K2 Principal Fund L.P. Takes Position in Columbus McKinnon Co. (NASDAQ:CMCO)

K2 Principal Fund L.P. acquired a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,651 shares of the industrial products company’s stock, valued at approximately $886,000. K2 Principal Fund L.P. owned 0.09% of Columbus McKinnon at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in shares of Columbus McKinnon by 0.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,890,999 shares of the industrial products company’s stock valued at $65,315,000 after acquiring an additional 7,465 shares during the period. Vanguard Group Inc. raised its stake in shares of Columbus McKinnon by 1.0% in the first quarter. Vanguard Group Inc. now owns 1,557,371 shares of the industrial products company’s stock valued at $69,505,000 after buying an additional 16,174 shares during the period. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Columbus McKinnon during the 2nd quarter valued at $35,540,000. Allspring Global Investments Holdings LLC grew its stake in shares of Columbus McKinnon by 0.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 964,234 shares of the industrial products company’s stock worth $33,305,000 after acquiring an additional 3,200 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Columbus McKinnon by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 357,833 shares of the industrial products company’s stock worth $13,963,000 after acquiring an additional 5,125 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Trading Up 0.5 %

Shares of CMCO stock opened at $32.48 on Tuesday. 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 Co. has a 12-month low of $29.26 and a 12-month high of $45.84. The stock’s 50-day moving average price is $33.91 and its 200-day moving average price is $37.91. The stock has a market capitalization of $937.34 million, a price-to-earnings ratio of 20.05 and a beta of 1.18.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 9.50% and a net margin of 4.52%. Columbus McKinnon’s revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 EPS. Equities research analysts predict that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Friday, August 9th were issued 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 was Friday, August 9th. Columbus McKinnon’s dividend payout ratio (DPR) is presently 17.28%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CMCO. JPMorgan Chase & Co. assumed coverage on Columbus McKinnon in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $53.00 price target for the company. StockNews.com cut 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.