Columbus McKinnon Corporation $CMCO Shares Sold by Bernzott Capital Advisors

by · The Markets Daily

Bernzott Capital Advisors lessened its position in shares of Columbus McKinnon Corporation (NASDAQ:CMCO – Free Report) by 16.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 453,852 shares of the industrial products company’s stock after selling 86,955 shares during the quarter. Columbus McKinnon comprises 3.2% of Bernzott Capital Advisors’ investment portfolio, making the stock its 14th biggest holding. Bernzott Capital Advisors’ holdings in Columbus McKinnon were worth $6,594,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in CMCO. Vanguard Group Inc. lifted its stake in Columbus McKinnon by 3.4% in the third quarter. Vanguard Group Inc. now owns 1,873,995 shares of the industrial products company’s stock valued at $26,873,000 after buying an additional 62,267 shares during the last quarter. Invesco Ltd. grew its position in shares of Columbus McKinnon by 0.4% during the fourth quarter. Invesco Ltd. now owns 1,457,095 shares of the industrial products company’s stock worth $25,135,000 after acquiring an additional 5,210 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Columbus McKinnon by 76.8% during the fourth quarter. AQR Capital Management LLC now owns 1,108,462 shares of the industrial products company’s stock worth $19,121,000 after acquiring an additional 481,470 shares during the last quarter. Millennium Management LLC increased its holdings in shares of Columbus McKinnon by 80.3% in the 3rd quarter. Millennium Management LLC now owns 850,951 shares of the industrial products company’s stock valued at $12,203,000 after acquiring an additional 379,096 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC raised its position in Columbus McKinnon by 100.2% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 829,875 shares of the industrial products company’s stock valued at $11,900,000 after purchasing an additional 415,275 shares during the last quarter. Institutional investors and hedge funds own 95.96% of the company’s stock.

Columbus McKinnon Price Performance

Columbus McKinnon stock opened at $13.47 on Friday. The company has a debt-to-equity ratio of 3.38, a current ratio of 2.02 and a quick ratio of 0.98. The business has a 50 day simple moving average of $14.54 and a 200-day simple moving average of $16.68. Columbus McKinnon Corporation has a 12 month low of $11.99 and a 12 month high of $24.40. The stock has a market capitalization of $388.34 million, a PE ratio of -2.46 and a beta of 1.39.

Columbus McKinnon (NASDAQ:CMCO – Get Free Report) last posted its quarterly earnings data on Thursday, June 4th. The industrial products company reported $0.24 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.12). The firm had revenue of $437.83 million during the quarter, compared to analysts’ expectations of $419.56 million. Columbus McKinnon had a negative net margin of 19.23% and a positive return on equity of 7.09%. The business’s quarterly revenue was up 77.3% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Columbus McKinnon has set its FY 2027 guidance at 1.700-1.900 EPS. Equities analysts predict that Columbus McKinnon Corporation will post 1.73 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Zacks Research upgraded shares of Columbus McKinnon from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 10th. Wall Street Zen cut shares of Columbus McKinnon from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Weiss Ratings downgraded shares of Columbus McKinnon from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday, May 29th. Finally, DA Davidson lowered their price target on Columbus McKinnon from $20.00 to $17.00 and set a “neutral” rating on the stock in a report on Monday, June 15th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Columbus McKinnon currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

View Our Latest Analysis on CMCO

Columbus McKinnon Company Profile

(Free Report)

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.

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