Inspire Investing LLC Grows Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Inspire Investing LLC increased its position in shares of Columbus McKinnon Co. (NASDAQ:CMCO) by 26.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,147 shares of the industrial products company’s stock after buying an additional 2,116 shares during the period. Inspire Investing LLC’s holdings in Columbus McKinnon were worth $350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new position in Columbus McKinnon during the 4th quarter worth $987,000. Foundry Partners LLC grew its holdings in Columbus McKinnon by 23.9% during the 1st quarter. Foundry Partners LLC now owns 121,625 shares of the industrial products company’s stock worth $5,428,000 after acquiring an additional 23,460 shares in the last quarter. Boston Partners acquired a new position in Columbus McKinnon during the 1st quarter worth $847,000. First Eagle Investment Management LLC grew its holdings in Columbus McKinnon by 11.7% during the 1st quarter. First Eagle Investment Management LLC now owns 184,281 shares of the industrial products company’s stock worth $8,224,000 after acquiring an additional 19,350 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in Columbus McKinnon during the 1st quarter worth $3,791,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Columbus McKinnon Trading Up 0.5 %

NASDAQ CMCO opened at $32.48 on Tuesday. Columbus McKinnon Co. has a one year low of $29.26 and a one year high of $45.84. The company has a 50-day simple moving average of $33.91 and a 200-day simple moving average of $37.91. 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 capitalization of $937.34 million, a PE ratio of 20.05 and a beta of 1.18.

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, 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 analyst estimates of $241.25 million. During the same period in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, 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 announced a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date of this dividend was Friday, August 9th. Columbus McKinnon’s payout ratio is 17.28%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on CMCO shares. JPMorgan Chase & Co. started coverage on shares of Columbus McKinnon in a report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 price objective for the company. StockNews.com lowered shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a 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.