Columbus McKinnon Corporation $CMCO Shares Purchased by AlphaQuest LLC

AlphaQuest LLC boosted its stake in shares of Columbus McKinnon Corporation (NASDAQ:CMCO) by 118.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 68,122 shares of the industrial products company’s stock after purchasing an additional 36,986 shares during the quarter. AlphaQuest LLC owned approximately 0.24% of Columbus McKinnon worth $977,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Assenagon Asset Management S.A. purchased a new stake in shares of Columbus McKinnon during the third quarter worth approximately $8,040,000. AQR Capital Management LLC increased its position in shares of Columbus McKinnon by 286.0% in the 2nd quarter. AQR Capital Management LLC now owns 476,656 shares of the industrial products company’s stock valued at $7,279,000 after purchasing an additional 353,158 shares during the last quarter. Man Group plc raised its holdings in shares of Columbus McKinnon by 1,036.7% in the 2nd quarter. Man Group plc now owns 254,477 shares of the industrial products company’s stock valued at $3,886,000 after purchasing an additional 232,090 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Columbus McKinnon by 375.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 269,888 shares of the industrial products company’s stock worth $4,121,000 after purchasing an additional 213,122 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of Columbus McKinnon during the second quarter worth $2,741,000. Hedge funds and other institutional investors own 95.96% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on CMCO shares. DA Davidson set a $15.00 price target on Columbus McKinnon in a research note on Thursday, January 15th. Weiss Ratings reiterated a “sell (d)” rating on shares of Columbus McKinnon in a report on Wednesday, October 8th. CJS Securities upgraded Columbus McKinnon to a “strong-buy” rating in a research note on Thursday, December 11th. Finally, Wall Street Zen downgraded Columbus McKinnon from a “strong-buy” rating to a “buy” rating in a report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $15.00.

Columbus McKinnon Trading Up 0.1%

CMCO opened at $21.10 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.81 and a debt-to-equity ratio of 0.45. Columbus McKinnon Corporation has a 52 week low of $11.78 and a 52 week high of $35.80. The business’s 50 day moving average is $18.54 and its two-hundred day moving average is $16.26. The firm has a market cap of $606.20 million, a price-to-earnings ratio of 150.73 and a beta of 1.33.

Columbus McKinnon Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Friday, February 13th will be issued a dividend of $0.07 per share. The ex-dividend date of this dividend is Friday, February 13th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. Columbus McKinnon’s dividend payout ratio (DPR) is currently 200.00%.

Columbus McKinnon Company 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.