Point72 DIFC Ltd Makes New $106,000 Investment in Columbus McKinnon Co. (NASDAQ:CMCO)

Point72 DIFC Ltd acquired a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,064 shares of the industrial products company’s stock, valued at approximately $106,000.

Several other institutional investors have also modified their holdings of the stock. TFO Wealth Partners LLC lifted its position in Columbus McKinnon by 13,440.0% in the fourth quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,344 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in Columbus McKinnon during the 4th quarter valued at about $524,000. Keeley Teton Advisors LLC lifted its stake in Columbus McKinnon by 24.2% in the fourth quarter. Keeley Teton Advisors LLC now owns 52,785 shares of the industrial products company’s stock worth $2,060,000 after purchasing an additional 10,277 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $987,000. Finally, Nebula Research & Development LLC bought a new position in shares of Columbus McKinnon during the fourth quarter valued at approximately $730,000. 95.96% of the stock is owned by institutional investors.

Columbus McKinnon Stock Performance

Shares of NASDAQ:CMCO opened at $35.12 on Wednesday. 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 cap of $1.01 billion, a PE ratio of 21.68 and a beta of 1.18. The firm’s 50 day simple moving average is $33.63 and its 200-day simple moving average is $37.61. Columbus McKinnon Co. has a one year low of $29.26 and a one year high of $45.84.

Columbus McKinnon (NASDAQ:CMCO) last issued its earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, beating 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 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 company posted $0.62 EPS. Columbus McKinnon’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts predict that Columbus McKinnon Co. will post 3.02 EPS for the current year.

Columbus McKinnon Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. began coverage on Columbus McKinnon in a research report on Tuesday, June 4th. They set an “overweight” rating and a $53.00 target price for the company.

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.