Semanteon Capital Management LP Takes Position in Columbus McKinnon Co. (NASDAQ:CMCO)

Semanteon Capital Management LP bought a new stake in shares of Columbus McKinnon Co. (NASDAQ:CMCO - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 22,848 shares of the industrial products company's stock, valued at approximately $823,000. Semanteon Capital Management LP owned 0.08% of Columbus McKinnon as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in CMCO. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Columbus McKinnon during the second quarter valued at approximately $35,540,000. Millennium Management LLC increased its stake in shares of Columbus McKinnon by 120.3% during the second quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company's stock valued at $6,899,000 after buying an additional 109,075 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Columbus McKinnon during the first quarter valued at approximately $3,791,000. Assenagon Asset Management S.A. increased its stake in shares of Columbus McKinnon by 81.4% during the third quarter. Assenagon Asset Management S.A. now owns 173,245 shares of the industrial products company's stock valued at $6,237,000 after buying an additional 77,721 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Columbus McKinnon by 250.3% during the second quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company's stock valued at $3,726,000 after buying an additional 77,085 shares during the period. 95.96% of the stock is owned by hedge funds and other institutional investors.

Columbus McKinnon Stock Up 1.4 %

CMCO stock traded up $0.45 during midday trading on Monday, hitting $32.89. The stock had a trading volume of 235,846 shares, compared to its average volume of 172,775. The firm has a market cap of $949.17 million, a price-to-earnings ratio of 20.30 and a beta of 1.17. The business has a 50-day moving average of $33.30 and a two-hundred day moving average of $36.46. Columbus McKinnon Co. has a 52-week low of $29.26 and a 52-week high of $45.84. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.07 and a quick ratio of 1.20.

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

Columbus McKinnon Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, November 18th. Shareholders of record on Friday, November 8th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, November 8th. Columbus McKinnon's dividend payout ratio (DPR) is 17.28%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Columbus McKinnon from a "buy" rating to a "hold" rating in a research note on Friday, August 2nd.

Columbus McKinnon Company 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.