Millennium Management LLC Buys 109,075 Shares of Columbus McKinnon Co. (NASDAQ:CMCO)

Millennium Management LLC grew its stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 120.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 199,726 shares of the industrial products company’s stock after acquiring an additional 109,075 shares during the quarter. Millennium Management LLC owned about 0.69% of Columbus McKinnon worth $6,899,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of CMCO. Virtu Financial LLC bought a new position in shares of Columbus McKinnon during the fourth quarter valued at $264,000. Quadrature Capital Ltd bought a new stake in Columbus McKinnon in the 4th quarter worth about $987,000. Park Avenue Securities LLC increased its holdings in Columbus McKinnon by 12.2% in 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. Bridge City Capital LLC increased its holdings in Columbus McKinnon by 17.9% in the 1st quarter. Bridge City Capital LLC now owns 10,639 shares of the industrial products company’s stock worth $475,000 after buying an additional 1,616 shares in the last quarter. Finally, GoalVest Advisory LLC bought a new stake in Columbus McKinnon in the 1st quarter worth about $854,000. 95.96% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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 Down 2.1 %

CMCO stock opened at $34.23 on Friday. Columbus McKinnon Co. has a twelve month low of $29.26 and a twelve month high of $45.84. The company has a quick ratio of 1.20, a current ratio of 2.07 and a debt-to-equity ratio of 0.52. The stock has a market cap of $987.84 million, a P/E ratio of 21.13 and a beta of 1.17. The business’s 50-day moving average price is $33.12 and its 200-day moving average price is $37.31.

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 return on equity of 9.50% and a net margin of 4.52%. The company had revenue of $239.73 million for the quarter, compared to analysts’ expectations of $241.25 million. During the same period in the previous year, the firm earned $0.62 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Columbus McKinnon Co. will post 3.02 EPS for the current year.

Columbus McKinnon Dividend Announcement

The firm 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 annualized dividend and a yield of 0.82%. Columbus McKinnon’s 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.