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Kathryn Bohl, a director at Columbus McKinnon Corp (NASDAQ:CMCO), recently made a significant investment in the company by purchasing 2,819 shares of common stock. The transaction, which took place on March 19, 2025, was executed at a price of $17.99 per share, amounting to a total purchase of approximately $50,713. The purchase comes as the stock trades near $18.75, down over 56% in the past year and significantly below its 52-week high of $45.84.
Following this acquisition, Bohl’s direct ownership in Columbus McKinnon stands at 14,812 shares. The purchase reflects a continued confidence in the company’s prospects, as she has increased her holdings in the construction machinery and equipment firm.
In addition to the common stock purchase, Bohl holds a significant amount of deferred stock, which will be converted to common stock once she ceases to be a director, as per the terms of the company’s plan. Her deferred stock holdings include 4,204.7588, 3,214.1329, and 3,540.2275 shares, respectively, all of which are directly owned.
These transactions underscore Bohl’s commitment to Columbus McKinnon, a company incorporated in New York and headquartered in Charlotte, North Carolina. The firm is known for its construction machinery and equipment, and Bohl’s recent acquisition may signal her confidence in its future trajectory. The company maintains strong financial health with a current ratio of 2.03 and has maintained dividend payments for 12 consecutive years.
In other recent news, Columbus McKinnon reported its third-quarter earnings, revealing a 7.9% decrease in net sales to $234.1 million compared to the same period last year. The company also announced a significant acquisition of Kito Crosby for $2.7 billion, aiming to enhance its position in the global lifting equipment market. This acquisition is expected to close later this year, pending regulatory approvals, and is anticipated to increase Columbus McKinnon’s annual revenue to $2.1 billion. However, the transaction will initially raise the company’s net leverage ratio to approximately 4.8 times pro forma Adjusted EBITDA.
The acquisition will be funded through a combination of debt financing and a perpetual convertible preferred equity investment from CD&R. Following these developments, DA Davidson downgraded Columbus McKinnon’s stock rating from Buy to Neutral, citing concerns over increased leverage and deal complexity. Additionally, S&P Global Ratings placed Columbus McKinnon’s credit ratings on CreditWatch with negative implications, reflecting concerns about the company’s increased debt burden post-acquisition. Meanwhile, Moody’s has placed Columbus McKinnon’s ratings under review for a potential downgrade, focusing on the company’s financial leverage and integration risks.
Conversely, Moody’s is reviewing Kito Crosby’s ratings for an upgrade, as the company will become part of Columbus McKinnon, a higher-rated entity. These recent developments highlight the financial and strategic implications of the acquisition for Columbus McKinnon and its stakeholders.
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