Odyssean LLC Acquires 59,297 Shares of Columbus McKinnon Corporation $CMCO

Odyssean LLC boosted its holdings in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 432.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,022 shares of the industrial products company’s stock after purchasing an additional 59,297 shares during the quarter. Odyssean LLC’s holdings in Columbus McKinnon were worth $1,105,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in shares of Columbus McKinnon by 48.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,741 shares of the industrial products company’s stock valued at $30,000 after buying an additional 565 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Columbus McKinnon by 4.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 20,040 shares of the industrial products company’s stock worth $346,000 after acquiring an additional 850 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Columbus McKinnon by 8.5% during the second quarter. The Manufacturers Life Insurance Company now owns 10,885 shares of the industrial products company’s stock valued at $166,000 after purchasing an additional 852 shares during the period. Royal Bank of Canada raised its position in Columbus McKinnon by 41.4% during the fourth quarter. Royal Bank of Canada now owns 3,136 shares of the industrial products company’s stock valued at $54,000 after purchasing an additional 918 shares during the period. Finally, Wilmington Savings Fund Society FSB lifted its stake in shares of Columbus McKinnon by 66.7% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 2,500 shares of the industrial products company’s stock valued at $36,000 after purchasing an additional 1,000 shares during the last quarter. 95.96% of the stock is currently owned by institutional investors.

Columbus McKinnon Price Performance

CMCO opened at $18.84 on Friday. The company has a quick ratio of 1.00, a current ratio of 2.00 and a debt-to-equity ratio of 3.95. The business has a fifty day moving average of $16.82 and a 200 day moving average of $15.98. Columbus McKinnon Corporation has a 52-week low of $11.99 and a 52-week high of $24.40. The stock has a market cap of $543.72 million, a P/E ratio of -2.53 and a beta of 1.36.

Columbus McKinnon (NASDAQ:CMCO) last posted its quarterly earnings results on Thursday, July 30th. The industrial products company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.27 by $0.34. The company had revenue of $531.46 million for the quarter, compared to the consensus estimate of $501.27 million. Columbus McKinnon had a negative net margin of 21.25% and a positive return on equity of 10.02%. The firm’s revenue was up 125.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 EPS. Columbus McKinnon has set its FY 2027 guidance at 1.900-2.100 EPS. As a group, sell-side analysts anticipate that Columbus McKinnon Corporation will post 2.05 EPS for the current year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Friday, August 7th were issued a $0.07 dividend. The ex-dividend date was Friday, August 7th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.5%. Columbus McKinnon’s payout ratio is presently -3.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Weiss Ratings cut Columbus McKinnon from a “sell (d)” rating to a “sell (d-)” rating in a report on Friday, July 31st. Zacks Research upgraded Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a report on Friday, August 7th. JPMorgan Chase & Co. boosted their price objective on shares of Columbus McKinnon from $25.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, July 31st. DA Davidson lowered their target price on shares of Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating for the company in a report on Monday, June 15th. Finally, Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Columbus McKinnon presently has an average rating of “Moderate Buy” and a consensus target price of $23.00.

Insider Buying and Selling

In other news, Director Christopher J. Stephens acquired 2,750 shares of Columbus McKinnon stock in a transaction on Thursday, August 20th. The shares were bought at an average cost of $17.14 per share, for a total transaction of $47,135.00. Following the acquisition, the director directly owned 22,317 shares of the company’s stock, valued at $382,513.38. This trade represents a 14.05% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP John R. Linker bought 7,500 shares of the firm’s stock in a transaction on Friday, July 31st. The shares were purchased at an average cost of $19.67 per share, with a total value of $147,525.00. Following the completion of the transaction, the executive vice president owned 7,500 shares in the company, valued at $147,525. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 2.09% of the stock is currently owned by insiders.

About Columbus McKinnon

Columbus McKinnon Corporation is a global designer, manufacturer and marketer of material handling systems and solutions. The company’s product portfolio spans electric and manual hoists, motorized and manual chain and wire rope hoists, end-of-arm tooling, rigging hardware, trolleys and controls. Through its brands, Columbus McKinnon serves customers across a wide range of end markets including manufacturing, warehousing, construction, and energy, providing equipment for lifting, positioning and flow control applications.

With a focus on safety and productivity, Columbus McKinnon integrates advanced technologies such as automation controls, digital load monitoring and Internet-of-Things connectivity into its hoist and crane systems.