Semanteon Capital Management LP Acquires New Holdings in Columbus McKinnon Co. (NASDAQ:CMCO)

Semanteon Capital Management LP bought a new position in Columbus McKinnon Co. (NASDAQ:CMCO) during the 3rd quarter, HoldingsChannel reports. The firm bought 22,848 shares of the industrial products company’s stock, valued at approximately $823,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC bought a new position in shares of Columbus McKinnon during the 2nd quarter valued at about $35,540,000. Millennium Management LLC lifted its position in Columbus McKinnon by 120.3% in the 2nd quarter. Millennium Management LLC now owns 199,726 shares of the industrial products company’s stock valued at $6,899,000 after acquiring an additional 109,075 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in Columbus McKinnon during the 1st quarter worth about $3,791,000. Assenagon Asset Management S.A. raised its stake in shares of Columbus McKinnon by 81.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 173,245 shares of the industrial products company’s stock valued at $6,237,000 after purchasing an additional 77,721 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Columbus McKinnon by 250.3% in the 2nd quarter. Renaissance Technologies LLC now owns 107,885 shares of the industrial products company’s stock valued at $3,726,000 after purchasing an additional 77,085 shares during the period. 95.96% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Columbus McKinnon from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

Columbus McKinnon Stock Performance

Columbus McKinnon stock traded up $0.53 during mid-day trading on Monday, hitting $32.97. 4,640 shares of the company’s stock traded hands, compared to its average volume of 171,664. Columbus McKinnon Co. has a fifty-two week low of $29.26 and a fifty-two week high of $45.84. The stock has a market cap of $951.48 million, a price-to-earnings ratio of 20.02 and a beta of 1.17. The firm has a 50 day simple moving average of $33.31 and a two-hundred day simple moving average of $36.53. 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) last issued its quarterly earnings results on Wednesday, July 31st. The industrial products company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. Columbus McKinnon had a return on equity of 9.50% and a net margin of 4.52%. The business had revenue of $239.73 million for the quarter, compared to the consensus estimate of $241.25 million. During the same quarter in the prior year, the business posted $0.62 earnings per share. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, research analysts expect that Columbus McKinnon Co. will post 3.02 EPS for the current fiscal year.

Columbus McKinnon Announces Dividend

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

Columbus McKinnon 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.