now owns 121,625 shares of the industrial products company’s stock valued at $5,428,000 after purchasing an additional 23,460 shares during the period. Boston Partners bought a new stake in shares of Columbus McKinnon in the first quarter valued at approximately $847,000. First Eagle Investment Management LLC raised its position in shares of Columbus McKinnon by 11.7% in the first quarter. First Eagle Investment Management LLC now owns 184,281 shares of the industrial products company’s stock valued at $8,224,000 after purchasing an additional 19,350 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in shares of Columbus McKinnon in the first quarter valued at approximately $3,791,000. Institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Shares of NASDAQ:CMCO opened at $34.83 on Friday. The company has a 50 day moving average of $33.42 and a 200 day moving average of $37.53. The stock has a market cap of $1.01 billion, a P/E ratio of 21.50 and a beta of 1.17. Columbus McKinnon Co. has a 12 month low of $29.26 and a 12 month high of $45.84. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52.

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

Columbus McKinnon Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a $0.07 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.28 dividend on an annualized basis and a yield of 0.80%. Columbus McKinnon’s dividend payout ratio is presently 17.28%.

Wall Street Analyst Weigh In

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

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.