Foundry Partners LLC Increases Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Foundry Partners LLC increased its position in Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) by 14.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 139,179 shares of the industrial products company's stock after acquiring an additional 17,554 shares during the period. Foundry Partners LLC owned about 0.48% of Columbus McKinnon worth $4,807,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Columbus McKinnon in the second quarter worth approximately $41,000. TFO Wealth Partners LLC grew its position in Columbus McKinnon by 13,440.0% in the 4th quarter. TFO Wealth Partners LLC now owns 1,354 shares of the industrial products company's stock worth $53,000 after purchasing an additional 1,344 shares during the period. CWM LLC grew its position in Columbus McKinnon by 679.8% in the 2nd quarter. CWM LLC now owns 1,817 shares of the industrial products company's stock worth $63,000 after purchasing an additional 1,584 shares during the period. nVerses Capital LLC purchased a new stake in Columbus McKinnon during the 2nd quarter valued at $73,000. Finally, ProShare Advisors LLC bought a new position in shares of Columbus McKinnon during the 1st quarter valued at $226,000. 95.96% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com downgraded Columbus McKinnon from a "buy" rating to a "hold" rating in a report on Friday, August 2nd. JPMorgan Chase & Co. began coverage on shares of Columbus McKinnon in a report on Tuesday, June 4th. They issued an "overweight" rating and a $53.00 price objective on the stock.

Columbus McKinnon Stock Performance

Columbus McKinnon stock traded down $0.55 during trading on Friday, reaching $31.20. The company had a trading volume of 135,535 shares, compared to its average volume of 157,794. The firm's 50-day simple moving average is $34.42 and its 200 day simple moving average is $38.75. Columbus McKinnon Co. has a 52 week low of $30.29 and a 52 week high of $45.84. The company has a current ratio of 2.07, a quick ratio of 1.20 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $900.40 million, a price-to-earnings ratio of 19.26 and a beta of 1.21.

Columbus McKinnon (NASDAQ:CMCO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.01. The firm had revenue of $239.73 million for the quarter, compared to analysts' expectations of $241.25 million. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The business's quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.62 EPS. Sell-side analysts forecast that Columbus McKinnon Co. will post 3.02 earnings per share for the current fiscal year.

Columbus McKinnon Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Friday, August 9th were given a $0.07 dividend. The ex-dividend date was Friday, August 9th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.90%. Columbus McKinnon's payout ratio is currently 17.28%.

About Columbus McKinnon

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.