Assenagon Asset Management S.A. Purchases New Stake in Columbus McKinnon Corporation $CMCO

Assenagon Asset Management S.A. acquired a new position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 560,656 shares of the industrial products company’s stock, valued at approximately $8,040,000. Assenagon Asset Management S.A. owned 1.95% of Columbus McKinnon as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Stanley Capital Management LLC purchased a new stake in Columbus McKinnon during the 1st quarter worth $8,888,000. Palogic Value Management L.P. lifted its stake in shares of Columbus McKinnon by 514.8% during the first quarter. Palogic Value Management L.P. now owns 501,585 shares of the industrial products company’s stock worth $8,492,000 after purchasing an additional 420,000 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Columbus McKinnon by 286.0% in the second quarter. AQR Capital Management LLC now owns 476,656 shares of the industrial products company’s stock worth $7,279,000 after buying an additional 353,158 shares during the period. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Columbus McKinnon in the first quarter worth about $4,877,000. Finally, Man Group plc grew its stake in shares of Columbus McKinnon by 1,036.7% in the second quarter. Man Group plc now owns 254,477 shares of the industrial products company’s stock valued at $3,886,000 after buying an additional 232,090 shares in the last quarter. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on CMCO. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a report on Thursday, December 11th. Weiss Ratings restated a “sell (d)” rating on shares of Columbus McKinnon in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised shares of Columbus McKinnon from a “buy” rating to a “strong-buy” rating in a report on Saturday, December 6th. One analyst has rated the stock with a Strong Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Columbus McKinnon presently has an average rating of “Hold” and a consensus price target of $35.00.

Columbus McKinnon Stock Performance

Columbus McKinnon stock opened at $17.29 on Friday. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $38.31. The company has a current ratio of 1.81, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $496.74 million, a P/E ratio of 123.51 and a beta of 1.30. The stock has a 50 day moving average of $16.00 and a 200-day moving average of $15.40.

Columbus McKinnon (NASDAQ:CMCO) last issued its quarterly earnings results on Tuesday, February 8th. The industrial products company reported $0.36 earnings per share (EPS) for the quarter. Columbus McKinnon had a net margin of 0.41% and a return on equity of 7.33%. The business had revenue of $166.55 million during the quarter. On average, analysts expect that Columbus McKinnon Corporation will post 2.69 EPS for the current fiscal year.

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 17th. Stockholders of record on Friday, November 7th were paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Friday, November 7th. Columbus McKinnon’s dividend payout ratio is 200.00%.

Columbus McKinnon Profile

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.