Point72 DIFC Ltd Purchases Shares of 3,064 Columbus McKinnon Co. (NASDAQ:CMCO)

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

Several other large investors have also recently modified their holdings of the company. Andina Capital Management LLC grew its holdings in Columbus McKinnon by 3.7% in the second quarter. Andina Capital Management LLC now owns 8,671 shares of the industrial products company’s stock worth $300,000 after purchasing an additional 311 shares during the last quarter. GoalVest Advisory LLC increased its position in Columbus McKinnon by 3.1% during the 2nd quarter. GoalVest Advisory LLC now owns 19,740 shares of the industrial products company’s stock valued at $682,000 after buying an additional 600 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Columbus McKinnon by 4.6% in the second quarter. The Manufacturers Life Insurance Company now owns 14,630 shares of the industrial products company’s stock valued at $505,000 after buying an additional 646 shares during the last quarter. Park Avenue Securities LLC boosted its holdings in Columbus McKinnon by 12.2% in the first quarter. Park Avenue Securities LLC now owns 6,650 shares of the industrial products company’s stock worth $297,000 after acquiring an additional 725 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in shares of Columbus McKinnon by 2.0% during the second quarter. Rhumbline Advisers now owns 47,162 shares of the industrial products company’s stock worth $1,629,000 after acquiring an additional 911 shares during the last quarter. Institutional investors own 95.96% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. began coverage on shares of Columbus McKinnon in a research note on Tuesday, June 4th. They issued an “overweight” rating and a $53.00 target price 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 Stock Down 2.4 %

Shares of CMCO stock opened at $35.12 on Wednesday. Columbus McKinnon Co. has a fifty-two week low of $29.26 and a fifty-two week high of $45.84. The firm has a market capitalization of $1.01 billion, a PE ratio of 21.68 and a beta of 1.18. 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 stock’s 50-day simple moving average is $33.63 and its 200-day simple moving average is $37.61.

Columbus McKinnon (NASDAQ:CMCO) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $241.25 million. During the same period in the prior year, the firm earned $0.62 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts expect that Columbus McKinnon Co. will post 3.02 earnings per share for the current year.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 0.80%. The ex-dividend date was Friday, August 9th. Columbus McKinnon’s dividend payout ratio is currently 17.28%.

Columbus McKinnon 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.